Welcome to our dedicated page for Electrocore news (Ticker: ECOR), a resource for investors and traders seeking the latest updates and insights on Electrocore stock.
electroCore, Inc. reports developments in bioelectronic medicine and wellness products built around non-invasive vagus nerve stimulation, or nVNS. Company news commonly covers prescription gammaCore for migraine, Quell Fibromyalgia, Truvaga and Truvaga Plus consumer wellness products, and TAC-STIM for human performance.
Recurring updates include financial results, U.S. prescription sales activity, direct-to-consumer wellness sales, product-line commercialization, clinical research involving gammaCore nVNS, and participation in healthcare and investor conferences. News also highlights applications of vagus nerve stimulation across prescription medical uses and consumer wellness settings.
electroCore, Inc. (NASDAQ: ECOR) announced the positive results of a focus group study conducted on its Truvaga product. The study involved 34 participants who used Truvaga for 30 days. Findings revealed significant improvements in mental well-being, with 94% feeling calmer, 91% reporting improved mood, and 88% experiencing reduced anxiety. Moreover, 86% of participants expressed intent to continue using Truvaga for ongoing wellness benefits. The company is optimistic about launching Truvaga via e-commerce and affiliate channels in 2023, emphasizing its potential in enhancing health through vagus nerve stimulation.
electroCore, Inc. (Nasdaq: ECOR) announced on March 14, 2023, that it has no direct exposure to Silicon Valley Bank, Silvergate Bank, or Signature Bank. The company does not hold cash deposits or securities with these banks, maintaining corporate cash accounts with large global money center banks instead. electroCore specializes in developing non-invasive vagus nerve stimulation (nVNS) technology aimed at improving health and wellness through medical devices and consumer products. The press release also includes forward-looking statements regarding the company’s business prospects, product development, and potential markets for its technologies.
electroCore, Inc. (Nasdaq: ECOR) announced a study demonstrating that non-invasive vagus nerve stimulation (nVNS) can enhance second language learning. The study, conducted at the Defense Language Institute, will be presented at the 2023 American Academy of Neurology Annual Scientific Meeting on April 23, 2023, in Boston. The poster details the ability of nVNS to accelerate vocabulary acquisition while also reducing fatigue and boosting focus. This development could broaden the commercial applications of electroCore's nVNS technology in educational settings and wellness markets, aligning with the company’s goal to leverage its platform for diverse health improvements.
electroCore, a bioelectronic medicine company, announced participation in the 35th Annual Roth Conference in Dana Point, California from March 12-14, 2023. Chief Strategy Officer, Joshua Lev, will engage in a fireside chat on March 14, 2023, at 1:00 PM PT. The company will hold one-on-one meetings during the event, aimed at expanding its audience and discussing its non-invasive vagus nerve stimulation technology. This strategy is part of electroCore's commitment to enhancing health solutions through innovative nVNS technology for health management and general well-being. Interested parties can schedule meetings via the conference page or contact Investor Relations.
electroCore, Inc. (Nasdaq: ECOR) reported record full-year 2022 net sales of $8.6 million, a 58% increase from $5.5 million in 2021. Fourth-quarter sales reached $2.6 million, up 72% year-over-year. The company launched two new products: TAC-STIM™ and Truvaga™. Gross profit for 2022 was $7.0 million, with a gross margin of 81%. However, operating expenses rose to $29.9 million, leading to a GAAP net loss of $22.2 million. For 2023, the company anticipates net revenue between $14.0 - $15.0 million, projecting growth in legacy headache channels and new product revenues.
electroCore, Inc. (Nasdaq: ECOR) announced it has regained compliance with the Nasdaq minimum bid price requirement, as the closing bid price exceeded $1.00 per share for 10 consecutive trading days from February 15 to March 1, 2023. This compliance allows the Company to maintain its listing on the Nasdaq Capital Market. electroCore is focused on commercializing medical devices using its non-invasive vagus nerve stimulation technology to treat various medical conditions and promote general wellbeing.
electroCore, Inc. (Nasdaq: ECOR) announced its financial results for the fourth quarter and full year ended December 31, 2022, will be released after the market close on March 8, 2023. The company specializes in bioelectronic medicine, focusing on non-invasive vagus nerve stimulation (nVNS) technology for managing medical conditions and enhancing wellness. A conference call and webcast will be held at 4:30 PM EST on the same day to discuss the results and field questions. Investors and stakeholders can participate via domestic and international phone numbers provided, or through a webcast link.
electroCore, Inc. (NASDAQ: ECOR) has secured an agreement with Byond Healthcare Pty Ltd. to distribute its gammaCore Sapphire™ non-invasive vagus nerve stimulator in South Africa and Namibia. This partnership aims to enhance access to innovative pain management solutions amid the opioid crisis. The gammaCore device is FDA-cleared and CE-marked for treating various headache-related conditions and can be self-administered by patients. The three-year exclusive distribution agreement requires regulatory clearances before sales commence.
On February 16, 2023, electroCore, Inc. (Nasdaq: ECOR) announced the issuance of two new patents by the USPTO and the upcoming issuance of a third patent related to its non-invasive vagus nerve stimulation (nVNS) technology. The patents cover:
- U.S. Patent No. 11,534,600 for treating behavioral disorders including ADHD and autism.
- U.S. Patent No. 11,581,090 regarding medical device usage limits.
- U.S. Patent No. 11,590,341 aimed at post-operative symptom treatment.
CEO Dan Goldberger expressed enthusiasm about expanding their intellectual property and exploring new treatment potentials. The company is focused on the commercialization of nVNS technology for various medical conditions.
electroCore, Inc. (Nasdaq: ECOR) announced the completion of a sale of approximately $211,000 in non-dilutive cash through New Jersey's Technology Business Tax Certificate Transfer program. This program allows qualifying New Jersey-based technology companies to sell net operating loss tax benefits, enabling them to convert tax losses into cash for business growth. Over the past three years, electroCore has received about $2.7 million from this program. CFO Brian Posner emphasized the importance of this funding in supporting their investment in the company's growth and ongoing operations.