GlucoTrack Reports Increased Net Loss and Advances Product Development in Latest 10-Q Filing

GlucoTrack, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2025. The company recorded a net loss of $11.6 million for the six-month period, an increase from a loss of $7.4 million during the same period in 2024. Operating expenses rose to $8.3 million, compared to $7.4 million in the prior year, primarily driven by increased general and administrative costs, which surged to $3 million from $1.5 million. Research and development expenses slightly decreased to $5 million from $5.7 million, reflecting a reduction in product and manufacturing costs associated with the development of its continuous blood glucose monitor (CBGM).

In terms of liquidity, GlucoTrack's cash and cash equivalents increased to $9.6 million as of June 30, 2025, up from $5.6 million at the end of 2024. This increase was largely due to net proceeds of $10.6 million raised through various equity offerings, including a registered direct offering and an at-the-market sales agreement. However, the company reported an accumulated deficit of $144 million, raising concerns about its ability to sustain operations without additional financing. Management indicated that it may require approximately $15 million to fund operations over the next twelve months.

Strategically, GlucoTrack has made notable advancements in its product development. The company completed a first-in-human clinical study for its CBGM, which met all primary and secondary endpoints with no serious adverse events reported. The results were presented at the 2025 American Diabetes Association annual conference, highlighting the device's accuracy and safety. Following this, GlucoTrack is preparing for a long-term clinical study outside the U.S. and has initiated discussions with the FDA regarding a pre-investigational device exemption submission, expected to be filed in the fourth quarter of 2025.

Operationally, GlucoTrack has undergone significant changes, including a reverse stock split and an increase in authorized shares to support its capital structure. The company executed a 1-for-20 reverse stock split in February 2025 and a subsequent 1-for-60 split in June 2025. As of June 30, 2025, the company had 899,410 shares outstanding, a substantial increase from 13,409 shares at the end of 2024. The company also appointed Peter C. Wulff as Chief Financial Officer in January 2025, following the resignation of the previous CFO.

Looking ahead, GlucoTrack's management expressed optimism about the potential of its CBGM technology, which aims to provide a long-term, implantable solution for continuous glucose monitoring. However, the company acknowledged the need for ongoing capital to support its clinical trials and product development efforts. The ability to secure additional financing remains critical to its operational goals and overall business viability.