Paradigm Biopharmaceuticals (ASX:PAR) said it has the required number of participants to meet the 25% recruitment milestone for its phase 3 PARA_OA_012 clinical trial, according to a Tuesday filing with the Australian bourse.

The trial is evaluating the company's drug candidate, injectable pentosan polysulfate sodium, for the potential treatment of knee osteoarthritis, the filing said.

The company expects to start dosing a number of participants in the trial next year, and sees the 50% recruitment milestone achieved shortly after the completion of the 25% dosing milestone, the filing added.

The company said it is on track for an interim analysis of the trial in mid-2026. The primary endpoint analysis for the full patient group is expected in the fourth quarter of 2026.