AU's Paradigm Biopharmaceuticals jumps as co gets Phase II study approval

Paradigm Biopharmaceuticals

26/10/2021 05:57

** Shares of Paradigm Biopharmaceuticals Ltd  PAR.AX  climb
as much as 3.7% at A$1.965, on track for their best session
since Sept 28 
    ** The drug development co receives regulatory approval from
the ethics committee for Phase II study to evaluate the
treatment effect of pentosan polysulfate sodium - a drug used to
treat bladder pain
    ** Says study involves investigating pain and inflammation
in participants with knee osteoarthritis
    ** Adds that newly approved changes will see once-a-week
dose regimen along with a follow-up period of 12 months, up from
the previous 6-month follow-up
    ** PAR says a new site will operate in New South Wales to
increase patient recruit, which has been hampered by COVID-19
lockdowns in Victoria 
    ** More than 760,000 shares change hands, compared with the
30-day average of ~525,000 shares 
    ** Stock down 25.7% so far this year, as of last close as
compared with an increase of 13.22% in the ASX All Ordinaries
Index  .AORD  
    



 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com))