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- Paradigm Biopharmaceuticals (PAR) enters into a trading halt ahead of a capital raise
- There is currently no details on how much the company is aiming to raise or where it plans to spend the money
- Under the halt, company shares will be paused until Monday, August 15, or when further information has been released to the market
- Shares in Paradigm last traded at $1.99 on August 10
Paradigm Biopharmaceuticals (PAR) has entered into a trading halt ahead of a capital raise.
There aren’t currently any details on how much the company is aiming to raise or how it plans to spend the money.
Under the halt, company shares will be paused until Monday, August 15, or when further information has been released to the market.
Paradigm is a drug repurposing company working with some of the world’s leaders in pharmaceutical product development and approaching science from a completely different angle.
The company had an eventful July, during which time it entered into a corporate partnership with NFL Alumni Health.
The partnership will inform the NFL Alumni members about osteoarthritis disease onset, current treatment options, and provide information about actively enrolling clinical trials throughout the US.
Also in July, Paradigm completed recruitment for its phase two clinical trial for treating knee osteoarthritis.
In its recent quarterly update, the company announced having over $39.7 million in cash and an estimated 4.68 quarters left of available funding
Shares in Paradigm last traded at $1.99 on August 10.
