$PAR - PARADIGM BIOPHARMACEUTICALS - Steady riser

PARADIGM BIOPHARMACEUTICALS (PAR:ASX)

Has been trending nicely for a while now. More good news today with their next announcement "PARADIGM REPORTS CONSISTENT >50% PAIN REDUCTION IN KNEE OSTEOARTHRITIS PATIENTS"

I like these kind of stocks in the medical space that are looking for alternative treatments to surgery. In the increasing world or obesity and ageing populations knee pain is massively increasing. How many people do you know of that have had some kind of knee surgery.

Paradigm Biopharmaceuticals Limited is a biopharmaceutical company focused on repurposing the drug pentosan polysulfate sodium (PPS) for the treatment of inflammation. The Company is engaged in researching and developing therapeutic products for human use. The Company is a drug repurposing company, which seeks to find new uses for old drugs. The Company has commenced the open labelled Phase II clinical trial, investigating the role of the drug PPS in treating traumatic Bone Marrow Lesions. The Company's Rhinosul has properties consisting of both histamine stabilizing and anti-inflammatory properties. The Company focuses on repurposing PPS under ZILOSUL name, as a treatment for bone marrow edema (BME) lesions following traumatic injury.

I hold.

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WOW! Big spike on news. Interesting that someone was prepared to buy up to $2.15 which would suggest that after some pullback and consolidation there is quite a bit of room to move up from the current price.

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PAR might be back at an interesting support area. Good upside potential if it rallies.

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PAR broke $4 mid November. Might be well worth another look as seems to be recovering well from the last pull back.

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PAR managed to push through to $4.07 in this mornings trading on no news before a pull back to $3.90.

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Could be worth a watch depending on what the market does as a whole... (eg are we at the bottom or is there another 20% dip on its way)