Glucotrack Stock Price, News & Analysis

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.