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electroCore Announces First Patient Enrollment in Investigator-Led Study of gammaCore™ nVNS for PTSD

(Positive)
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electroCore (Nasdaq: ECOR) announced enrollment of the first eight patients in an investigator-led study evaluating gammaCore non-invasive vagus nerve stimulation (nVNS) as an adjunctive treatment for PTSD.

The study will enroll up to 40 adults, assess outcomes over a 12-week treatment period, and run approximately 10 months. Primary endpoints are treatment-related serious adverse events and change in CAPS-5 total score at 12 weeks. electroCore is providing an educational grant and devices.

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Positive

  • First 8 patients enrolled in the PTSD nVNS study
  • Study size planned at up to 40 adult participants
  • Company support via educational grant and provision of gammaCore devices

Negative

  • Preliminary data only; study is intended to generate preliminary safety and effectiveness results
  • Results timeline extends roughly 10 months before study completion and readouts

News Market Reaction – ECOR

-4.69%
5 alerts
-4.69% Session close to close
-3.3% Trough in 2 hr 35 min
$51.73M Market Cap
0.8x Rel. Volume

In the Apr 7 session, ECOR declined 4.69%, reflecting a moderate negative market reaction. Argus tracked a trough of -3.3% from its starting point during tracking. Our momentum scanner triggered 5 alerts that day, indicating moderate trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement highlights initial enrollment in an investigator-led study of gammaCore™ nVNS for ...
Analysis

This announcement highlights initial enrollment in an investigator-led study of gammaCore™ nVNS for PTSD, with up to 40 adults treated over 12 weeks and outcomes tracked via CAPS-5, PCL-5, and CGI measures. It extends ECOR’s recent PTSD- and mTBI-focused nVNS narrative seen in prior publications. Investors may monitor study completion over roughly 10 months, alongside the company’s continuing losses, capital needs, and reliance on major government customers noted in recent SEC filings.

Key Figures

Patients enrolled: 8 patients Planned enrollment: Up to 40 adults Treatment duration: 12 weeks +5 more
8 metrics
Patients enrolled 8 patients First cohort enrolled in investigator-led PTSD nVNS study
Planned enrollment Up to 40 adults Target sample size for PTSD nVNS clinical study
Treatment duration 12 weeks Period over which PTSD outcomes will be assessed
Primary efficacy endpoint CAPS-5 score change at 12 weeks Clinician-Administered PTSD Scale total score
Secondary endpoints PCL-5 and CGI changes PTSD Checklist and Clinical Global Impression ratings
Study duration Approximately 10 months Overall anticipated length of investigator-led PTSD study
Current price $7.04 Pre-news price, up 3.53% over prior 24 hours
52-week range $4.16–$8.64 Current price 18.52% below 52-week high, 69.23% above low

Historical Context

5 past events · Latest: Apr 01 (Positive)
Pattern 5 events
Date Event Sentiment 24h Move Catalyst
Apr 01 Clinical publication Positive +9.4% Post-hoc analysis showed nVNS benefit in mTBI patients with comorbid PTSD.
Mar 31 Management hires Positive +6.9% Executive appointments and RSU inducement grants under NASDAQ listing rules.
Mar 30 IP expansion Positive -3.8% Two new U.S. patents expanded nVNS coverage though shares fell post-announcement.
Mar 19 Full-year earnings Negative -4.7% Record 2025 sales but continued GAAP losses and CEO transition weighed on shares.
Mar 10 Conference participation Neutral -2.1% Roth Conference participation update coincided with a modest share price decline.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent ECOR news has often seen positive alignment on clinical, hiring, and earnings updates, but IP and conference-related items have drawn more muted or negative reactions.

Recent Company History

Over the past month, ECOR reported multiple developments supporting its nVNS platform. On Mar 19, full-year 2025 results showed record $32.0M net sales with ongoing losses and leadership changes. Subsequent news on Mar 30 expanded its patent estate beyond 160 U.S. patents, and late March brought executive hires and inducement grants. On Apr 1, ECOR highlighted positive post‑hoc data in mTBI with PTSD. Today’s PTSD-focused enrollment update extends this neuropsychiatric narrative.

