Why the Paradigm (ASX:PAR) share price is charging higher today

The Paradigm Biopharmaceuticals Ltd (ASX:PAR) share price is charging higher on Wednesday following a study update this morning…
The post Why the Paradigm (ASX:PAR) share price is charging higher today appeared first on The Motley Fool Australia. –

unstoppable asx share price represented by man in superman cape pointing skyward

The Paradigm Biopharmaceuticals Ltd (ASX: PAR) share price has been a positive performer on Wednesday.

In morning trade, the biopharmaceutical company’s shares are up 3% to $2.65.

Why is the Paradigm share price charging higher?

Investors have been buying Paradigm’s shares following an update on its knee osteoarthritis (OA) study.

According to the release, the company has enrolled its first patient in the exploratory PARA_OA_008 knee OA Biomarker study.

The release explains that the participant has been randomised and has begun study procedures, including joint aspiration to collect baseline biomarker synovial fluid Information, at Sportsmed Biologic in Box Hill, Victoria.

In addition, the treatment phase has now commenced, with the participant receiving the first dose of injectable Pentosan Polysulfate Sodium (iPPS) or placebo and will continue at two injections a week subcutaneously for a six-week period.

Positively, Paradigm revealed that additional participants have commenced the screening process and may also begin the treatment phase over the next few weeks. This is subject to meeting inclusion criteria.

Paradigm will update investors on key study milestones as they are achieved, with the primary endpoint data expected to read out in second half of calendar year 2021.

Paradigm’s CEO and Chairman, Paul Rennie, commented: “We are very pleased to have progressed to the treatment phase of the knee synovial fluid Biomarker study, by dosing of the first participant. This study has been designed to generate clinical data which will inform of the potential of Zilosul as the first in class disease modifying OA drug (DMOAD). Additionally, the data generated will form part of Paradigm’s submission package to the TGA for the next step of the provisional approval application.”

Shareholders will no doubt be hoping for strong study results later this year. Particularly given its sizeable market opportunity.

The company estimates that there are 14 million U.S. adults with symptomatic knee osteoarthritis at present that could benefit from this therapy.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the Paradigm (ASX:PAR) share price is charging higher today appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!