GlucoTrack, Inc.

What they do

Glucotrack is developing the Glucotrack CBGM, a fully implantable continuous glucose monitoring device for Type 1 and Type 2 diabetes patients. The company acquired the CBGM intellectual property in 2022 and has since conducted animal studies and a first-in-human acute study. It has submitted an IDE application to the FDA to begin U.S. clinical trials. The company no longer commercializes its original non-invasive earlobe device and has ceased all development of that product.

Revenue drivers

• No commercial product revenue — The company has not generated material revenue from product sales; its original product was withdrawn from markets and the CBGM is not yet approved.

Recent performance

For the year ended December 31, 2025, the company reported a net loss of approximately $19.4 million, compared to a $22.6 million loss in 2024. Operating cash flow was negative $15.2 million in 2025. As of March 31, 2026, total assets were $4.4 million, total liabilities were $5.2 million, and shareholder equity was negative $851,000. The company reduced the outstanding balance of its $3.6 million promissory note to approximately $1.6 million through a share exchange.

Strategy

The company's strategy is to advance the Glucotrack CBGM through clinical development and FDA approval. It plans to initiate a U.S. clinical trial in the second half of 2026, subject to IDE approval. The company is also exploring continuous glucose sensing in the epidural space for patients considering spinal cord stimulation. It is reducing debt and supplementing cash through an equity line of credit. Management is also addressing material weaknesses in internal controls, including implementing Oracle NetSuite as an ERP system.

Risks

• History of operating losses — The company has incurred net losses each year since inception and expects losses to continue as it develops the CBGM.
• No approved products — The Glucotrack CBGM is not approved for sale in any market, and the company has no revenue from product sales.
• Nasdaq delisting risk — The company received a delisting notice in May 2026 and may fail to meet Nasdaq's continued listing requirements, including a proposed $5 million market value of listed securities requirement.
• Internal control material weaknesses — The company identified material weaknesses in internal control over financial reporting, including IT controls and segregation of duties, which could affect financial reporting accuracy.

Outlook

Management expects to launch a U.S. clinical trial in the second half of 2026, subject to FDA approval of its IDE, which was submitted in the second quarter of 2026. The company anticipates presenting additional clinical data at industry conferences. It aims to continue strengthening its balance sheet and extending its financial runway, though it notes that profitability is not expected in the near term.