Key Terms

non-invasive vagus nerve stimulation, ptsd, clinician-administered ptsd scale (caps-5), ptsd checklist (pcl-5), +3 more
7 terms
non-invasive vagus nerve stimulation medical
"gammaCore™ non-invasive vagus nerve stimulation (nVNS) device as an adjunctive..."
Non-invasive vagus nerve stimulation is a therapy that sends mild electrical pulses through the skin to the vagus nerve—often at the neck or ear—to influence brain and body activity without surgery or implanted devices. Investors care because clinical trial results, regulatory approvals, insurance coverage and patient adoption determine whether such handheld or wearable devices can become a widely used medical treatment, affecting potential sales, partnerships and company valuations.
ptsd medical
"as an adjunctive treatment for symptoms associated with PTSD."
PTSD, or post-traumatic stress disorder, is a mental health condition that can develop after experiencing or witnessing a traumatic event, leading to ongoing feelings of fear, anxiety, or distress. For investors, understanding PTSD is important because widespread psychological impacts can influence market behavior, cause sudden shifts in confidence, or affect economic stability during times of collective trauma or crisis.
clinician-administered ptsd scale (caps-5) medical
"change from baseline in the Clinician-Administered PTSD Scale (CAPS-5) total score..."
A clinician-administered PTSD scale (CAPS-5) is a standardized interview used by trained professionals to determine whether someone has post-traumatic stress disorder and to measure how severe their symptoms are. Think of it as a detailed scorecard used in clinical trials to show whether a treatment is actually helping patients; investors watch these results because they strongly influence regulatory approval, prescribing decisions, and a therapy’s commercial prospects.
ptsd checklist (pcl-5) medical
"Secondary endpoints include changes in PTSD Checklist (PCL-5) scores..."
A PTSD Checklist (PCL-5) is a standardized 20-question survey used by clinicians and researchers to measure the presence and severity of post-traumatic stress symptoms. Investors should care because it’s a common tool in clinical trials and clinical practice to show whether a therapy or intervention is working, inform regulatory decisions, and influence market demand for treatments—much like a thermometer provides a simple, comparable reading of a patient’s improvement.
clinical global impression (cgi) medical
"and Clinical Global Impression (CGI) ratings."
Clinical Global Impression (CGI) is a brief, standardized score clinicians use to rate a patient's overall illness severity and change over time during a medical trial, often on simple scales for ‘severity’ and ‘improvement.’ Investors watch CGI scores because they provide a quick, comparable snapshot of whether a drug appears to help patients in trials, similar to a simple progress report that can influence regulatory decisions, market expectations, and the perceived commercial potential of a therapy.
neuromodulation medical
"advancing research into non-invasive neuromodulation as a potential adjunctive..."
Neuromodulation is the use of devices or targeted treatments to change how nerves or brain circuits send signals, much like adjusting the volume or tuning on an audio system to alter what you hear. For investors, it matters because these therapies can treat chronic conditions (pain, movement disorders, depression) where existing medicines fall short, creating potential markets, regulatory milestones, and durable revenue streams if technologies prove safe and effective.
adjunctive treatment medical
"nVNS device as an adjunctive treatment for symptoms associated with PTSD."
An adjunctive treatment is a therapy given in addition to a primary treatment to improve overall effectiveness or manage side effects—think of it as a booster or supportive sidekick to the main medicine. For investors, adjunctive therapies matter because they can expand a product’s market use, create additional revenue streams, affect regulatory pathways and clinical trial design, and influence competitive positioning and pricing in a therapeutic area.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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ROCKAWAY, N.J., April 07, 2026 (GLOBE NEWSWIRE) -- electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine and wellness company, announced today the enrollment of the first eight patients in a clinical study being conducted by Acacia Clinics in collaboration with the Vagus Nerve Society.

As previously announced, the study is designed to evaluate the safety and effectiveness of electroCore’s gammaCore™ non-invasive vagus nerve stimulation (nVNS) device as an adjunctive treatment for symptoms associated with PTSD. The study is expected to enroll up to 40 adult participants and will assess outcomes over a 12-week treatment period.

The primary safety endpoint is the incidence of treatment-related serious adverse events, and the primary efficacy endpoint is the change from baseline in the Clinician-Administered PTSD Scale (CAPS-5) total score at 12 weeks. Secondary endpoints include changes in PTSD Checklist (PCL-5) scores and Clinical Global Impression (CGI) ratings.

“The enrollment of the first eight patients marks an important milestone in advancing research into non-invasive neuromodulation as a potential adjunctive treatment for PTSD,” said Dr. Peter Staats, Chief Medical Officer of electroCore and President of the Vagus Nerve Society. “We are encouraged by the growing interest in bioelectronic approaches that may offer patients additional therapeutic options beyond standard of care, particularly for PTSD, where effective treatment options remain limited.”

