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Check-Cap Ltd. - CHEK STOCK NEWS

Welcome to our dedicated page for Check-Cap Ltd. news (Ticker: CHEK), a resource for investors and traders seeking the latest updates and insights on Check-Cap Ltd. stock.

Check-Cap Ltd. (NASDAQ: CHEK) is a clinical-stage medical diagnostics company pioneering the development of an ingestible imaging capsule designed to improve colorectal cancer (CRC) screening. Established in 2005, Check-Cap aims to revolutionize CRC screening with its innovative C-Scan® system, the first capsule-based technology that allows for preparation-free detection of colonic polyps and CRC.

The C-Scan® system features a unique ingestible capsule that utilizes ultra-low dose X-rays to create a 3D map of the colon. This non-invasive technology moves naturally through the gastrointestinal tract, requiring no bowel preparation or sedation, and allows patients to continue their daily routine without interruption. By identifying clinically significant polyps, C-Scan® facilitates early intervention and prevention of CRC.

Check-Cap’s technology has demonstrated significant promise in preclinical studies and aims to offer several advantages over traditional CRC screening methods. The company's multidisciplinary team, comprising experts in physics, software engineering, electronics, mechanics, and physiology, has been dedicated to advancing this groundbreaking technology.

Recently, Check-Cap has been engaged in various strategic developments, including a proposed business combination with Keystone Dental Holdings, Inc., which was ultimately opposed by major shareholders. Instead, Check-Cap has entered into a definitive Business Combination Agreement with Nobul AI Corp., a high-growth fintech company. This merger is expected to create a public company focused on an AI-driven fintech marketplace, pending approval from regulatory bodies and shareholders.

Financially, Check-Cap has reported significant R&D expenditures and operational losses as it advances its technology and strategic plans. Despite these challenges, the company maintains a robust cash position, ensuring continued development and potential future commercialization of its innovative C-Scan® system.

With operations based in Israel, Check-Cap is poised to market its products across the United States, Europe, Israel, and Japan once regulatory approvals are secured. The company's mission to enhance CRC screening and its ongoing collaborations with scientific and financial partners underscore its commitment to improving global health outcomes.

News

Nobul AI Corp and Check-Cap Ltd Enter into Definitive Business Combination Agreement

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Nobul AI Corp. and Check-Cap have agreed to a business combination to form a North American technology company focusing on an AI-driven fintech marketplace. The combined company, if approved, will be listed on NASDAQ and TSX, with Nobul's executive team leading the merged entity.
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SYMETRYX COMMENTS ON SUCCESSFUL CAMPAIGN AT CHECK-CAP LTD

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Symetryx Corporation (Symetryx) (NASDAQ: CHEK) successfully elected all director nominees proposed by Symetryx at the Annual General Meeting, with CHEK shareholders voting overwhelmingly against the proposed merger with Keystone Dental. President Barry R. Shiff expressed gratitude for the support and emphasized the potential upside at CHEK. Check-Cap, based in Isfiya, Israel, developed the breakthrough C-Scan technology to prevent colorectal cancer, receiving regulatory clearances in Europe and FDA Breakthrough Device Designation in 2021.
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CHECK- CAP BOARD MEMBER';S STATEMENT ON THE STAND SUGGESTS A POTENTIAL CONFLICT OF INTEREST WITH KEYSTONE DENTAL

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Symetryx (NASDAQ: CHEK) recommends voting against the Keystone Dental merger and for their qualified independent board nominees. The vote deadline is 11:59 pm EST on December 14th, 2023. Symetryx continues to urge Check-Cap Ltd. shareholders to vote against the Keystone Dental and for the Symetryx slate of highly qualified and independent director nominees. A potential conflict of interest between Uri Geiger, the Chairman of Keystone Dental, and Yuval Yanai, a Check-Cap director, has been revealed during a court hearing in the Haifa Israel Economic District Court.
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CITING THE MANY FDA ADVERSE EFFECTS TO KEYSTONE DENTAL - CHECK-CAP FOUNDER STRONGLY RECOMMENDS VOTING AGAINST THE KEYSTONE DENTAL MERGER ALSO RECOMMENDS VOTING FOR THE SYMETRYX BOARD NOMINEES

Rhea-AI Summary
Symetryx Corporation (NASDAQ: CHEK) continues to urge Check-Cap Ltd. shareholders to vote against the Keystone Dental and for the Symetryx slate of director nominees. Keystone Dental received a deficiency letter from the FDA regarding its Paltop Short Implants, potentially harming its business and negatively impacting shareholders' investment. Hundreds of adverse events have been reported by Keystone Dental to the FDA, which may drive clinicians to choose other brands. Symetryx is urging shareholders to reject the Keystone transaction and support the Symetryx Board nominees to realize the full value of their investment.
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CHECK-CAP FOUNDER STRONGLY RECOMMENDS VOTING AGAINST THE KEYSTONE DENTAL MERGER AND FOR THE SYMETRYX BOARD OF DIRECTORS NOMINEES

