Australia's Paradigm Biopharma gains on funds to advance clinical trial

Paradigm Biopharmaceuticals

01/07/2025 01:43

** Shares of Paradigm Biopharmaceuticals PAR.AX rise as much as 29.5% to A$0.395, their highest level since March 25

** Stock marks its biggest intraday gain since Nov. 25, 2024

** The drug developer says it has secured a $27 million funding facility to support the clinical trial for the treatment of knee osteoarthritis

** Stock down 18.7% this year, including the day's move

 (Reporting by Rajasik Mukherjee in Bengaluru)

 ((Rajasik.Mukherjee@thomsonreuters.com))