Investors welcomed a 13% surge in GlucoTrack’s (NASDAQ:GCTK) stock price during Tuesday’s afternoon trading, following an optimistic update from the medical device maker. The company announced the successful completion of an initial preclinical study for its implantable continuous glucose monitor.
GlucoTrack stated that the study, while not intended for accuracy testing, revealed the sensor’s mean absolute relative difference to be 8.1% at Day 30 and 4.5% at Day 60. Moreover, no significant adverse events were reported.
The company also confirmed the commencement of long-term preclinical testing of the product. With plans to initiate first-in-human studies later this year, GlucoTrack is poised to move ahead with this groundbreaking technology.