Paradigm Biopharma - Funded past near-term inflection points
Cash flow figures from Paradigm Biopharmaceuticals’ latest update show that it remains funded past key near-term inflection points. In Q223, management reported a net cash outflow from operating activities of A$7.8m (A$17.8m for the first six months of FY23), including an A$7.4m R&D tax incentive rebate, and no capital expenditure. R&D expenditure increased 54% q-o-q to A$13.2m, corresponding with ongoing recruitment and site identification for the pivotal PARA_OA_002 Phase III trial of iPPS in knee osteoarthritis and an increase in other clinical activities. With cash of A$83.9m at end Q223 and at the current quarterly burn rate (adjusted for the non-recurring R&D tax incentive, A$15.2m), management estimates that operations are funded into 2024 (5.5 quarters), past important clinical milestones in Paradigm’s osteoarthritis programme in 2023.Paradigm Biopharmaceuticals is engaged in the research and development of therapeutic products for human use. Co. patents include: (1) BME patent - the use of the drug Pentosan Polysulphate Sodium (PPS) for treatment of Bone Marrow (o)Edema (BME). This patent is granted in the United States, Australia and New Zealand. (2) Respiratory patent - PPS for treating Allergic Rhinitis, Allergic Asthma and COPD from Glycan Biosciences LLC. This patent is granted in Australia, New Zealand, and China. (3) Exosome patent - is being prosecuted in all major markets
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