Glucotrack Inc. (NASDAQ:GCTK) shares are trending on Tuesday night.
Shares of the New Jersey-based medical technology company jumped 69.27% to $0.90.
Volume for the day rose to 39.55 million shares, approximately 32.7 times the stock’s average daily volume of 1.21 million shares, indicating significantly elevated trading activity.
The stock move followed Glucotrack’s last week announcement that the U.S. Patent and Trademark Office issued a Notice of Allowance for a patent titled “Methods and Systems for Continuously Monitoring the Glucose Level of a Patient.” The allowance expands intellectual property protection around the company’s continuous blood glucose monitoring (CBGM) platform.
Sensor Architecture Gains Fresh Protection
According to the company, the allowed claims cover implantable glucose monitoring systems that use an intravascular sensing lead connected to an electronics assembly. These systems are designed to operate inside the blood vessels for long-term glucose monitoring.
Paul V. Goode, President and CEO of Glucotrack, said, “This allowed application strengthens the protection around key elements of our CBGM, including novel sensor architectures designed to support long-term intravascular glucose monitoring.”
Goode added that continuing to expand the company’s intellectual property is a key part of its strategy as it moves the fully implantable system through clinical testing and toward commercialization.
Glucotrack’s CBGM is a long-term implantable system that does not require any wearable device. It is designed to provide continuous and accurate blood glucose monitoring for up to three years. Unlike traditional continuous glucose monitors that measure glucose in interstitial fluid, Glucotrack’s system measures glucose directly from the blood. Its goal is to deliver real-time readings without the delay that is common with interstitial glucose measurements.
Trading Metrics, Technical Analysis
GlucoTrack has a market capitalization of $3.34 million, with a 52-week high of $14.14 and a 52-week low of $0.29.
The Relative Strength Index (RSI) of GCTK stands at 63.12, while short interest is at 8.17%.
Over the past 12 months, the stock has dropped 90.64%.
GCTK is currently trading near its 52-week low.
Price Action: The stock closed 14.13% higher on Tuesday at $0.53, according to Benzinga Pro data.
Benzinga’s Edge Stock Rankings indicate that GCTK has a negative price trend across all time frames.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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