Australia's Paradigm Biopharmaceuticals slips on discounted placement

Paradigm Biopharmaceuticals

27/04/2026 03:35

** Paradigm Biopharmaceuticals PAR.AX slips as much as 17.8% to A$0.185, lowest since September 26, 2024

** Drug developer announces successful completion of A$14 million ($10 million) placement, launch of share purchase plan to raise up to A$2 million, both at A$0.19/share

** Issue price represents 13.2% discount to last close

** Funds will be used to finance Global Phase 3 clinical trial for osteoarthritis treatment, partial repayment of Obsidian convertible note facility, among others

** Around 4 mln shares traded, ~3x the 30-day average

** PAR down 42.7% YTD

($1 = A$1.3953)

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.singhchundawat@thomsonreuters.com))