Paradigm Biopharmaceuticals (PAR AU) announced A$66 million capital raising, comprising A$45.7 million institutional placement and rights issue offer of A$20.3 million at A$1.30 per share.
At the completion of the transaction, Paradigm will have a proforma cash position of $108.5 million, which funds the company into 2024.
Paradigm is expected to announce data from one of its key trials related to knee OA pain in September, which will be a near-term catalyst for the company.
Get started on the Smartkarma Research Network with a complimentary Preview Pass to:
Unlock all research summaries
Follow top, independent analysts
Receive personalised alerts and emails
Access Briefings, Analytics, and Events
Upgrade anytime to our paid plans for full-length research, real-time analyst discussions, and more.
Join a thriving community of 45,000+ investors, including the top global asset managers managing over $13trn in assets.