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. (Nasdaq: ECOR) is a leading US-based bioelectronic medicine and wellness company, renowned for its pioneering non-invasive vagus nerve stimulation (nVNS) technology platform. Founded in 2005, electroCore specializes in developing patient-administered therapies aimed at treating a variety of conditions across neurology, psychiatry, gastroenterology, and other medical fields. The company’s flagship product, gammaCore, is FDA cleared for treating and preventing migraines and cluster headaches in adults, including adjunctive use for adolescent patients. Ongoing trials are exploring its efficacy in conditions such as epilepsy, gastric motility disorders, depression, and anxiety.
The company operates on a global scale, with headquarters in the US and additional offices in Germany, the UK, Italy, Australia, and Canada, employing more than 30 full-time consultants and specialists. electroCore's product portfolio also includes the Truvaga and TAC-STIM devices, designed to enhance general wellbeing and human performance. These devices are seeing increasing market adoption, as evidenced by the company's strong financial performance.
In 2023, electroCore reported a notable 87% increase in net sales, reaching $16 million, compared to $8.6 million in 2022. This growth was driven by higher sales of gammaCore in the US and internationally, along with expanding revenue from their non-prescription wellness products. The company also achieved a gross profit of $13.2 million with an 83% gross margin for the year. While research and development expenses saw a slight reduction, there were targeted investments to enhance the therapy delivery platform, including smartphone-integrated technologies.
electroCore continually strives to foster innovation and improve patient health outcomes. With their robust pipeline, strategic partnerships, and ongoing clinical trials, electroCore is well-positioned to maintain its leadership in the bioelectronic medicine sector. The company remains committed to delivering non-invasive, effective, and easily accessible treatments to improve the quality of life for patients worldwide.
electroCore, Inc. (Nasdaq: ECOR) has announced the completion of patient enrollment for its SAVIOR-1 study, which evaluates the impact of non-invasive vagus nerve stimulation (nVNS) on respiratory symptoms in COVID-19 patients. This significant step aims to uncover potential therapeutic benefits for respiratory distress caused by the virus. Dr. Carlos Tornero highlights the promise of vagus nerve stimulation in treating respiratory functions. The study is backed by electroCore and underscores the ongoing search for effective COVID-19 treatments.
electroCore (Nasdaq: ECOR) announced that gammaCore will remain listed in the NHS Supply Chain catalogue for an additional two years, extending its availability through June 3, 2023. This listing allows NHS trusts to continuously procure gammaCore Sapphire™ (nVNS), facilitating better access for patients in the UK needing non-invasive vagus nerve stimulation for migraine and cluster headache treatments. The inclusion is pivotal for ensuring that this innovative therapy is accessible and cost-effective for healthcare organizations amid budgetary constraints.
electroCore (Nasdaq: ECOR) announced FDA clearance on February 12, 2021, for its gammaCore device, now allowing its use in treating migraines in adolescents aged 12 to 17. This label expansion covers acute and preventive treatment for various headache types. With an estimated 10% of school-age children experiencing migraines, this development positions gammaCore as a unique non-pharmaceutical treatment option. The clearance supports prior trials showing significant effectiveness in migraine management without acute medication reliance.
On February 11, 2021, electroCore, Inc. (Nasdaq: ECOR) announced the completion of patient enrollment in its SAVIOR-1 study, which evaluates non-invasive vagus nerve stimulation (nVNS) for COVID-19 patients experiencing respiratory symptoms. Conducted in Valencia, Spain, the trial enrolled 110 patients aged 18 and older, randomized to receive either nVNS with standard care or standard care alone. The study aims to assess clinical events, safety, and proinflammatory cytokine levels, with preliminary results expected soon and full results in a peer-reviewed publication later this year.
electroCore, Inc. (Nasdaq: ECOR) announced the publication of a peer-reviewed paper in Colorectal Disease, detailing a study on non-invasive vagus nerve stimulation (nVNS) for treating ileus after colorectal surgery. Conducted at St. James’s University Hospital with 40 subjects, the trial aimed to assess safety and feasibility. Results indicated nVNS was safe and improved several recovery metrics, such as reduced morphine use by 25.6% post-surgery. Future studies, including the TRANSIT study with 140 patients, aim to explore nVNS's potential further.
electroCore (Nasdaq: ECOR), a bioelectronic medicine company, will participate in a fireside chat at the BTIG Virtual MedTech Conference from February 17-19, 2021. The chat is scheduled for February 17 at 12:30 PM ET. A live webcast will be available on the company's website. The company focuses on non-invasive vagus nerve stimulation therapy to treat conditions such as cluster headaches and migraines.
electroCore (Nasdaq: ECOR) announced that gammaCore Sapphire (nVNS) is included in NHS England's new MedTech Funding Mandate Policy 2021/22, effective April 1, 2021. This policy supports NHS commissioners and providers in adopting NICE-approved technologies to enhance patient outcomes. It emphasizes that gammaCore could save the NHS up to £4,561,223 over five years. The policy aims for effective, affordable, and cost-saving innovations, transitioning from shorter renewal cycles to more stable reimbursement structures.
electroCore, Inc. (Nasdaq: ECOR) announced an agreement with RSK Medical Inc. to distribute its gammaCore Sapphire™ non-invasive vagus nerve stimulator (nVNS) in Canada. This partnership aims to provide treatment for patients with primary headache disorders, particularly migraines and cluster headaches. The agreement, with a three-year initial term, includes minimum purchase commitments. Both companies emphasize their commitment to improving patient access to innovative therapies.
electroCore, Inc. (Nasdaq: ECOR) announced that Health Improvement Scotland has published a Scottish Health Technology Group adaptation for NHS Scotland regarding the use of gammaCore for cluster headache treatment. This recommendation supports NICE guidelines from 2019, stating gammaCore can reduce attack frequency and intensity, improving patients' quality of life and saving £450 per patient in the first year. The adaptation allows for a three-month trial of gammaCore in NHS Scotland. The company aims to expand access to its treatment for cluster headache patients.
electroCore, Inc. (Nasdaq: ECOR) announced that the Centers for Medicare and Medicaid Services (CMS) published a new HCPCS code K1020 for its gammaCore Sapphire™ D device, effective April 1, 2021. This non-invasive vagus nerve stimulator code aims to enhance patient access to gammaCore therapy, which treats primary headache conditions. The decision reflects CMS’s recognition of the clinical and economic benefits of the gammaCore treatment, positioning the company for broader coverage opportunities.
FAQ
What is the current stock price of electroCore (ECOR)?
What is the market cap of electroCore (ECOR)?
What is electroCore, Inc. known for?
What products does electroCore offer?
Where is electroCore headquartered?
How has electroCore's financial performance been recently?
What conditions is gammaCore used to treat?
What is Truvaga?
Who are electroCore's target customers?
How does electroCore support its research and development?
What recent achievements has electroCore made?
How can I learn more about electroCore's latest news and updates?
