Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

Paradigm (ASX:PAR) share price drops on drug application update

The share price of Paradigm Biopharmaceuticals Ltd (ASX: PAR) is down today on an update of its new drug application. What does this mean for the Paradigm share price?

Paradigm has repurposed an anti-inflammatory drug called pentosan polysulphate sodium (PPS) to treat multiple new indications, including Osteoarthritis.

PAR share price

Source: Rask Media PAR 2-year share price chart

Paradigm to answer more questions

The company has provided an update on its new drug application to the US Food and Drug Administration (FDA). This is in relation to the proposed clinical trial, treating subjects associated with Knee Osteoarthritis (OA).

After submitting its application on 26 March 2021, Paradigm has received a few questions from the FDA.

These questions were answered within 48 hours of receipt.

However, on 23 April 2021, FDA verbally advised that it would be asking further questions and will submit these questions within the next 30 days.

The company’s understanding is these questions are related to newly submitted non-clinical data.

What now for Paradigm?

Paradigm has advised its prepared to review and answer questions once received and will keep investors up to date.

The future profitability of biotech companies is often determined by the quality of research and development, which needs to be approved by the FDA.

Unless you have expertise in this field and it’s within your circle of competence, I would try to avoid investing in this industry.

If you’re on the hunt for ASX share ideas, I suggest getting a Rask account and accessing our full stock reports. Click this link to join for free.

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

At the time of publishing, the author of this article does not have a financial or commercial interest in any of the companies mentioned.
Skip to content