Overview

• US medical device maker's Q1 net loss narrowed yr/yr, driven by reduced derivative liabilities

• Company submitted IDE application to FDA, targeting U.S. clinical trial launch in 2H 2026

• Debt reduced and cash position strengthened via note conversion and credit facility draw

Outlook

• GlucoTrack targets U.S. clinical trial launch for CBGM in 2H 2026

• Company plans to present clinical data at industry conferences as available

• GlucoTrack expects cash runway into early Q3 2026, supporting trial initiation

Result Drivers

• R&D SPENDING - Higher research and development expenses were attributed to timing in product and manufacturing development activities

• ADMINISTRATIVE COSTS - General and administrative expenses rose due to increased professional fees and personnel costs

• DERIVATIVE LIABILITIES - Net loss narrowed mainly due to a reduction in non-cash change in derivative liabilities

Company press release: ID:nGNX39QtgS

Key Details

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