The study is led by Danielle DeSouza, MSc, PhD, Vice President of Research at Acacia Clinics, and Noah DeGaetano, MD. The study is sponsored by the Vagus Nerve Society, with electroCore providing an educational grant and gammaCore devices.

“We are pleased to initiate patient enrollment in this study evaluating nVNS in PTSD,” said Dr. DeSouza. “There remains a significant unmet need for effective adjunctive therapies, and this research will help further our understanding of the role vagus nerve stimulation may play in addressing both the neurological and physiological components of PTSD.”

The study is anticipated to run for approximately 10 months and is intended to generate preliminary safety and effectiveness data to inform future research in neuropsychiatric applications of nVNS.

About Acacia Clinics

Acacia Clinics is a recognized leader in precision neuromodulation and advanced mental health services, drawing on nearly a decade of experience in fMRI-guided TMS. Founded in 2018 by Dr. David Carreon and Dr. Nathan Meng, Acacia is led by an experienced executive team that also includes Mr. David Ling, Dr. Noah DeGaetano, and Dr. Danielle DeSouza. Acacia integrates patient-focused care, rigorous clinical research, and industry-leading partnerships to deliver exceptional, evidence-based treatment.

About electroCore, Inc.

electroCore, Inc. is a bioelectronic technology company whose mission is to improve health and quality of life through innovative non-invasive bioelectronic technologies. The Company’s two leading prescription products, gammaCore® non-invasive vagus nerve stimulation (nVNS) and Quell® neurostimulator, treat chronic pain syndromes through non-invasive neuromodulation technology. Additionally, the company commercializes its handheld, and personal use Truvaga™ and TAC-STIM™ nVNS products utilizing bioelectronic technologies to promote general wellness and human performance.

For more information, visit www.electrocore.com.

Forward-Looking Statements
This press release and other written and oral statements made by representatives of electroCore may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements about the anticipated results from the study using gammaCore nVNS for adjunctive treatment of symptoms associated with PTSD, the Company’s relationship with the Vagus Nerve Society and Acacia Clinics, the anticipated timeline and enrollment of the clinical study, the Company’s future business strategies, growth opportunities, prospects, product development, and market expansion, and other statements that are not historical in nature, particularly those that utilize terminology such as “anticipates,” “will,” “expects,” “believes,” “intends,” "may," "potential," and other words of similar meaning, derivations of such words and the use of future dates. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, inherent uncertainties associated with clinical studies, including the ability to enroll sufficient numbers of patients, the ability of the Company to develop and commercialize new products or technologies, its ability to obtain regulatory clearance or approval for new indications, electroCore’s results of operations and financial performance, inflation and currency fluctuations, and any expectations electroCore may have with respect thereto, as well as competition in the industry in which electroCore operates and overall economic and market conditions. Any forward-looking statements are made as of the date of this press release, and electroCore assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents electroCore files with the SEC available at www.sec.gov.

Contact:
ECOR Investor Relations
(973) 302-9253
investors@electrocore.com


FAQ

How many patients has electroCore (ECOR) enrolled in the PTSD nVNS study as of April 7, 2026?

electroCore has enrolled the first eight patients in the investigator-led PTSD nVNS study. According to electroCore, enrollment began with eight participants and the study is designed to ultimately enroll up to 40 adult participants over the recruitment period.

What is the design and duration of the ECOR-sponsored PTSD nVNS clinical study?

The study assesses nVNS over a 12-week treatment period with safety and efficacy endpoints. According to electroCore, the trial will follow participants for 12 weeks and the overall study is anticipated to run for approximately 10 months to generate preliminary data.

What are the primary endpoints in the gammaCore (ECOR) PTSD study?

Primary endpoints are incidence of treatment-related serious adverse events and change in CAPS-5 total score at 12 weeks. According to electroCore, CAPS-5 change is the primary efficacy measure and safety is tracked via serious adverse event incidence.

Who is conducting the PTSD nVNS study involving electroCore (ECOR) devices?

The study is led by Acacia Clinics investigators in collaboration with the Vagus Nerve Society. According to electroCore, the trial is led by Danielle DeSouza, MSc, PhD, and Noah DeGaetano, MD, with sponsorship from the Vagus Nerve Society and device support from electroCore.

When can investors expect preliminary results from the electroCore (ECOR) PTSD study?

Preliminary safety and effectiveness data are expected after the study runs its planned timeline of about 10 months. According to electroCore, the study is anticipated to run approximately 10 months and is intended to generate initial data to inform future research.