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Paradigm Biopharmaceuticals (PAR): Adapted ther...
Paradigm Biopharmaceuticals (PAR): Adapted ther....
About this update from Discoverie Group Plc
[{"type":"text","content":"\n \n\n\nEdison Investment Research Limited\n\n\n\nParadigm Biopharmaceuticals (PAR): Adapted therapies to meet unmet demand 14-Dec-2022 / 16:30 GMT/BST\n\n\n \n\nLondon, UK, 14 December 2022\n\n \n\nParadigm Biopharmaceuticals (PAR): Adapted therapies to meet unmet demand\n\nParadigm Biopharmaceuticals is a late-stage Australian drug developer focused on developing injectable pentosan polysulfate sodium (PPS). The company’s most advanced clinical programme is investigating injectable PPS (iPPS, Zilosul) as a potentially disease modifying treatment for knee osteoarthritis (kOA), a globally prevalent condition with unmet medical needs. We believe Paradigm’s comprehensive Phase III programme is designed to maximise the potential of iPPS in kOA. The company is also investigating the use of iPPS in mucopolysaccharidosis (MPS) types I and VI, rare genetic diseases. At end-September 2022, the company had A$92.4m in cash, supported by an August 2022 capital raise of A$66.0m, which management expects will provide a runway into Q124. Additional cash will be needed to fund the final part of the Phase III programme.\n\n \n\nR&D expenditure constitutes over 80% of Paradigm’s total operating expenses, resulting in an operating cash burn of A$32.2m in FY22. Management expects higher cash burn in future as the company progress its Phase III programme. Considering the current run-rate and recent equity financing, management estimates a cash runway into Q124; however, the company is actively pursuing an out-licensing partnership, payments from which could extend this runway.\n\nClick here to view the full report or here to sign up to receive research as it is published. \n\n \n\nAll reports published by Edison are available to download free of charge from its website\n\nwww.edisongroup.com\n\nAbout Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached – across institutions, family offices, wealth managers and retail investors – Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. \n\nHaving been the first in-market 17 years ago, Edison now has more than 100 analy...