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Paradigm Biopharma (ASX: PAR)

Currency in AUD

Last close As at 30/11/2023

AUD0.39

▲ −0.01 (−1.27%)

Market capitalisation

AUD139m

Paradigm Biopharmaceuticals is an Australian biotechnology company focused on the development of injectable pentosan polysulfate (iPPS). Its most advanced clinical programme is investigating the drug’s use as a potentially disease modifying treatment for knee osteoarthritis (kOA).

Osteoarthritis is a highly prevalent disease affecting quality of life. Currently, no disease-modifying drugs are available for the condition, resulting in serious unmet medical needs and a potentially significant opportunity for drug developers.

Latest Insights

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Healthcare | Update

Paradigm Biopharmaceuticals — Q1 results recap iPPS progress in OA & MPS

Healthcare | Flash note

Paradigm Biopharma — Disease modifying properties in iPPS Phase II

Healthcare | Update

Paradigm Biopharma — Durable responses observed for kOA

Healthcare | Flash note

Paradigm Biopharma — Progressing toward key near-term objectives
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Sector

Healthcare

Equity Analyst

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

Key Management

  • Paul Rennie

    Managing Director and CEO

  • Simon White

    Director of investor relations

Balance Sheet

Forecast net debt (A$m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (34.0) (34.0) (71.0)
Relative (36.1) (32.4) (70.2)
52 week high/low A$1.5/A$0.4

Financials

Paradigm announced Q1 results (for the quarter ending 30 September) and a A$30m capital raise to potentially extend its cash runway through to mid CY25. Management attributed increased spending in the quarter to increased clinical and recruiting activity, which translated into a higher net cash outflow from operating activities of A$22.5m (vs A$17.1m in Q423). With the PARA_OA_008 programme now concluded, as well as the upcoming completion of the mucopolysaccharidosis (MPS) VI Phase II trial and anticipated lower costs for PARA_OA_002, management expects R&D spend to decline in Q224, from A$21.9 in Q124 (vs A$16.1m in Q423). At the quarter end, the company had a cash balance of A$33.6m.

Y/E Jun Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (fd) (c) P/E (x) P/CF (x)
2022A 0.1 (55.7) (39.2) (16.9) N/A N/A
2023A 0.0 (59.9) (51.9) (21.0) N/A N/A
2024E N/A N/A N/A N/A N/A N/A
2025E N/A N/A N/A N/A N/A N/A

Research

Paradigm Photography Pool Bone

Flash note

Healthcare

Paradigm Biopharma — Disease modifying properties in iPPS Phase II

Update

Healthcare

Paradigm Biopharma — Durable responses observed for kOA
Paradigm Photography Pool Bone

Healthcare

Update

Paradigm Biopharmaceuticals — Q1 results recap iPPS progress in OA & MPS

Paradigm Photography Pool Bone
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Further insights

insight

Healthcare

Healthcare Week 2023

Analyst of the week

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

sromanoff@edisongroup.com 020 3077 5700
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