Neurotech International issues 19.5M unlisted options

• Neurotech has issued 19.5 million unquoted equity options to fund services for its clinical pipeline.
• The company's stock price decreased following the announcement to close at $0.016.
• The transaction supports the long-term registration and commercialisation strategy for the company's lead drug candidate.

Neurotech International (ASX:NTI) executed an agreement to issue 19.5 million unlisted options for clinical and corporate support services.

This equity expansion follows a multi-year period where company earnings declined by an average of 19% over five years.

The package includes 13 million options exercisable at $0.03.

The company stated that the transaction will support the development, registration, and commercialisation strategy for NTI164.

Following the announcement, the Neurotech share price was down at $0.016.

The biopharmaceutical business focuses on paediatric conditions and recently received U.S. patent allowances valid until 2042.

The company also launched its first clinical site for a Phase 3 paediatric autism trial.