Glucotrack Faces Nasdaq Delisting After Bid Price Falls Below $1

What happened

Glucotrack, Inc., a Delaware-based medical device company, disclosed in a Form 8-K filed October 29, 2026, that a Nasdaq Hearings Panel has determined to delist its securities from the Nasdaq Stock Market.

According to the filing, the Panel notified the company in writing on October 28, 2026, that it had failed to satisfy the terms of an exception granted earlier. The exception required Glucotrack to maintain a closing bid price of at least $1.00 for each trading day through November 9, 2026. The company's closing bid price was $0.87 on October 14, 2026, according to the filing.

Trading in Glucotrack's common stock on Nasdaq will be suspended at the open of trading on October 30, 2026. The company said it expects Nasdaq to file a Form 25 with the SEC to delist the securities and deregister them under Section 12(b) of the Securities Exchange Act of 1934.

Glucotrack said it expects and plans for its shares to be quoted by OTC Markets Group upon suspension from Nasdaq, and it intends to submit an application to have its securities traded on the OTCID Market.

The company's common stock closed at $1.39 on the event date, down 32.2% from the previous close of $2.05, according to the price data.

What Glucotrack does

Glucotrack is classified in SEC filings under Surgical & Medical Instruments & Apparatus. The filing itself does not describe the company's current products or operations beyond identifying it as a Delaware corporation headquartered in Rutherford, New Jersey, with common stock listed on Nasdaq under the ticker GCTK.

What this means

Nasdaq Listing Rule 5550(a)(2), the Bid Price Rule, requires a company's shares to trade at or above $1.00 per share to remain on the exchange. When a stock trades below that level for an extended period, Nasdaq can begin delisting proceedings.

A company facing delisting can request a hearing before a Nasdaq Hearings Panel. The Panel can grant an exception — a temporary window to regain compliance — often on conditions. In this case, the condition was that Glucotrack's closing bid price stay at or above $1.00 every trading day through November 9, 2026. The filing states the bid price was $0.87 on October 14, 2026, which did not meet that condition.

A Form 25 is the formal notice that removes a security from an exchange listing. Nasdaq is expected to file it in this case. The filing distinguishes this from a routine bond repayment: the security being delisted is Glucotrack's common stock, not debt securities, so it marks the company's departure from the Nasdaq exchange.

Once suspended from Nasdaq, shares of companies in this position often trade on OTC Markets, an alternative quotation system outside the major exchanges. Glucotrack said it intends to apply for the OTCID tier, a segment of OTC Markets. The filing states this as an expectation and plan, not a completed step. Trading on OTC Markets typically involves different liquidity and reporting characteristics than an exchange listing, though the filing does not detail those differences.

The filing does not state why the bid price fell below $1.00, and it does not explain the company's underlying business performance. It reports only the procedural sequence: the earlier delisting determination, the hearing, the conditional exception, the October 14 bid price, and the Panel's decision.