Paradigm Biopharmaceuticals Limited (ASX: PAR) Responds to ASX Price Query
Recent Trading Activity
Paradigm Biopharmaceuticals Limited (ASX: PAR) confirms that it is not aware of any undisclosed information regarding its securities that could explain the recent increase in share price and trading volume. This clarification follows the ASX’s inquiry into the company’s trading fluctuations observed from 22 November to 25 November 2024.
Clinical Trial Updates
The company received an update on its Phase 3 clinical trial protocol submission to the U.S. Food and Drug Administration (FDA) on 31 October 2024. The FDA’s standard review period is 30 days, with a response expected by 28 November 2024. Paradigm anticipates starting its clinical trial evaluating injectable pentosan polysulfate sodium (iPPS) for treating knee osteoarthritis (OA) if no feedback is received.
Additionally, Paradigm expects a response to its Determination Application submitted to the Therapeutic Goods Administration (TGA) during the December quarter, a critical step towards receiving provisional approval for iPPS in Australia.
Paradigm Biopharmaceuticals confirms compliance with ASX Listing Rules, particularly Rule 3.1, regarding continuous disclosure of information to the market. The company’s responses have been authorised under its continuous disclosure policy by its board.
Executive Comments
Abby Macnish Niven, CFO & Company Secretary of Paradigm Biopharmaceuticals, stated, “We remain committed to regulatory compliance and transparency with our shareholders regarding our ongoing projects and initiatives.”
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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