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Pinnacle Listed Practical Interim Limited
Appendix 4D
Half-year report
1. Company details | |
Name of entity: | Paradigm Biopharmaceuticals Limited |
ABN: | 94 169 346 963 |
Reporting period: | 31 December 2021 |
Previous reporting period: 31 December 2020
2. Results for announcement to the market | |||
$ | $ and % increase/(decrease) over | ||
previous corresponding period | |||
Revenue from continuing activities | 749,966 | 495,492 | 194.71% |
(Loss) from continuing activities after tax attributable to | (26,985,037) | 6,254,542 | 30.17% |
members | |||
Net (loss) for the period attributable to members | (27,011,851) | 6,281,356 | 30.30% |
Dividends (distributions) | Amount per | Franked amount per security | |
security | |||
Final Dividend | N/A | N/A | |
Interim Dividend | N/A | N/A | |
Record date for determining entitlements to the | N/A | ||
dividends (if any) | |||
For personal use only
Pinnacle Listed Practical Interim Limited
Appendix 4D
Half-year report
2. Results for announcement to the market continued
Brief explanation of any of the figures reported above necessary to enable the figures to be understood:
Paradigm Biopharmaceuticals is a late-stage clinical development company with a phase 3 asset under development for treatment of osteoarthritis. In the absence of partnering milestone income or material revenue contributions, profit before tax loses can be expected in the future, as the company continues to incur further Clinical, Regulatory and Commercial expenses to continue the development of Zilosul, a potential blockbuster treatment for osteoarthritis.
During the six months to 31 December 2021, Paradigm Biopharmaceuticals committed significant resources to progressing its clinical program for the development of injectable Pentosan Polysulfate Sodium (iPPS). The Company successfully opened an Investigational New Drug (IND) Phase 3 trial (PARA_OA_002) for treatment of pain and function of knee osteoarthritis. A phase 2 study for MPS VI commenced in Brazil, iPPS presents as the first possible drug therapy targeted specifically at complications associated with MPS including pain and arthropathy in the MPS-VI patient population. Toxicity studies for ongoing chronic (including covering repeat treatment) dosing toxicity studies in both adult and juvenile rats and dogs continued during the period. Our investment in pipeline assets continue with milestones achieved for early-stage research in Acute Respiratory Distress Syndrome (ARDS) and Heart Failure. In terms of Commercial development, some important market research was completed to inform Paradigm about market access for Zilosul, including information on reimbursed pricing in key markets.
3. Net tangible assets | ||
Current Period | Previous corresponding | |
period | ||
Basic loss per ordinary security (cents per | (11.8) cents | (9.1) cents |
share) | ||
Diluted loss per ordinary security (cents per | (11.8) cents | (9.1) cents |
share) | ||
Net tangible asset backing per ordinary | 21.51 cents | 37.75 cents |
security (cents per share) | ||
4. Control gained over entities | ||
Not applicable. | ||
5. Loss of control over entities | ||
Not applicable. |
For personal use only
Paradigm Biopharmaceuticals Limited
Appendix 4D
Half Year report
6. Audit qualification or review
This report is based on accounts to which one of the following applies:
(Tick one) | ||
The accounts have been reviewed | | The accounts are in the process of being |
reviewed |
If the accounts are subject to audit dispute or qualification, a description of the dispute or qualification: N/A
- Attachments
The report of half year ended 31 December 2021 is attached. - Signed
Signed _____________________________
Mr. Paul Rennie
Chairman
24th February 2022
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personalUnlocking new potential
ForHalf-Year Report 31 December 2021
ABN 94 169 346 963
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personalGeneral Information The financial statements cover
Paradigm Biopharmaceuticals
Limited as a Consolidated
ntity, consisting of Paradigm Biopharmaceuticals Limited and its controlled entities (together referred to as the 'Consolidated entity')
at the end of the half-year ended
31 December 2021. The financial Forstatements are presented in
Australian dollars, which is Paradigm Biopharmaceuticals Limited's functional and presentation currency.
Paradigm Biopharmaceuticals Limited is a listed public company limited by shares, incorporated and domiciled in Australia. A description of the nature of the Consolidated Entity's operations and its principal activities are included in the Directors' Report, which is not part of the financial statements.
The financial statements were authorised for issue, in accordance with a resolution of Directors,
on 24 February 2022.
Contents
01
Highlights
02
Osteoarthritis
Update
05
Directors'
Report
06
Auditor's Independence Declaration
07
Consolidated Interim Financial Statements
12
Notes to the Financial Statements
17
Directors'
Declaration
18
Independent Auditor's Review Report
20
Corporate Directory
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Paradigm Biopharmaceuticals Ltd. published this content on 23 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 February 2022 23:00:24 UTC.