Proactive Investors - Run By Investors For Investors

Paradigm Biopharmaceuticals director buys shares on-market

The company has today commenced the retail component of its $77.9 million capital raising.
man with briefcase running up ascending share price arrow
The non-executive director purchased the shares at an average price of $1.647

Paradigm Biopharmaceuticals Ltd (ASX:PAR) non-executive director Christopher Fullerton has purchased $32,130 worth of shares through on-market trades.

The 19,500-share purchase at an average price of $1.647 increases his overall holding to 855,500 shares.

Notably, this purchase price was done at a premium to the recent capital raising offer price of $1.50.

READ: Paradigm Biopharmaceuticals secures $61.3 million in first stage of raising

The capital raising will raise $77.9 million and comprised of a $61.3 million institutional component, which is complete, and a $16.6 million retail component which opens today.

Paradigm’s chairman Graeme Kaufman said in a letter to shareholders earlier this week: “It is anticipated that they will be applied, in conjunction with the Placement funds, to fund the company’s osteoarthritis and MPS (rare disease) programs through to end of their pivotal phase 3 studies, new drug applications, working capital, costs of offer, further preclinical studies and possibly further intellectual property acquisitions.”

View full PAR profile View Profile

Paradigm Biopharmaceuticals Ltd Timeline

Related Articles

lab worker
May 20 2019
Here we take a closer look at Scancell, which is at the vanguard of immuno-oncology
1550850611_CancerHeadline.jpg
February 22 2019
Broker Hybridan reckons Sareum is “arguably a bargain target for the relatively large group of biotech and pharma companies interested in TYK2 and the wider JAK inhibitor space”
cancerous cells
April 15 2019
The company’s cancer treatment is based on work undertaken by John Beard, a professor of embryology at Edinburgh University nearly 100 years ago
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use