electroCore, Inc. - ECOR STOCK NEWS

electroCore, a bioelectronic medicine company, has launched an e-commerce shop in the UK for its gammaCore Sapphire™ device, designed to treat menstrual migraines. The online platform allows patients to complete a healthcare questionnaire, receive product delivery, and receive training via video calls. Karly Hoggard, Director of Global Commercial Development, emphasized the importance of accessibility for women suffering from migraines, noting that 60% of them experience menstrual-related symptoms. The gammaCore device is FDA cleared and CE-marked for various headache treatments.

electroCore, a commercial-stage bioelectronic medicine company, provided an update on its clinical research using gammaCore (nVNS) to treat Post Traumatic Stress Disorder (PTSD). A recent study demonstrated a 31% reduction in PTSD symptoms among 20 patients after three months of treatment with nVNS compared to a sham device. The company is currently conducting two randomized, sham-controlled clinical trials to further evaluate the efficacy of nVNS in treating PTSD. CEO Dan Goldberger highlighted gammaCore's potential as a safe and effective treatment, with regulatory updates expected in 2022.

electroCore (NASDAQ: ECOR) announced the issuance of U.S. Patent No. 11,191,953 by the USPTO, focused on treating symptoms of stroke and transient ischemic attack (TIA) through non-invasive electrical stimulation. This patent bolsters research in stroke treatment, a leading cause of death and disability globally. Earlier this year, the TR-VENUS study reported full enrollment for investigating non-invasive vagus nerve stimulation (nVNS) for acute stroke treatment. The patent aims to enhance the application of electroCore’s technology to mitigate stroke impacts, with ongoing trials expected to shed light on its efficacy.

electroCore, a bioelectronic medicine company (NASDAQ: ECOR), will host virtual one-on-one meetings at the Canaccord Genuity MedTech & Diagnostics Forum on November 18, 2021. The management team aims to discuss its non-invasive vagus nerve stimulation therapy platform designed for treating migraines and cluster headaches, including acute and preventive treatments. Stakeholders interested in a meeting should contact their Canaccord Genuity representative to arrange the details. For more information, visit www.electrocore.com.

electroCore reported third quarter 2021 revenue of $1.5 million, a significant increase of 17% sequentially and 38% year-over-year. The gross margin expanded to 76%, and cash reserves reached approximately $39.0 million. Despite a GAAP net loss of $4.0 million, the company announced reduced operating expenses and a confidence in growth prospects despite pandemic impacts on its markets. The company raised about $18.8 million through a public offering, ensuring sufficient funds for planned operations over the next year.

electroCore, Inc. (NASDAQ: ECOR) will report its financial results for Q3 2021 on November 4, 2021, following the market close. A conference call will be held at 4:30 PM ET to discuss the results. The company focuses on non-invasive vagus nerve stimulation therapies aimed at treating various neurological conditions including migraines and cluster headaches. With a commercial-stage product line, electroCore aims to improve patient outcomes.

On October 20, 2021, electroCore, Inc. (Nasdaq: ECOR) announced a peer-reviewed study in the British Journal of Healthcare Management evaluating prescribing trends for gammaCore in treating cluster headaches in England from April 2019 to 2020. The study involved 655 patients, revealing that 46.3% continued treatment with at least one refill and 30.9% required two or more refills. This suggests a durable benefit of gammaCore's non-invasive vagus nerve stimulation (nVNS) therapy. The NHS’s reimbursement program and favorable cost-saving implications were also highlighted.

electroCore has received an amended Medical Device License from Health Canada for gammaCore nVNS to treat migraine in adolescents aged 12-17. This expansion allows for both acute and preventive treatment of migraine, providing a non-drug option in a field with limited treatments for young patients. The decision is based on positive data, including a study showing 46.8% attack resolution without additional medication. The device is now available in Canada through RSK Medical Inc., enhancing options for managing primary headache disorders.

electroCore, Inc. (Nasdaq: ECOR) anticipates approximately $1.5 million in revenue for Q3 2021, reflecting a 15% increase from the previous quarter and 36% growth year-over-year. The company reported net cash used for operations was around $3.5 million, with cash reserves reaching $39 million by September 30. Revenue from government channels was approximately $946,000, up from $779,000 in Q2 2021. International sales contributed $371,000. The company raised about $18.8 million through a public offering.