Paradigm Biopharmaceuticals halts Phase 3 trial over missing data

• Paradigm Biopharmaceuticals failed to hit the required interim efficacy threshold for its late-stage trial.
• Shares in the biotech remain in voluntary suspension as the company reviews its financial position.
• The business is evaluating data quality issues and funding arrangements to determine its next steps.

Paradigm Biopharmaceuticals (ASX:PAR) has missed a key efficacy threshold in its Phase 3 trial for knee osteoarthritis.

The setback occurred after operational challenges during the study caused a significant amount of missing participant data.

Paradigm Executive Chairman, Paul Rennie, "The board and the entire Paradigm team are deeply disappointed by this outcome. We recognise the disappointment it brings to our shareholders and everyone who has supported the programme."

The company requested that its securities remain in voluntary suspension until it releases a full update on its funding implications by 28 September 2026.

Following the announcement, the Paradigm Biopharmaceuticals share price was unchanged at $0.24.

The biotech developer continues to retain a substantial intellectual property portfolio while reviewing its path forward.

The business is also assessing its current operational setup and funding arrangements with partner Obsidian to protect shareholder value.