Glucotrack, Inc. (NASDAQ:GCTK) shares are trending on Wednesday night.

Shares of the New Jersey-based medical device and biotechnology company surged 80.30% to $3.66 in after-hours trading on Wednesday following the announcement that its subsidiary, Lokahi Therapeutics, signed its first external, fee-for-service partnership.

Nonprofit Taps AI Platform

Innovate GBM, a nonprofit dedicated to glioblastoma research, engaged two of Lokahi’s ai PIPELINE project teams to identify brain tumor therapeutic assets available for licensing and development. According to the announcement, the deal makes Innovate GBM the first outside organization to tap Lokahi’s proprietary asset-identification process, built on 14 university collaborations.

Kush Thukral, co-executive director of Innovate GBM, said, “Glioblastoma remains one of the hardest problems in oncology, and too many promising programs have been shelved before they ever reached brain tumor patients. Lōkahi’s ai² PIPELINE gives us a disciplined, capital-efficient way to search systematically for overlooked brain tumor assets.”

Erik Emerson, chief executive officer of Glucotrack, said, “This is where the concept begins to scale. We are creating a disciplined way to bring more minds, more perspectives, and more structured evaluation to the search for differentiated therapeutic opportunities.”

Innovate GBM will independently decide whether to pursue any assets identified.

Trading Metrics, Technical Analysis

Glucotrack has a market capitalization of $1.62 million, a 52-week high of $135.75 and a 52-week low of $2.

The Relative Strength Index (RSI) of GCTK stands at 29.96.

The stock experienced an elevated trading session on the day, with volume reaching 27.58 million shares compared with its average volume of 1.34 million.

The small-cap biotech stock has fallen 97.64% over the past 12 months.

Price Action: GCTK closed the regular session on Wednesday at $2.03, down 8.56%, according to Benzinga Pro data.

Benzinga’s Edge Stock Rankings indicate that Glucotrack stock has a negative price trend across all time frames.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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