GlucoTrack Announces Shareholder Update
Portfolio Pulse from Benzinga Newsdesk
Glucotrack, Inc. (NASDAQ:GCTK) has announced a strategic shift from non-invasive point-in-time glucose monitoring to continuous glucose monitoring (CGM) technology. The company's CEO, Paul V. Goode, PhD, provided a shareholder update letter highlighting the change due to new clinical guidelines and market trends favoring CGM over traditional blood glucose monitoring (BGM). The company has made progress in developing an implantable CGM with a two-year sensor life and is preparing for long-term preclinical studies. Glucotrack is also exploring acquisitions and strategic collaborations to expand its portfolio.
November 13, 2023 | 2:12 pm
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Glucotrack's strategic shift to CGM technology and progress on its implantable CGM development could position the company favorably in the diabetes market. The update indicates a positive outlook for the company's long-term growth and sustainability.
The shift to CGM technology is in response to market demand and new clinical guidelines, which could lead to increased adoption and sales. The development of an implantable CGM with a two-year sensor life is a significant advancement that could differentiate Glucotrack from competitors and attract investor interest. The company's focus on regulatory approval and commercialization of this technology, along with potential strategic collaborations, could positively impact its stock price in the short term.
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