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Paradigm Biopharmaceuticals Ltd. ( (AU:PAR) ) has issued an update.
Paradigm Biopharmaceuticals Ltd. reported a significant decrease in losses for the half-year ending December 2024, with a net loss of $5.92 million compared to $44.13 million in the previous period. This improvement is primarily due to reduced research and development costs following the conclusion of the PARA_OA_002 study, which was critical in determining the optimal dosing for their Phase 3 osteoarthritis treatment. Despite the reduced losses, the company anticipates continued financial challenges as it progresses with its clinical and regulatory efforts.
More about Paradigm Biopharmaceuticals Ltd.
Paradigm Biopharmaceuticals Ltd. is a late-stage clinical development company focusing on advancing its lead Phase 3 asset, iPPS, for the treatment of osteoarthritis. The company is investing in clinical, regulatory, and commercial activities to support the development of iPPS, which has the potential to become a blockbuster treatment for osteoarthritis.
YTD Price Performance: 27.04%
Average Trading Volume: 8,346
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $133.9M
For an in-depth examination of PAR stock, go to TipRanks’ Stock Analysis page.