Paradigm Biopharmaceuticals Ltd. Successfully Completes Oversubscribed SPP
Key points
- Share Purchase Plan significantly oversubscribed, raising $7.375 million.
- Combined with recent Placement, total capital raised is $21.375 million.
- Additional capital strengthens balance sheet for Phase 3 clinical trial.
Full summary
Paradigm Biopharmaceuticals Ltd. (ASX: PAR) has announced the successful completion of its Share Purchase Plan (SPP), which raised approximately $7.375 million, significantly exceeding the original target of $2.0 million. The SPP was strongly supported by existing shareholders, with the issue price set at $0.17 per share, a 2.5% discount to the 5-day VWAP. This capital, combined with the $14.0 million raised through a recent Placement, brings the total capital raised to approximately $21.375 million. This additional funding will provide Paradigm with the necessary resources to advance its global Phase 3 PARA_OA_012 clinical trial, with an interim analysis expected in Q3 CY2026.
Guidance
Total capital raised: $21.375 million; Interim analysis expected Q3 CY2026
Outlook
The additional capital will support ongoing clinical trials and prepare for significant value inflection points, including 100% dosing in the Phase 3 study.
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