electroCore Regains Compliance with Nasdaq Listing Requirements

Rhea-AI Summary

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.

Positive

• Regained compliance with Nasdaq minimum bid price requirement.
• Common stock will continue to be listed on the Nasdaq Capital Market.

Negative

• None.

ROCKAWAY, N.J., March 07, 2023 (GLOBE NEWSWIRE) -- electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine and wellness company, today announced that it has received notice from the Listing Qualifications Department of the Nasdaq Stock Market LLC (Nasdaq) by letter dated March 6, 2023 informing electroCore that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). The closing bid price of the Company’s common stock on the Nasdaq Capital Market was greater than $1.00 per share for 10 consecutive trading days between February 15, 2023 and March 1, 2023. As a result of regaining compliance, the Company’s common stock will continue to be listed on the Nasdaq Capital Market.

About electroCore, Inc.
electroCore, Inc. is a commercial stage bioelectronic medicine and wellness company dedicated to improving health through its non-invasive vagus nerve stimulation (“nVNS”) technology platform. Our focus is the commercialization of medical devices for the management and treatment of certain medical conditions and consumer product offerings utilizing nVNS to promote general wellbeing and human performance in the United States and select overseas markets.

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 electroCore’s business prospects and clinical and product development plans; its pipeline or potential markets for its technologies; the timing, outcome and impact of regulatory, clinical and commercial developments; business prospects around its wellness and human performance offerings and other new products and markets, its listing on the Nasdaq Capital Market, and other statements that are not historical in nature, particularly those that utilize terminology such as "anticipates," "will," "expects," "believes," "intends," 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, the ability to raise the additional funding needed to continue to pursue electroCore’s business and product development plans, the inherent uncertainties associated with developing new products or technologies, the ability to commercialize gammaCore™, TAC-STIM™, and Truvaga™, the potential impact and effects of COVID-19 on the business of electroCore, electroCore’s results of operations and financial performance, inflation and currency fluctuations, and any measures electroCore has and may take in response to COVID-19 and any expectations electroCore may have with respect thereto, 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. 

Investors:
Rich Cockrell
CG Capital
404-736-3838
ecor@cg.capital

FAQ

What is electroCore's recent announcement regarding Nasdaq compliance?

electroCore announced that it has regained compliance with Nasdaq's minimum bid price requirement.

What was electroCore's closing bid price that ensured compliance?

The closing bid price was greater than $1.00 per share for 10 consecutive trading days.

When did electroCore achieve compliance with Nasdaq requirements?

electroCore achieved compliance between February 15, 2023, and March 1, 2023.

What technology does electroCore utilize in its products?

electroCore utilizes non-invasive vagus nerve stimulation (nVNS) technology in its products.