Electrocore Stock Price, News & Analysis

electroCore, Inc. (Nasdaq: ECOR) announced a $6.0 million grant from the National Institute on Drug Abuse for a pivotal clinical trial of its gammaCore nVNS device to treat opioid use disorder (OUD). The trial, to be conducted at Emory University and Georgia Institute of Technology, will enroll approximately 100 patients and evaluate the efficacy of gammaCore in reducing opioid withdrawal symptoms. Dr. Douglas Bremner noted the significance of this research as there are limited effective treatments for OUD. Peter Staats, CMO of electroCore, emphasized the potential of gammaCore to alleviate withdrawal pain and reduce healthcare costs. The study follows promising pilot data highlighting the device's ability to decrease both psychological and physiological withdrawal symptoms.

electroCore (Nasdaq: ECOR) has announced results from a clinical trial that highlights the efficacy of its gammaCore non-invasive vagus nerve stimulation (nVNS) in enhancing second language learning. Conducted at the Defense Language Institute (DLI) and supported by DARPA, the study involved 36 participants learning Arabic. Results showed that those using gammaCore exhibited significantly improved language recall compared to a sham group (p=0.025). Additionally, participants reported enhanced energy (p=0.036) and focus (p=0.001) throughout the training. The trial's findings suggest potential applications for military training and cognitive performance improvement. The study represents a critical advancement for electroCore's nVNS technology, which aims to promote overall wellbeing.

electroCore, Inc. (Nasdaq: ECOR), a bioelectronic medicine company, will announce its financial results for Q1 2023 on May 3, 2023, after market close. A conference call will be held at 4:30 PM EDT to discuss results and answer questions. The company focuses on non-invasive vagus nerve stimulation (nVNS) technology for managing medical conditions and enhancing wellbeing. electroCore aims to commercialize medical devices and consumer products in the U.S. and selected international markets.

electroCore, a bioelectronic medicine company, anticipates reporting a record revenue of approximately $2.8 million for the first quarter of 2023, representing a 46% increase from $1.9 million in Q1 2022. Revenue from the government channel is projected at $1.8 million, a growth of 42% year-over-year, with purchases from 124 military treatment facilities. Commercial revenue is expected to reach $581,000, a 74% rise, including $147,000 from Truvaga sales. The company also predicts $406,000 from international business, up 33% compared to last year. For the full year 2023, electroCore reaffirms its revenue guidance of $14.0-$15.0 million, with legacy headache channels expected to grow over 50%. A detailed update is planned for the May earnings call.

electroCore Announces Granting of Three New U.S. Patents

On April 11, 2023, electroCore (Nasdaq: ECOR) was issued three new patents by the United States Patent and Trademark Office (USPTO). These patents pertain to the company's non-invasive vagus nerve stimulation (nVNS) technology. The patents include:

• US Patent Nos. 11,623,079 and 11,623,080 focus on methods for treating addiction and other medical conditions by influencing dopamine release.
• US Patent No. 11,623,078 covers methods for modulating the vagus nerve through transcutaneous electrical impulses.

The CEO, Dan Goldberger, emphasized the company’s commitment to expanding its intellectual property portfolio, which now exceeds 200 patents. The aim is to explore nVNS applications beyond its FDA-cleared use for primary headaches.

electroCore (NASDAQ: ECOR) announced that Teijin Limited has paid the annual fee under their license agreement for the non-invasive vagus nerve stimulation (nVNS) technology, extending Teijin's exclusive rights for another year in Japan. This agreement includes a non-refundable upfront payment and milestone payments contingent upon the commercialization decisions made by Teijin. The partnership facilitates the regulatory approval process with Teijin responsible for associated costs. Chief Strategy Officer Joshua Lev expressed confidence in the collaboration, emphasizing the commitment to improve health for headache sufferers globally.

electroCore, a commercial-stage bioelectronic medicine company, announced on April 6, 2023, that it received a license to import, distribute, and market its gammaCore Sapphire™ device in Indonesia. This is part of a broader strategy to expand its global presence, which includes earlier license approvals in Malaysia and South Africa. Iain Strickland, SVP of Global Sales and Strategy at electroCore, stated that these approvals not only validate their clinical evidence but also enhance geographical access for patients. The new registrations cover regions with a combined population of 367 million, presenting significant market opportunities and establishing new clinician networks in these territories.