The Paradigm Biopharmaceuticals (ASX: PAR) share price was trading 1.4% lower today following the release of its half-year financial report on Friday afternoon.
For context, the broader Australian share market or S&P/ASX 200 (ASX: XJO) was trading at 7,114.8, down 0.22%
Who is Paradigm Biopharmaceuticals?
Paradigm has repurposed an anti-inflammatory drug called pentosan polysulphate sodium (PPS) to treat multiple new indications, including Osteoarthritis.
Paradigm Biopharmaceuticals Limited’s financial report
Because Paradigm is a loss-making biotech company, without a current product, it does not have any sales. During the last half, the company reported a loss of $5.1 million, but it had cash reserves worth almost $71 million, as of 31 December, 2019.
Importantly, during the half-year in question the company achieved the following milestones:
- In August 2019 Paradigm reported data on additional biomarker data from the Phase 2b Clinical Trial, demonstrating that iPPS prevents further cartilage loss.
- In September 2019, it received approval from the US FDA for the Extended Access Program (EAP).
- In November 2019, Paradigm met with the TGA and was provided valuable feedback on its initial submission for the provisional approval assessment in gaining provisional approval for ZILOSU(r).
In an update on Thursday, Dr. Donna Skerrett, Paradigm’s Chief Medical Officer, said:
“Improving the lives of MPS patients requires a deep understanding of their medical condition, experiences, needs and priorities of both patient and caregiver.”
“The patient centric research conducted by the Paradigm team provides an opportunity to adopt and use these as a reference point for consistent patient engagement and to develop clinically meaningful endpoints which is especially important in orphan indications”
1 Way To Think About Paradigm
As most established investors know, it can be difficult to value early-stage biotechs.
This A Rich Life article on Paradigm Biopharmaceuticals explores in more detail the idea that there are many different factors to consider. Nonetheless, with the Paradigm share price up around 270% in the last twelve months, the market is obviously finding something exciting about the company.
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