Electrocore Stock Price, News & Analysis

On May 24, 2022, electroCore (Nasdaq: ECOR) announced that its gammaCore Sapphire™ non-invasive vagus nerve stimulator (nVNS) will be available at over 130 National Spine and Pain Centers (NSPC) locations across the U.S. This partnership aims to enhance patient access to non-opioid pain management solutions for primary headaches. Mitch DeShon from electroCore emphasized the importance of collaboration with NSPC to improve treatment outcomes, while NSPC's mission focuses on alleviating unnecessary pain through innovative therapies. GammaCore is FDA cleared and CE-marked for various headache treatments.

electroCore, Inc. (Nasdaq: ECOR) announced that CEO Dan Goldberger will present at two upcoming conferences. The H.C. Wainwright Global Investment Conference is scheduled for May 24, 2022, at 7:00 AM EDT, with a webcast available. The LD Micro Invitational Conference will take place on June 7, 2022, at 10:30 AM PDT, also offering a livestream. After the events, presentation replays will be accessible on the company’s investor website. electroCore focuses on non-invasive vagus nerve stimulation therapies for neurological conditions.

electroCore (Nasdaq: ECOR) reported first-quarter 2022 net sales of $1.9 million, marking a 58% increase over the same period in 2021 and a 27% increase sequentially. The company used $4.8 million in operating cash, ending the quarter with $29.9 million in cash and equivalents. Notable developments include the launch of a U.S. e-commerce portal for gammaCore™ therapy, receiving FDA Breakthrough Device Designation for PTSD treatment, and signing an exclusive licensing agreement with Teijin for Japan.

electroCore, Inc. (Nasdaq: ECOR) will report its first quarter financial results on May 5, 2022, after market close. A conference call and webcast are scheduled for 4:30 PM EDT to discuss these results. The company specializes in bioelectronic medicine, focusing on non-invasive vagus nerve stimulation therapies for conditions like migraines and cluster headaches.

electroCore, Inc. (Nasdaq: ECOR) has announced the successful completion of the sale of its tax benefits through the New Jersey Economic Development Authority’s program for fiscal year 2021. The company received approximately $445,000 in non-dilutive cash from selling its net operating loss (NOL) tax benefits. This marks the third consecutive year of benefiting from this program, which supports investment in sales and marketing to enhance awareness of its product gammaCore. The NOL program aids eligible NJ-based tech companies by converting tax losses into cash for operational funding.

electroCore, Inc. (Nasdaq: ECOR) announced the publication of the SAVIOR-1 trial results in Frontiers in Neurology, evaluating non-invasive vagus nerve stimulation (nVNS) therapy in COVID-19 patients. Conducted from April 2020 to February 2021, the trial involved 110 patients and highlighted significant decreases in inflammatory biomarkers, such as C-reactive protein (CRP) and procalcitonin, in the nVNS group. With no major adverse events reported, the findings suggest nVNS may improve COVID-19 symptoms alongside standard care, potentially validating the technology's relevance.

On April 19, 2022, electroCore (Nasdaq: ECOR) announced that its gammaCore™ nVNS device has been selected for further study under the US Department of Defense's BOOST program. This program aims to assess nVNS's effectiveness in enhancing training for intelligence, surveillance, and reconnaissance. Early findings indicate gammaCore nVNS improved training speed by 20% and memory retention by 35%. The project, funded by the Department of Defense and DARPA, will run until September 2023, with potential deployment of devices to the USAF in the latter half of 2023.

electroCore reported strong first quarter 2022 results with $1.9 million in product sales, up 60% year-over-year and 27% sequentially. The revenue from government channels reached $1.26 million, demonstrating 47% growth from Q4 2021, while commercial channels generated $300,000, up 11% from Q4 2021. However, international sales fell by 20% compared to Q1 2021 due to COVID impacts. The company ended the quarter with a cash balance of $29.9 million, down from $34.7 million at year-end 2021.

electroCore has entered an exclusive licensing agreement with Teijin Limited to commercialize its non-invasive vagus nerve stimulation (nVNS) technology in Japan for treating primary headache disorders. The deal includes a non-refundable upfront payment, milestone payments upon product commercialization, and an annual license fee starting after the first anniversary. Teijin will cover regulatory costs and can negotiate additional licenses for other indications. This collaboration aims to improve healthcare for headache sufferers and supports electroCore's global expansion efforts.