GlucoTrack, Inc., a leading medical technology company specializing in innovative diabetes solutions, recently filed with the Delaware Secretary of State a Certificate of Amendment to its Certificate of Incorporation. The amendment, effective as of February 3, 2025, initiated a one-for-twenty reverse stock split of the company’s common stock, with stockholder approval obtained at a special meeting on January 3, 2025.
As a result of the reverse stock split, every 20 existing shares of common stock have been consolidated into one share, adjusting the total outstanding shares from approximately 155.5 million to around 7.8 million. The company’s transfer agent, VStock Transfer, LLC, will manage the logistics of this reverse split for shareholders, ensuring a smooth transition.
In tandem with this corporate action, GlucoTrack also disclosed the successful completion of its initial human clinical study for the continuous blood glucose monitor (CBGM) system. This study marked a pivotal milestone for the company as it demonstrated the safety and functionality of the CBGM in a real-world setting. The CBGM offers a unique approach to blood glucose monitoring by providing continuous, direct blood glucose measurement through an intravascular sensor lead placed in the subclavian vein.
The study, which encompassed six participants with diabetes mellitus, showed no severe adverse events associated with the CBGM sensor lead. Dr. Paul V. Goode, GlucoTrack’s CEO, expressed satisfaction with the study’s outcomes and emphasized the system’s accuracy and safety during the trial period.
Moreover, experts in the field, including Dr. David Klonoff, Clinical Professor of Medicine at the University of California, San Francisco, commended GlucoTrack’s achievement. Dr. Klonoff highlighted the potential this technological advancement offers in the realm of continuous glucose monitoring for diabetes management.
As GlucoTrack advances its breakthrough technology through successful trials and regulatory processes, the company remains committed to addressing the evolving needs of individuals with diabetes. Investors and stakeholders are encouraged to monitor future updates from GlucoTrack as it reshapes the landscape of diabetes care through innovation and technology.
This news is illustrative of GlucoTrack’s dedication to advancing diabetes management through pioneering solutions, as evidenced by the successful implementation of the reverse stock split and the positive results from its first human clinical study for the CBGM system.
The full details of the Certificate of Amendment and the clinical study announcement can be accessed through GlucoTrack’s recent SEC filings. Interested individuals can visit GlucoTrack’s official website for more information on its innovative technology and recent developments.
This press release is for informational purposes only and does not constitute an offer or solicitation to buy or sell securities.
Contact:
Investor Relations: [email protected]
Media Inquiries: [email protected]
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read GlucoTrack’s 8K filing here.
About GlucoTrack
GlucoTrack, Inc, a medical device company, focused on the design, development, and commercialization of novel technologies for people with diabetes in the United States. It develops GlucoTrack, a noninvasive glucose monitoring device that helps people with diabetes and pre-diabetics to obtain blood glucose level readings without the pain.
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