PAR (ASX) Ann: Paradigm AGM Presentation

Originally posted by Dungiven: ↑

I had the video on in the background while I was doing other things. When the effects of the HC attendees' long lunch wear off we'll no doubt get some extensive notes and thoughts being generously relayed to us - but a few little snippets I picked up were...

Circa 30 NDA's have been signed by organisations privy to the dataroom
PAR are instigating a time limit on due diligence for potential partners. The idea is that all potential partners will have to show their interest by a certain point or presumably be cut out of the running. PR said that this was to create "competitive tension", but it sounds like they are keen to move things along.
Going with MPS first is a strategy decision because of the potentially high price-point which could be charged for the therapeutic. This could influence pricing for future indications (I wasn't listening very closely here so others can add colour to this).
Plexus and Angel Pond (for China only) have been retained to catalyse the search for perfect partners, and open doors at the upper levels of Big Pharma. Good track record apparently.
Paul also threw in some anecdotal feedback from potential partners who they have already had early-stage discussions with who have apparently been excited and impressed by our results (008 included) asking "where have you been all this time". PR continues to come across as uber-confident that the product will see success. We've heard this anecdotal stuff before, of course, but Paul - despite looking quite at ease at all times - was sort of on the defensive a little bit today due to the question marks around Marco / him jumping back into the MD role. I felt that these kind of anecdotes were delivered with less bombast than a few years back, and it was more a relaxed plea that everything is going well. Paul even claimed that this the most exciting phase of PAR he has yet experienced. We'll eventually all see what happens - but he was definitely trying to inspire cofidence.
008 6-month data will include high-quality MRI data which looks at cartilage, subchondral bone, and the synovial tissue. Due Q1 2023 according to the slide, but I reckon the hordes will be baying around 31st January. Hopefully we see it then. One of Donna's slides also reiterated what Simon had told me - that once in receipt of 008 6-month data, PAR will have meetings with the relevant agencies and determine (based on the information at hand) whether to make their application for TGA provisional approval to sell in Australia (application is at least a 10-month process, but might feasibly mean that Aus sales could potentially begin in early-CY24).

That's kind of all I remember. The questions were predictably, "why did Marco leave?", "why are you now able to do the job, when previously you couldn't?" (ans: serious health issue in Paul's close family, now happily resolved by the sounds of it), and there were some about why the patents / Bene agreements weren't classed as assets in the company finances (CFO explained why). One thing i'd say is that David Baker from Baker Young gave a whole filibuster speech about why the CR was such a success and a smart move. I hated that, to be honest. The time for questions is short and valuable for shareholders, and shouldn't be gobbled-up by managements pals blowing them kisses from the gallery.

Anyway, whatevs, on we go.

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@Dungiven I had a chat with David Baker after the meeting about the cap raise and if that would see us through the phase III trials. He said it pretty much would. I then spoke with Paul about the same and he was indicating the opposite, but that he expected the funds from a partnership before then would cover what was required. Not sure how much weight I would put on David Baker's comments after that, as I would expect a stock broker this well connected would know the capital requirements of the business.

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