Glucotrack appoints new VP for clinical trials

RUTHERFORD, NJ - Glucotrack, Inc. (NASDAQ:GCTK), a medical technology firm specializing in diabetes care, today announced the recruitment of Sandie Martha as Vice President of Clinical Operations. Martha, who has over two decades of experience in clinical research, will lead the company's upcoming human clinical trials for its Continuous Blood Glucose Monitor (CBGM) system.

Martha's previous roles include leadership positions at Glysens, Dexcom (NASDAQ:DXCM), Luminous Medical, Intersection Medical, and Truvian. She holds a Master of Science in Physiology from San Diego State University and a Bachelor of Science in Biological Sciences from the University of Miami.

In her new role, Martha will be responsible for executing Glucotrack's Clinical Trial Program, which includes strategic partnerships with Contract Research Organizations (CROs), clinical centers, and investigators. She will also manage the development and execution of clinical protocols and oversee the monitoring and analysis of data for clinical study reports.

Paul Goode, PhD, President and CEO of Glucotrack, expressed enthusiasm for Martha's appointment, citing her impressive track record and the depth of her experience in leading global clinical trials. Goode stressed the importance of Martha's expertise as the company prepares to bring its CBGM technology to market for the benefit of millions living with diabetes.

The CBGM technology by Glucotrack is designed to provide real-time continuous blood glucose data, offering a less intrusive monitoring approach for extended periods. This aligns with Martha's personal passion for advancing glucose monitoring technologies, which she shared in her statement, emphasizing the potential to improve the lives of those managing diabetes.

Glucotrack's CBGM is an implantable system that aims to measure blood glucose levels continually, with sensor longevity exceeding two years and minimal calibration required.

This news is based on a press release statement and contains forward-looking statements, including the potential effects and benefits of the CBGM system. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated.

In other recent news, Glucotrack, Inc. has reported significant advancements in its Continuous Blood Glucose Monitor (CBGM) technology. The medical technology company has successfully completed a second long-term preclinical study, demonstrating a Mean Absolute Relative Difference (MARD) of 4.7% at Day 90. This metric indicates high accuracy in continuous glucose monitoring, an important factor for diabetes patients.

In addition to this breakthrough, Glucotrack has announced the appointment of Andy Balo, a seasoned veteran in the diabetes care industry, to its Board of Directors. Balo's extensive regulatory, clinical, and quality experience is expected to contribute significantly as Glucotrack advances its CBGM technology.

Furthermore, the company has initiated a 1-for-5 reverse stock split of its common stock, a strategic move intended to meet Nasdaq's minimum bid price requirement. These recent developments highlight Glucotrack's ongoing efforts to advance diabetes management technology and to meet the needs of its investors. The company is now gearing up for human clinical trials later this year, further advancing its mission to improve the quality of life for people with diabetes.

InvestingPro Insights

Glucotrack, Inc. (NASDAQ:GCTK) remains a hot topic in the investment community, especially with the recent strategic appointment of Sandie Martha to spearhead its Clinical Trial Program. As the company gears up to revolutionize diabetes care with its Continuous Blood Glucose Monitor system, investors are closely monitoring its financial health and stock performance.

InvestingPro data suggests a significant uptick in Glucotrack's stock price, with a 12.71% return over the last week and a staggering 95.59% increase over the past month. This surge in stock price is complemented by a robust year-to-date price total return of 103.44%, highlighting the positive investor sentiment surrounding the company's prospects.

However, Glucotrack's financials reveal some areas of concern. The company is currently operating with a market capitalization of $14.57 million and a negative P/E ratio of -1.1, indicating that it is not profitable as of the last twelve months. Additionally, Glucotrack's operating income stands at a loss of -$12.08 million, emphasizing the need for the company to manage its cash burn effectively.

InvestingPro Tips reveal that Glucotrack's stock is considered to be in overbought territory according to the Relative Strength Index (RSI), and the company is quickly burning through cash, which could raise flags for potential investors. Moreover, the firm's short-term obligations exceed its liquid assets, presenting a liquidity risk that needs to be managed carefully.

Despite these challenges, the company's advancements in the medical technology space, particularly for diabetes care, continue to drive investor interest. For those keen on exploring more about Glucotrack's financials and stock performance, InvestingPro offers additional insights and tips at https://www.investing.com/pro/GCTK, including a comprehensive analysis of the company's debt levels, gross profit margins, and dividend policy.

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