Paradigm Biopharmaceuticals : Half Yearly Report and Accounts

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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)

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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.

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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

1. Attachments
   The report of half year ended 31 December 2021 is attached.
2. 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