GlucoTrack (GCTK) Registration Filing summary

Company overview and business model

• Focuses on developing an implantable continuous glucose monitor (CGM) for Type 1 and insulin-dependent Type 2 diabetes patients, aiming for improved accuracy, convenience, and longevity over existing solutions.

• Previously developed a noninvasive glucose monitoring device, but shifted focus to implantable CGM after market trends favored continuous monitoring.

• Recent preclinical studies demonstrated feasibility and safety of glucose monitoring in the epidural space, with no adverse effects observed in animal models.

• Regulatory submission for a first-in-human study has been made, with initiation expected in Q3 2024.

Financial performance and metrics

• Reported net loss of $7.1 million for the year ended December 31, 2023, and $2.9 million for the quarter ended March 31, 2024, after adjusting for a 1-for-5 reverse stock split.

• As of September 30, 2024, aggregate market value of outstanding common stock held by non-affiliates was approximately $11.3 million.

• Reverse stock split reduced outstanding shares from 27.4 million to approximately 5.5 million.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used for general corporate purposes, including R&D, clinical development, debt repayment, working capital, and potential acquisitions.

• Management retains broad discretion over allocation of proceeds, with specifics to be detailed in future prospectus supplements.