Shares in an ASX-listed company that makes medical devices for children with autism shot higher by 60% this morning.
It follows an announcement by the company, Neurotech International, of a successful preliminary trial in the US for its Mente Autism device.
The stock continued to climb in afternoon trade, and a short time ago it was up almost 90% from its recent trading range:
The Mente Autism device comes in the form of a headband which a child wears for 40 minutes each morning.
Based on the brainwaves that the device records, algorithms then determine a specific type audio to be played back to the child via headphones, which has the effect of regulating certain brainwaves that are commonly associated with autism.
The result is improved communication skills, focus and general behaviour.
In an announcement on the ASX, Neurotech International said it “has received excellent preliminary findings for its Mente Autism device in the Child Autism Study being conducted by US-based Carrick Institute”.
The company presented its findings at the Cambridge International Conference on Mental Health last week.
Neurotech International listed on the ASX in November last year.