Paradigm Biopharmaceuticals (ASXAR) shares were up nearly +25% in morning trades as the company unveiled a loan of around $41 million to advance its osteoarthritis clinical investigations.
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But more exciting to some long-term holders was that the company issued convertible securities at a price of 75cps – suggesting the company (and its funders) believe there’s a good chance the share price could nearly double.
The fact the term facility was not dilutive of existing shares also came warmly received, underscoring, as usual, the kind of things HotCopper users look for. Not that this matters to Paradigm’s forward journey hereafter.
The funds should take the company ahead into mid-2026, citing expectations of being fully funded up until an interim analysis of all existing data.
So far, the company’s drawn down US$7M of the facility to fund clinical operations.
“This funding facility represents a valuable instrument to ensure continued clinical execution while maintaining strategic flexibility. Importantly, it allows Paradigm to pursue key milestones in the phase 3 program with confidence, while preserving optionality around future capital needs,” company MD Paul Rennie said.
“The phase 3 start-up phase is now largely complete, and we are moving forward with the clinical trial site initiation visits with recruitment to begin later this month.”
Disclaimer: HotCopper had a commercial relationship with Paradigm at the time this article was crafted and published.
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AR) shares were up nearly +25% in morning trades as the company unveiled a loan of around $41 million to advance its osteoarthritis clinical investigations.
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