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Paradigm Biopharmaceuticals enters trading halt ahead of capital raising

Shares in the drug development company last traded at 73 cents before the halt.

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The company's lead drug candidate is pentosan polysulfate sodium (PPS)

Paradigm Biopharmaceuticals Ltd (ASX:PAR) has been granted a trading halt by the ASX pending the release of details regarding a capital raising.

Shares in the company will remain halted until the earlier of either the release of the capital raising details or the commencement of trading on Thursday 25 October 2018.

READ: Paradigm Biopharmaceuticals real world data confirms knee pain reduction

Most recently Paradigm received data from an additional 25 patients with osteoarthritis (OA) that were being treated with injectable pentosan polysulfate sodium (iPPS).

This brought the total to 125 patients being treated with iPPS under the TGA’s special access scheme (SAS).

The average reduction in pain scores from the 125 patients was 51.5%.

Positively, this is significantly superior to the typical 15% pain reduction scores reported for opioid treatments for chronic pain in OA of the knee and hip.

Quick facts: Paradigm Biopharmaceuticals Ltd

Price: 3.16 AUD

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