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Paradigm Biopharmaceuticals Provides Quarterly Activities Report

31 Jul 2020  |  16:14:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Quarterly Activities Report

Paradigm Biopharmaceuticals provided quarterly activities report stating that FDA minutes confirmed the complexity and uniqueness of the Bene pharmaChem PPS molecule, being the only FDA approved PPS. The Company updated that in March 26,923,077 shares were issued and placed with Domestic and International Institutions to raise $35m. The proceeds from the placement will be applied to costs of the second Phase 3 osteoarthritis (OA) clinical trial (confirmatory clinical trial). As reported, the Company is fully funded to complete its current clinical programs in OA and MPS through to registration. The Company further updated that it was advised by the FDA that its orphan designation request for MPS-I has been granted, joining the previously granted designation for MPS-VI.

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