Neurizon Announces Partial Redemption of Convertible Notes

Key points

• Neurizon to redeem 1,000,000 convertible notes, reducing the number outstanding to 750,000
• Redemption completed for total consideration of US$1,150,000
• Obsidian agrees not to sell Neurizon shares for two months
• Neurizon remains fully funded through to topline readout of HEALEY ALS Platform Trial

Full summary

Neurizon Therapeutics Limited (ASX: NUZ) has announced the partial redemption of 1,000,000 convertible notes held by Obsidian, reducing the total number of outstanding notes to 750,000. The transaction, valued at US$1,150,000, is part of Neurizon's disciplined approach to capital management. As part of the agreement, Obsidian has committed to a two-month standstill on selling Neurizon shares. The company remains fully funded through to the topline readout of the Phase 2/3 HEALEY ALS Platform Trial and the completion of the study.

Guidance

Neurizon confirms full funding through to the topline readout of the HEALEY ALS Platform Trial.

Outlook

Neurizon remains focused on ensuring its funding strategy is optimized and in the best interest of all shareholders.