Glucotrack - GCTK STOCK NEWS

Glucotrack, Inc. (Nasdaq: GCTK), a medical technology company focusing on diabetes management, has secured $4 million in funding from its leading shareholder, John Ballantyne. This funding will support the upcoming First in Human clinical trial for their innovative Continuous Blood Glucose Monitor (CBGM) technology.

CEO Paul V. Goode, PhD, highlighted the company's significant progress in developing their CBGM technology, describing it as a less burdensome approach to glucose monitoring. Ballantyne expressed confidence in the company's potential to deliver strong clinical value to the diabetes community and meaningful value to shareholders, citing the technology's potential to be disruptive in the large and growing diabetes market.

Glucotrack has appointed Andy Balo to its Board of Directors, effective immediately. Balo, a veteran in the diabetes industry, brings decades of experience in regulatory, clinical, and quality domains. He played a key role in shaping Dexcom over 22 years and has coordinated numerous glucose monitoring regulatory submissions and clinical trials globally. Balo has also held leadership roles at St. Jude Medical, Baxter, Pacesetter, and Endocardial Solutions, and has served on several FDA panels. His expertise will be invaluable as Glucotrack advances its continuous blood glucose monitoring technology through clinical and regulatory milestones.

Glucotrack (Nasdaq: GCTK) has announced the successful completion of a 60-day preclinical study for its innovative epidural continuous glucose monitoring sensor. The sensor, implanted in the epidural space of animals, closely tracked glucose levels comparable to both commercially available blood glucose monitors and subcutaneous CGMs. No abnormal clinical signs or delayed latent effects were observed during the study, supporting the sensor's safety and efficacy. This advancement holds promise for simplifying disease management in patients with painful diabetic neuropathy (PDN), a condition affecting over 7 million Americans. CEO Paul V. Goode expressed confidence in the sensor's performance and its potential benefits for diabetes patients.

Glucotrack (Nasdaq: GCTK), a medical technology company specializing in diabetes management, announced its participation in the Sidoti Small Cap Investor Conference. CEO Paul V. Goode will present on June 12, 2024, at 3:15 PM ET, and will also engage in one-on-one meetings. Interested parties can register for the webcast through a provided link.

Glucotrack announced the successful completion of a 90-day preclinical study for its Continuous Blood Glucose Monitor (CBGM), demonstrating sustained accuracy with a Mean Absolute Relative Difference (MARD) of 4.7%. The study, which involved a larger number of animal subjects than previous studies, showcased the CBGM's ability to offer real-time blood glucose measurement without the lag associated with subcutaneous sensors. The device showed no significant adverse effects and outperformed both a commercial blood glucose monitor and a subcutaneous glucose monitor. Glucotrack plans to initiate human clinical trials later this year.

Glucotrack announced promising results from a 30-day segment of its 60-day long-term preclinical study on an epidural glucose monitoring sensor. The sensor, implanted in the epidural space, successfully tracked blood glucose levels and matched the performance of a commercial subcutaneous CGM. No complications or abnormal clinical signs were observed, showcasing the safety and potential efficacy of the device for managing painful diabetic neuropathy. The ongoing study aims to further validate the sensor's long-term performance and durability, potentially benefiting millions of diabetics if approved.

Glucotrack announced a 1-for-5 reverse stock split effective May 20, 2024. Post-split, the shares will continue to trade under the symbol 'GCTK' on Nasdaq, with a new CUSIP number 45824Q606. This move reduces the outstanding shares from 27,392,996 to approximately 5,478,599 and the authorized shares from 500,000,000 to 100,000,000. Fractional shares will not be issued; instead, cash will be paid for fractions based on the average closing price before the split. This reverse split aims to meet Nasdaq's $1.00 minimum bid price requirement and attract institutional investors. The decision was approved by stockholders on April 26, 2024, and by the Board on April 30, 2024. No action is required from shareholders as adjustments will be automatic.

Glucotrack, Inc. (Nasdaq: GCTK) announced that two abstracts have been accepted for poster presentation at the American Diabetes Association 84th Scientific Sessions. The abstracts will cover preclinical data and sensor longevity modeling of the Continuous Blood Glucose Monitor (CBGM). The presentation will take place on June 22, 2024, in Orlando, FL. This conference is a prestigious platform for diabetes research and care innovations. Glucotrack aims to revolutionize continuous glucose monitoring with less intrusion into daily life. The company's CEO, Paul V. Goode, Ph.D., is eager to share the groundbreaking data with the diabetes community.