Why this ASX300 healthcare share price is up 414% in the last year

Paradigm Biopharmaceuticals Ltd (ASX: PAR) shares remain in a trading halt after announcing a capital raise to support the next phase of its osteoarthritis trial – but is Paradigm in the buy zone?

What did Paradigm release this morning?

Paradigm’s Phase 2B clinical trial met key secondary end-points in osteoarthritis of the knee, with subjects receiving injectible pentosan polysulfate sodium (iPPS) were shown to have improved knee function and durable pain reduction for 6 months.

The positive secondary end-points and other strong results highlight the potential of iPPS to slow progression of osteoarthritis, and follows the successful completion of its phase 2b randomised, double-blind and placebo-controlled trial in December 2018.

Paradigm followed up the trial program update with a $77.9 million capital raise comprising a $51.5 million placement and a $26.3 million underwritten accelerated entitlement offer to fund the program.

The company expects to use the funds to fund its ongoing programs through

... read more at: https://www.fool.com.au/2019/04/15/why-this-asx300-healthcare-share-price-is-up-414-in-the-last-year/

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