Paradigm Biopharmaceuticals: Raises $35M for osteoarthritis trial
- Paradigm Biopharmaceuticals (PAR) has completed its $35 million placement to help fund its Phase 3 osteoarthritis (OA) clinical trial
- The placement price was $1.30 per share, a 23.1 per cent discount to Paradigm’s last trading price
- Proceeds will not only fund its OA clinical trial, but it’ll give the company financial security throughout the trial’s span
- The company is aiming to develop a safe and effective treatment for sufferers of Osteoarthritis
- CEO Paul Rennie pleased with the placement and said it shows the confidence investors have with the company
- Paradigm is down 5.62 per cent on the market this afternoon, selling shares for $1.60 each
