Insights

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

There’s positive news from a study to treat osteoarthritis…
The post Why the Paradigm (ASX:PAR) share price is pushing higher today appeared first on The Motley Fool Australia. –

The Paradigm Biopharmaceuticals Ltd (ASX: PAR) share price is up 1.85% at time of writing to $1.93 per share. That’s a lift of more than 5% from its low of $1.83 in early morning trade.

Below, we take a look at what’s helping drive today’s rebound for the ASX healthcare share.

What did Paradigm report to the market?

The Paradigm share price is gaining after the company released a positive update on its Phase 2 Synovial Fluid Biomarker study.

The study involves participants with knee osteoarthritis (OA) and is “investigating changes in synovial fluid biomarkers associated with pain, inflammation and disease progression of OA”.

Paradigm said it has received approval from the ethics committee for its amendment to the Phase 2 study to evaluate the effectiveness of pentosan polysulfate sodium (PPS) (Zilosul) compared with a placebo.

The now approved amendments will see a once aweek dosing regimen along with a follow-up period of 12 months, up from the previous 6-month follow-up. A new site will also operate in New South Wales to increase patient recruitment which the company said has been hampered by COVID lockdowns in Victoria.

In addition, Paradigm also received approval from the ethics committee to conduct a parallel clinical trial in dogs. The company said the pathophysiology of OA is similar in humans and dogs. It expects to gain “relevant translational data” from the canine study.

Commenting on the trial progression, Paradigm’s chief medical officer Donna Skerrett said:

Paradigm is embarking on a number of approaches to further value PPS in the knee OA indication by exploring synovial biomarkers and evaluating duration of effect in clinical studies. Simultaneously, we are enhancing our understanding of mechanism of action and disease modifying potential by evaluating PPS in a canine OA study.

The combined information of these two studies will allow us to assess the potential disease modification capability of our OA program while we initiate the phase 2/3 pivotal study activity to assess PPS safety and efficacy for the pain and function indication.

Paradigm share price snapshot

The Paradigm share price has struggled this calendar year, down 24%. By comparison the All Ordinaries Index (ASX: XAO) has gained 12% year-to-date.

Over the past month, Paradigm shares are down 4%.

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

Should you invest $1,000 in Paradigm right now?

Before you consider Paradigm, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Paradigm wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

The Paradigm (ASX:PAR) share price is up 11% on Tuesday

Why Limeade, Paradigm, Sandfire, & Vita shares are falling

Paradigm (ASX:PAR) share price sinks 8% on FDA update

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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.

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!