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Symetryx Corporation (SYMX) continues to urge Check-Cap Ltd. (CHEK) shareholders to vote against the Keystone Dental transaction and for the Symetryx slate of director nominees. The company believes that the transaction with Keystone Dental does not provide the maximum value for shareholders and that only with a new, independent Board, shareholders will have the best opportunity to realize the full value of their investment.
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Symetryx Today Issues Open Letter to Shareholders In Regard to the Upcoming Annual General Meeting

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Symetryx Corporation (Symetryx) has issued an open letter to shareholders, urging them to vote against the proposed transaction with Keystone Dental and to support Symetryx's five director nominees. Symetryx raises concerns about the unrealistic valuation of Keystone Dental and the troubling cash burn by Check-Cap Board & Management. Symetryx fears that the proposed merger would cause an alarmingly high level of dilution to the shareholders. The Proxy Statement for the Check-Cap Annual General Meeting is scheduled for December 18th, 2023, and Symetryx recommends shareholders to vote against the Keystone Merger Proposal.
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Check-Cap Reports Third Quarter 2023 Financial Results and Provides a Corporate Update

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Check-Cap Ltd. (NASDAQ: CHEK) shareholders will vote on a proposed Business Combination Agreement with Keystone Dental at the Annual General Meeting on Monday, December 18th. Keystone Dental will become the majority holders of the combined company, creating a public company focused on advancing commercial execution and market development of dental implant technologies. The company will trade on the NASDAQ under the symbol 'KSD'. Financial results for the third quarter and nine months ended September 30, 2023, show a decrease in research and development activities, an increase in general and administrative expenses, and a net loss of $2.6 million for the third quarter and $13.9 million for the nine months.
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SYMETRYX OPPOSES CHEK CAP/KEYSTONE MERGER, WILL EVALUATE OPTIONS TO STOP TRANSACTION

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Symetryx opposes Check-Cap/Keystone merger
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Check-Cap Reports Second Quarter 2023 Financial Results

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SYMETRYX CORP INCREASES NON-BINDING OFFER TO ACQUIRE CHECK-CAP TO $4.60 PER SHARE

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Symetryx Corporation has increased its non-binding proposal to acquire Check-Cap LTD to $4.60 per share in cash. Symetryx urges the Check Board to engage in communications and allow due diligence. The proposal is contingent upon various conditions and may create substantial value for Check shareholders.
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FAQ

What is Check-Cap Ltd.?

Check-Cap Ltd. is a clinical-stage medical diagnostics company developing an ingestible imaging capsule for colorectal cancer screening.

What is the C-Scan® system?

C-Scan® is an innovative, preparation-free screening test that uses a capsule to detect colonic polyps and colorectal cancer early.

Why is the C-Scan® capsule significant?

The C-Scan® capsule offers non-invasive, preparation-free CRC screening, providing a patient-friendly alternative to traditional methods.

Where are Check-Cap's operations based?

Check-Cap's operations are based in Israel, with plans to market its products in the United States, Europe, Israel, and Japan.

What recent strategic developments have been announced?

Check-Cap recently announced a proposed business combination with Nobul AI Corp., aiming to create a public AI-driven fintech marketplace.

How does the C-Scan® capsule work?

The capsule is swallowed and moves naturally through the gastrointestinal tract, using ultra-low dose X-rays to create a 3D map of the colon.

Is the C-Scan® capsule available for sale?

C-Scan® is currently an investigational device and is not yet available for sale in the United States.

What financial condition is Check-Cap in?

Check-Cap has reported significant R&D expenses and operational losses but maintains a robust cash position to support ongoing development.

Who are Check-Cap's key partners?

Check-Cap collaborates with scientific and financial partners to advance its technology and strategic initiatives.

What is the status of Check-Cap’s proposed merger with Keystone Dental?

The proposed merger with Keystone Dental was opposed by major shareholders. Check-Cap is now pursuing a merger with Nobul AI Corp.

Stock CHEK logo
Check-Cap Ltd.

Nasdaq:CHEK

CHEK Rankings

#5408 Ranked by Market Cap
N/A Ranked by Dividends

CHEK Stock Data

11.76M
5.85M
25.16%
0.14%
2.83%
Irradiation Apparatus Manufacturing
Manufacturing
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United States of America
P O Box 1271