Why the Paradigm (ASX:PAR) share price is climbing higher today

The Paradigm Biopharmaceuticals Ltd (ASX: PAR) share price is climbing higher today after the company started Phase 2 drug trials.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Paradigm Biopharmaceuticals Ltd (ASX: PAR) share price is climbing higher today on news the company has started Phase 2 trials of pentosan polysulphate sodium (iPPS).

In early morning trade, the Paradigm share price is up 1.62% to $3.13.

row of piggy banks with large one receiving injection representing rising Immutep share price

Image source: Getty Images

Phase 2 trial commences

Paradigm advised that it has started Phase 2 trials of iPPS to treat patients who suffer from orphan disease Mucopolysaccharidosis Type 1 (MPS-1).

Led by principal investigator, Dr David Ketteridge, the open label study will recruit up to 10 participants who meet specific criteria. Those enrolled in the trial will receive one of two dosing cohorts, either 0.75mg/kg or 1.5mg/kg. The drug will be administered weekly as an injectable dose for the first 12 weeks and then every second week for the 11-month duration.

Paradigm will seek to primarily assess the safety of iPPS in patients and evaluate if treatment can successfully alleviate pain. The biopharma company said its first patient has been enrolled and had received the first dose of iPPS.

The Phase 2 study will be undertaken at the Adelaide's Women & Children's hospital.

What is MPS-1?

Mucopolysaccharidosis type 1 is a rare metabolic disorder caused by a genetic defect when born. The disorder catabolises heparan sulphate and dermatan sulphates which cause a raft of problems for sufferers. They include abnormal bone development, irregular growth, cardiac and respiratory problems, and sometimes cognitive impairment.

Current treatments available are enzyme replacement therapy (ERT) and hematopoietic stem cell therapy (HSCT). Both therapies work to reduce the accumulation glycosaminoglycans (heparan sulphate and dermatan sulphate).

What did the CEO say?

Commenting on the trial, Paradigm CEO Paul Rennie said:

The data collected from the Phase 2 trial will be vital to support Paradigm's future regulatory filings and applications for the development of PPS as a potential adjunctive therapy to enzyme replacement therapy (ERT) treatments. Our MPS programs will treat subjects as adjunct to ERT as well as previously bone marrow transplanted patients who may or may not remain on ERT.

Paradigm is making significant progress in the clinical development of PPS in both of our two programs of osteoarthritis (Zilosul) and the rare disease of MPS.

It is important to note both the US FDA and EU EMA have confirmed MPS is an orphan indication and as such the commercial advantage of an orphan drug is the 7-year regulatory exclusivity awarded to orphan drugs.

About the Paradigm share price

The Paradigm share price has been up and down over the past 12 months, reaching as high as $4.50 and as low as $1.08.

The company has a market capitalisation of $702.3 million and trades an average volume of 1.1 million shares daily. This shows investors are active when it comes to buying and selling Paradigm shares.

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. 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.

More on ASX Share Market News

Man and woman sitting at table with the man looking a bit puzzled at his laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a tough end to a rough week for investors.

Read more »

Group of people toasting with wine
Broker Notes

Buy, hold, sell: Transurban, Orora, Treasury Wine Estates shares

Here's what top broker Morgans thinks of these 3 ASX 200 shares following their FY26 reports.

Read more »

Businessman studying a high technology holographic stock market chart.
Broker Notes

8 ASX 200 shares with fresh buy ratings this week

Brokers retained a positive view on Westpac, Sonic Healthcare, Minerals 260, and other shares.

Read more »

a group of rockclimbers attached to each other with a rope hang precariously from a steep cliff face with the bottom two climbers not touch the rockface but dangling in midair held only by the rope.
ASX Share Market News

Why DroneShield, Life360 and SGH shares are crashing lower this week

Investors sent Life360, SGH, and DroneShield shares tumbling this week. But why?

Read more »

Woman working on her laptop at a café.
Broker Notes

7 ASX 200 shares downgraded by the experts this week

Brokers reduced their ratings on IAG, Seek, Woolworths, and other ASX 200 stocks.

Read more »

Three trophies in declining sizes with a red curtain backdrop.
ASX Share Market News

3 ASX 200 stocks leaping higher in this week's slumping market on big news

Investors sent these three ASX 200 stocks flying higher in this week’s falling market. But why?

Read more »

A person bounces another up high from a seesaw as the one in the air looks through a telescope into the future.
ASX Share Market News

Why Baby Bunting is leaping 25% on Friday while QBE shares are sinking like a stone

Investors are piling into Baby Bunting shares on Friday and abandoning ASX 200 insurance giant QBE. But why?

Read more »

2 kids riding a mini toy vehicle
Opinions

3 ASX 200 shares I'd want my kids to own for the next 20 years

These are my top picks right now.

Read more »