Why the Paradigm (ASX:PAR) share price is storming 12% higher today

The Paradigm Biopharmaceuticals Ltd (ASX:PAR) share price is surging higher on Tuesday after the release of a very positive announcement…
The post Why the Paradigm (ASX:PAR) share price is storming 12% higher today appeared first on Motley Fool Australia. –

beat the share market

The Paradigm Biopharmaceuticals Ltd (ASX: PAR) share price has been a very strong performer on Tuesday.

In morning trade the biopharmaceutical company’s shares are up a sizeable 12% to $2.70.

Why is the Paradigm share price surging higher?

Investors have been buying the company’s shares following the release of its second positive announcement in as many days.

On Monday Paradigm announced that it has received positive feedback from the European Medicines Agency after its recent scientific advice meeting.

Based on this feedback, applications to commence clinical trials in EU member countries can now begin for its Zilosul product. This product is targeting the knee osteoarthritis market.

What was today’s announcement?

Today’s announcement reveals that its exclusive license and supply agreement with bene pharmaChem has been amended with positive and material commercial outcomes for Paradigm.

The company notes that this is an important development as bene pharmaChem remains the only FDA approved manufacturer/supplier of Pentosan Polysulphate Sodium (PPS).

This is very important to Paradigm’s commercial plans, as the aforementioned Zilosul product is an injectable pentosan polysulfate.  

According to the release, Paradigm now has a term of 25 years from the date of marketing approval. In respect to territories, its agreement now includes all major pharmaceutical markets. This excludes Japan, which is covered under a separate arrangement. It also has the option to expand the clinical indications.

Paradigm’s CEO and Managing Director, Paul Rennie, commented: “There are no generic versions of bene PPS on the market and this makes the exclusive supply of bene PPS so valuable to our commercial plans.”

“Paradigm is focussed on executing on our pivotal clinical trials in the USA and Europe and moving onto registration of Zilosul in the major pharmaceutical markets. We are very grateful for the support that Dr Harald Benend and his Bene colleagues have provided to Paradigm and we are very excited about the additional territories, clinical indications and the 25-year exclusive supply of bene PPS post registration,” Mr Rennie concluded.

Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks 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.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

Find out the names of our 3 Post COVID Stocks – For FREE!

*Returns as of 6/8/2020

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. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Why the Paradigm (ASX:PAR) share price is storming 12% higher today appeared first on 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!