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RUTHERFORD, N.J. - Glucotrack, Inc. (NASDAQ: GCTK), a medical device company with a market capitalization of $2.08 million, has announced a collaboration with OneTwo Analytics AB, a healthtech firm specializing in AI-driven analytics for diabetes data. According to InvestingPro analysis, while the company maintains a strong liquidity position with a current ratio of 4.52, its overall financial health score remains weak at 0.76. The partnership aims to enhance the evaluation of Glucotrack’s Continuous Blood Glucose Monitor (CBGM) clinical study data using advanced artificial intelligence and machine learning analytics.
The CBGM, a novel device in Glucotrack’s portfolio, measures glucose directly from the blood, offering real-time readings without the delay associated with traditional continuous glucose monitors that rely on interstitial fluid measurements. This long-term implantable device, which requires no external components on the body, is designed to provide three years of continuous and accurate blood glucose monitoring, aiming to improve convenience and reduce intrusion for users. InvestingPro data shows the company holds more cash than debt on its balance sheet, though it’s currently experiencing rapid cash burn with an EBITDA of -$14.51 million in the last twelve months.
OneTwo Analytics brings expertise in simplifying complex diabetes data to deliver clear insights, which could empower healthcare professionals and individuals with diabetes to make more informed decisions. The collaboration is expected to quantify potential long-term benefits of the CBGM technology, as stated by Glucotrack’s President and CEO, Paul V. Goode, PhD.
According to Steven Pusterla, Chief Commercial Officer of OneTwo Analytics, this partnership signifies a step forward in using data and technology to enhance diabetes management. The combined efforts are anticipated to create a comprehensive ecosystem that includes blood glucose insights, risk stratification, patient engagement tools, and clinical dashboards.
Glucotrack is focused on the development of a long-term implantable continuous blood glucose monitoring system for people living with diabetes. OneTwo Analytics specializes in AI-driven healthcare solutions, including the development of advanced diabetes technology stacks and data-driven tools for disease management.
The information in this article is based on a press release statement and does not include any promotional content or endorsement of claims. The partnership reflects the ongoing efforts to leverage technology in the management of diabetes, aiming to improve care and outcomes for those affected by the condition. Investors should note that Glucotrack is scheduled to report its next earnings on April 7, 2025. For comprehensive financial analysis and additional insights, including 12 more exclusive ProTips about GCTK, visit InvestingPro.
In other recent news, Glucotrack, Inc. announced the completion of several transactions involving the conversion of approximately $4.09 million of debt into equity, alongside a public offering. The company also set the terms for a $3 million public stock offering, pricing it at $1.15 per share, with Dawson James Securities, Inc. serving as the sole placement agent. Additionally, Glucotrack reported the successful completion of its first human clinical study for a new continuous glucose monitoring system, meeting its primary endpoint without serious adverse events. The company also implemented a 1-for-20 reverse stock split to comply with Nasdaq’s minimum bid price requirement, reducing the number of outstanding shares to around 7.8 million. In a strategic move, Glucotrack appointed Ted Williams as Vice President of Regulatory Affairs to advance its continuous blood glucose monitoring system through the regulatory process. These developments reflect Glucotrack’s ongoing efforts to manage its capital structure and advance its diabetes care technology.
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