The Motley Fool

Paradigm Biopharmaceuticals share price higher on Ross River virus trial results

The Paradigm Biopharmaceuticals Ltd (ASX: PAR) share price has been amongst the best performers on the Australian share market this morning.

In early trade the biopharmaceutical company’s shares are 3.5% higher to $1.50.

Why is the Paradigm share price storming higher?

Investors have been fighting to get hold of the company’s shares this morning after it provided an update on its pilot phase 2a randomised, double-blinded placebo-controlled clinical trial in participants with chronic Ross River virus.

Ross River virus is a mosquito transmitted alphavirus that causes epidemic polyarthritis and arthralgias, with about half of patients also experiencing fever and rash. It is Australia’s most common arbovirus with about 5,000 cases notified.

According to the release, the company met its primary end point of safety in the clinical trial which saw participants with chronic Ross River virus induced arthralgia (joint pain or joint stiffness) treated with injectable pentosan polysulfate sodium (iPPS).

In addition to this, the clinical trial’s secondary endpoint was to obtain signals of efficacy of iPPS with regard to alleviation of disease symptoms. This was achieved, with the trial demonstrating a reduction in disease symptoms.

Paradigm’s chief executive officer, Paul Rennie, was very pleased with the trial results and the implications for iPPS.

He said: “We are very pleased to see that this small pilot RRV study has yielded very promising safety data and key efficacy outcomes in the reduction of disease symptoms in this debilitating chronic phase of the disease. The human data on the effects of iPPS in RRV induced arthralgia together with our preclinical work on CHIK-V will progress our commercial discussions with US Department of Defense.”

Elsewhere in the pharmaceutical industry today, the CSL Limited (ASX: CSL) share price and the Telix Pharmaceuticals Ltd (ASX: TLX) share price are both pushing higher in early trade.

NEW. The Motley Fool AU Releases Five Cheap and Good Stocks to Buy for 2020 and beyond!….

Our experts here at The Motley Fool Australia have just released a fantastic report, detailing 5 dirt cheap shares that you can buy in 2020.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading over 40% off its high, all while offering a fully franked dividend yield over 3%...

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click here or the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!

James Mickleboro owns shares in Telix. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.