Submitted Investigational Device Exemption (IDE) application to the
Company targeting
Peer-Reviewed Studies published in
“During the quarter, we made meaningful progress advancing our CBGM program while further strengthening our foundation as a company,” said
First Quarter 2026 & Recent Highlights
Corporate Highlights
- The Company held its third
Patient Advisory Board (PAB) meeting during which patients shared perspectives on diabetes device prescribing and initiation, as well as their experiences with healthcare provider education and preparedness. - Strengthened balance sheet with debt reduction. The Company reduced the outstanding balance of its
$3.6 million promissory note to approximately$1.6 million , primarily through the exchange of a portion of the note into shares of common stock at market price. Subsequent to quarter end, the Company drew approximately$1.0 million under its existing equity line of credit facility, further strengthening its cash position.
Advanced Product and Clinical Development
- The Company successfully submitted its IDE application to the FDA to initiate a
U.S. clinical study for its fully implantable CBGM technology. The submission represents a key milestone in advancing the Company's CBGM technology intoU.S. clinical evaluation, supported by several years of focused engineering, preclinical evaluation, and iterative design work. - In a peer-reviewed article titled, “Year-Long Measurement of Glucose Oxidase Deactivation in Electrochemical Glucose Sensors,” published in the
IEEE Sensors Journal , the Company reported data validating the long-term stability of its glucose oxidase sensor, providing foundational scientific evidence to support the device’s intended three-year longevity. - In a peer-reviewed article titled, “In Vivo Evaluation of a Novel Long-Term Intravascular Implantable Continuous Blood Glucose Monitor in an Ovine Model: A
Glucotrack Inc. Investigation,” published inThe Journal of Diabetes Research , the Company reported data demonstrating the long-term accuracy and stability of the Company’s fully implantable CBGM system. The in-vivo ovine study showed a 6.8% Mean Absolute Relative Difference (MARD) and sustained sensor performance over 240 days, supporting the platform’s progression toward clinical studies.
Anticipated Milestones
- Initiate
U.S. clinical study of the Company’s CBGM in 2H 2026. - Present clinical data demonstrating the safety and accuracy of the CBGM technology at additional industry conferences, with timing and venues to be determined as data become available.
- Continue to gain insight from patients living with diabetes on current management challenges and receive feedback on Glucotrack’s product development and commercialization strategies through additional PAB meetings.
Financial Results for the Quarter ended
Research and Development Expenses: Research and development expenses were
General and Administrative Expenses: General and Administrative expenses were
Other (Income) Expense, Net: Other expense was
Net Loss: Net loss for the first quarter of 2026 was
Cash Position: Cash and cash equivalents as of
Based on current plans and assumptions, the Company believes that its existing cash and cash equivalents will provide sufficient runway into early 3Q 2026, allowing for the initiation of its
The Glucotrack Continuous Blood Glucose Monitor is an Investigational Device and is limited by federal (or
For more information about Glucotrack’s CBGM, visit glucotrack.com. Information on the Company’s website does not constitute a part of and is not incorporated by reference into this press release.
About Glucotrack, Inc.
Glucotrack’s Continuous Blood Glucose Monitor (CBGM) is a long-term, implantable system that continually measures blood glucose levels with a sensor longevity of 3 years, no on-body wearable component and with minimal calibration. The Glucotrack CBGM is an Investigational Device and is limited by federal (or
For more information, please visit http://www.glucotrack.com. Information on the Company’s website does not constitute a part of and is not incorporated by reference into this press release.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as “anticipate”, “believe”, “expect”, “plan” and “will” are intended to identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, management. These statements relate only to events as of the date on which the statements are made, and
Contacts:
| Investor Relations: | Media: |
| investors@glucotrack.com | GlucotrackPR@icrinc.com |
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands of US dollars except share data)
| In thousands of US dollars (except stock data) | ||||||||
2026 | 2025 | |||||||
| Unaudited | ||||||||
| Current Assets | ||||||||
| Cash and cash equivalents | $ | 3,929 | $ | 7,383 | ||||
| Other current assets | 285 | 284 | ||||||
| Total current assets | 4,214 | 7,667 | ||||||
| Operating lease right-of-use asset, net | 26 | 33 | ||||||
| Property and equipment, net | 116 | 138 | ||||||
| TOTAL ASSETS | $ | 4,356 | $ | 7,838 | ||||
| LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY | ||||||||
| Current Liabilities | ||||||||
| Accounts payable | $ | 1,299 | $ | 1,317 | ||||
| Operating lease liability, current | 26 | 28 | ||||||
| Promissory notes | 3,330 | 3,182 | ||||||
| Other current liabilities | 320 | 246 | ||||||
| Total current liabilities | 4,975 | 4,773 | ||||||
| Non-Current Liabilities | ||||||||
| Derivative financial liabilities | - | 1 | ||||||
| Operating lease liability, non-current | - | 5 | ||||||
| Loans from stockholders | 232 | 231 | ||||||
| Total liabilities | 5,207 | 5,010 | ||||||
| Commitments and contingent liabilities (Note 5) | ||||||||
| Stockholders’ Equity (Deficit) | ||||||||
| Common Stock of | ||||||||
| 250,000,000 shares authorized as of | 3 | 1 | ||||||
| Additional paid-in capital | 155,274 | 151,080 | ||||||
| Receipts on account of shares | - | 3,544 | ||||||
| Accumulated other comprehensive income | 44 | 41 | ||||||
| Accumulated deficit | (156,172 | ) | (151,838 | ) | ||||
| Total stockholders’ equity (deficit) | (851 | ) | 2,828 | |||||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | $ | 4,356 | $ | 7,838 | ||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(in thousands of US dollars except share data) (unaudited)
| Three-month period ended | ||||||||
| 2026 | 2025 | |||||||
| Operating expenses: | ||||||||
| Research and development | $ | 2,132 | $ | 1,871 | ||||
| General and administrative | 2,071 | 1,627 | ||||||
| Total operating expenses | 4,203 | 3,498 | ||||||
| Loss from operations | 4,203 | 3,498 | ||||||
| Other (income) expense: | ||||||||
| Change in fair value of derivative liabilities | (1 | ) | 3,376 | |||||
| Other (income) expense, net | 132 | (4 | ) | |||||
| Finance expenses (income), net | - | (37 | ) | |||||
| Total other (income) expense | 131 | 3,335 | ||||||
| Net Loss | 4,334 | 6,833 | ||||||
| Other comprehensive income: | ||||||||
| Foreign currency translation adjustment | (3 | ) | (36 | ) | ||||
| Comprehensive loss for the period | $ | 4,331 | $ | 6,797 | ||||
| Basic and diluted loss per share | $ | 2.65 | $ | 40.14 | ||||
| Weighted average number of Common Stock outstanding used in computing basic and diluted loss per share | 1,638,128 | 169,345 | ||||||
