Neurotech soars 85pc after ‘thrilling’ test results on autism headband
Health & Biotech
Health & Biotech
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Medical device maker Neurotech is up almost 85 per cent after positive results from a test of its headband to treat the symptoms of children’s autism.
Neurotech shares jumped 13.5c to 30c in Wednesday afternoon trade — up 85 per cent on news of the initial results from the US study.
Neurotech’s (ASX:NTI) Mente Autism device monitors a child’s brain waves using a portable head band – measuring changes in brain activity associated with sounds to help relax the minds of children on the spectrum and help them to focus.
Findings were presented by Professor Frederick Carrick in Cambridge earlier this month:
“The study is ongoing but half of the children in our study have completed it and we have observed major positive changes in the children in the active arm of the study and no statistical changes in the control groups of the children that did not receive the active treatment,” he said.
Senior researcher Dr Ahmed Hankir described the results as “thrilling”.
“The Child Autism Study using the Mente Autism device is one of the most exciting investigations this year,” Dr Hankir said.
“The changes observed in autistic children after a 12-week clinical trial are outstanding with many of the children with autism scoring in a normal range after the treatment.”
Full results from the trial are expected by the end of the year, but doctors hope the treatment could be a non-invasive alternative to drugs or surgery.
The Malta-based company listed after a $7 million IPO in November last year, and made a $4 million loss last year.
They had $2.6 million in the kitty at the end of June.
The company is in the process of obtaining FDA approval, with a final submission slated for early 2018.