Glucotrack announces 1:60 reverse stock split

Glucotrack, Inc. (NASDAQ:GCTK), a Delaware corporation, announced the completion of a 1-for-60 reverse stock split of its common stock. The action took effect at 4:30 p.m. on Friday, June 13, 2025, following approval by the company’s stockholders at the annual meeting on May 22, 2025. The announcement comes as the company’s stock has experienced significant pressure, with InvestingPro data showing a 37% decline in the past week and a 98% drop over the past six months.

The reverse stock split reduced the number of outstanding shares of common stock from approximately 34.05 million to about 567,456 shares. All fractional shares were rounded up to the nearest whole share. The proportional adjustments also apply to the company’s outstanding stock options and warrants, including adjustments to their exercise prices. With a current market capitalization of $2.53 million, InvestingPro analysis indicates the company maintains a healthy current ratio of 4.85, suggesting strong short-term liquidity.

The company’s common stock began trading on a split-adjusted basis on Monday, June 16, 2025, retaining the ticker symbol "GCTK." The new CUSIP number post-split is 45824Q804. VStock Transfer, LLC serves as the exchange agent for the reverse stock split. Technical indicators from InvestingPro show the stock’s RSI is currently in oversold territory, with 13 additional real-time technical insights available to subscribers.

This corporate action has adjusted the net loss per common share and the weighted average common shares outstanding for the years ended December 31, 2024 and 2023, as well as for the three months ended March 31, 2025 and 2024. The pre-split amounts represent those reported in the company’s Form 10-K filed on March 31, 2025, and Form 10-Q filed on May 14, 2025. The post-split amounts reflect the effects of the reverse stock split.

The reverse stock split is expected to enhance the marketability and liquidity of the company’s common stock. The company’s transfer agent is corresponding with stockholders of record regarding the reverse stock split, while stockholders owning shares via a broker or other nominee will have their positions automatically adjusted. Recent financial data shows the company holds more cash than debt on its balance sheet, though it faces challenges with a negative EBITDA of $15.05 million in the last twelve months.

The information is based on a press release statement.

In other recent news, Glucotrack, Inc. has announced a 1-for-60 reverse stock split, effective June 16, 2025, in an effort to meet Nasdaq’s $1.00 minimum bid price requirement and potentially attract institutional investors. This move will reduce the company’s outstanding common stock from approximately 32.5 million shares to about 542,356 shares. In another development, Glucotrack has elected Dr. Victoria E. Carr-Brendel to its Board of Directors, bringing her extensive experience in medical devices and implantable technologies to the company. Additionally, Glucotrack is facing a potential delisting from the Nasdaq Stock Market due to non-compliance with the minimum bid price requirement, although the company plans to request a hearing to temporarily stay the delisting process. Meanwhile, Glucotrack has partnered with OneTwo Analytics to enhance the evaluation of its Continuous Blood Glucose Monitor clinical study data using AI and machine learning analytics. This collaboration aims to improve diabetes management by providing clear insights and empowering healthcare professionals and individuals with diabetes to make informed decisions. These recent developments highlight Glucotrack’s ongoing efforts to navigate regulatory challenges and advance its diabetes care technologies.

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