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Paradigm Biopharmaceuticals osteoarthritis clinical trial ahead of schedule

The results readout for the study is expected during the December quarter this year.

folder saying clinical trial with stethoscope
It is estimated that the size of the osteoarthritis treatment market is US$5 billion per annum

Paradigm Biopharmaceuticals Ltd (ASX:PAR) has recruited 80% of participants for its phase IIb clinical trial in knee osteoarthritis and bone marrow lesions.

This places the trial ahead of schedule with recruitment to be finalised over the coming month.

Importantly, this will allow for the pivotal results readout by the December quarter of 2018, a potential catalyst for the stock.

Shares were up almost 12% in early trade to 52.5 cents.

READ: Paradigm Biopharmaceuticals banking on near-term revenues from repurposing FDA approved drugs

The clinical trial will evaluate the effects of pentosan polysulfate sodium (PPS) on pain in participants with knee osteoarthritis and concurrent subchondral bone marrow lesions.

Injectable PPS has the potential to be a break-through in the treatment of osteoarthritis.

current therapies do not have adequate pain-relieving effects, provide no protection for the degenerating joint structures and are also associated with significant adverse side effects.

It is estimated that the size of the market is US$5 billion per annum.

TGA Special Access Scheme opens door to over 260 patients

260 osteoarthritis patients have now been treated by their doctors with PPS via the TGA Special Access Scheme.

This represents an almost doubling of the number of patients from six weeks ago showing real patient need for new osteoarthritis treatments.

Ross River clinical trial 75% recruited

Paradigm is also treating 24 patients with Ross River virus induced arthralgia (painful joints) as part of its phase IIa clinical trial of PPS injections.

The clinical trial is now over 75% recruited.

Quick facts: Paradigm Biopharmaceuticals Ltd

Price: 3.16 AUD

ASX:PAR
Market: ASX
Market Cap: $710.2 m
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