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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, a bioelectronic medicine and wellness company, has engaged FNK IR to expand its investor relations program. The company has reported seven consecutive quarters of record revenue and a five-year CAGR of 69%. CEO Dan Goldberger cited strong financial performance, high gross margins, and improving operating leverage as reasons for enhancing their investor relations efforts.
Rob Fink, Managing Partner of FNK IR, highlighted electroCore's rapid growth, efficient operations, and strong sales channels. The engagement aims to broaden awareness of electroCore among relevant investors and drive sustainable shareholder value. The company expects to generate positive cash flow early next year.
electroCore, Inc. (Nasdaq: ECOR) announced promising results from an Air Force Research Laboratories (AFRL) study on the effectiveness of non-invasive vagus nerve stimulation (nVNS) in accelerating pilot training. The study, conducted at Wright-Patterson Air Force Base, involved 28 participants from the 711th Human Performance Squadron.
Key findings include:
- Significant positive effect of nVNS over sham on day one (37% after trial one, increasing to 51% after trial 12)
- 99% probability that active nVNS was superior to sham on trial 12
- Higher learning rate in the active nVNS group
The research suggests that electroCore's TAC-STIM (nVNS) technology could potentially enhance sensorimotor learning in USAF Simulator Based Pilot Training, marking a significant advancement in military training techniques.
electroCore (Nasdaq: ECOR), a bioelectronic medicine and wellness company, has announced its participation in the 26th Annual H.C. Wainwright Global Investment Conference in New York City from September 9-11, 2024. The company's CEO, Dan Goldberger, will take part in a fireside chat on Wednesday, September 11th, at 12:00 PM ET.
This event provides an opportunity for investors to gain insights into electroCore's operations and future plans. Mr. Goldberger will also be available for one-on-one meetings on the same day, offering a chance for more in-depth discussions with interested parties. The conference serves as a platform for electroCore to showcase its advancements in the field of bioelectronic medicine and wellness to a global investment audience.
Ecora Resources PLC (LSE/TSX:ECOR) announced its half-year results for the six months ended 30 June 2024. Total portfolio contribution increased by 15% year-on-year to $51.3 million, driven by strong performance from the Kestrel steelmaking coal royalty. Adjusted earnings per share rose to 10.38c, up from 9.06c in H1 2023. The company reported a profit before tax of $17.9 million, compared to a loss of $10.2 million in the same period last year.
Ecora declared a half-year dividend of 1.70 cents per share, representing 33% of free cash flow. The company also amended and extended its $150 million revolving credit facility on more favorable terms. Post-period, Ecora acquired a 0.85% Gross Revenue Royalty over the Phalaborwa rare earths project for $8.5 million. However, BHP's decision to temporarily suspend construction of the West Musgrave nickel-copper project was noted as disappointing.
electroCore, Inc. (Nasdaq: ECOR), a bioelectronic medicine and wellness company, has announced its participation in two upcoming investor conferences. CEO Dan Goldberger will attend the 9th Annual Needham Virtual MedTech & Diagnostics 1x1 Conference from August 12-13, 2024. Interested parties can contact Needham to schedule one-on-one meetings.
Additionally, CFO Brian Posner will be present at the 44th Annual Canaccord Genuity Growth Conference at the InterContinental Hotel in Boston, MA. electroCore will host investor meetings on August 13, 2024. To arrange a meeting, interested parties should contact Canaccord Genuity.
These conferences provide electroCore with opportunities to engage with investors and showcase their commercial-stage bioelectronic medicine and wellness solutions.
electroCore, Inc. (Nasdaq: ECOR) reported its second quarter 2024 financial results, marking its seventh consecutive record quarterly net sales of $6.1 million, a 73% increase from Q2 2023. The company's net loss decreased by 46% to $2.7 million compared to the same period last year. Key highlights include:
- Launch of direct-to-consumer product Truvaga Plus™
- Raised $9.0 million in a Registered Direct Offering
- Joined the Russell Microcap® Index
- Commercial launch of next-generation TAC-STIM™
The company's gross profit increased to $5.3 million with an 86% gross margin. Total operating expenses remained stable at $7.9 million. The significant improvement in financial performance was primarily attributed to the substantial increase in net sales across major channels.
electroCore, Inc. (NASDAQ: ECOR), a bioelectronic medicine and wellness company, has announced the appointment of Stephen Smith as VP of Quality, Regulatory, and Compliance. As part of his employment package, the Compensation Committee granted Smith 10,000 restricted stock units (RSUs) on August 1, 2024. This grant was made as an inducement material under NASDAQ Listing Rule 5635(c)(4). The RSUs will vest over a three-year period, with 33% vesting on each anniversary of the grant date, contingent on Smith's continued employment with electroCore.
electroCore, Inc. (Nasdaq: ECOR) announced positive results from a clinical trial conducted at the Defense Language Institute, demonstrating the effectiveness of non-invasive Vagus Nerve Stimulation (nVNS) in accelerating foreign language learning. The study, published in Scientific Reports, showed that nVNS significantly improved Arabic vocabulary recall compared to sham treatment (p=0.025). Additionally, nVNS participants experienced increased energy (p=0.036) and focus (p=0.001) during training sessions.
The trial involved 36 students from DLI's Arabic school, with 18 receiving nVNS and 18 receiving sham treatment. The nVNS group maintained improved recall even after treatment completion. Dr. Richard McKinley of the Air Force's 711th Human Performance Wing noted that nVNS could be a viable tool to enhance warfighter training and resilience in various areas.
electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine and wellness company, has announced that it will release its financial results for the second quarter ended June 30, 2024, after the market closes on Wednesday, August 7, 2024. The company will host a conference call and webcast at 4:30 PM EDT on the same day to discuss the financial results and address questions from investors and analysts.
Interested parties can access the conference call by dialing 877-407-8835 (domestic) or +1 201-689-8779 (international) and using the Conference ID: 13744119. A webcast of the earnings call will also be available for those who prefer to listen online.
electroCore has launched TAC-STIM™, an advanced non-invasive vagus nerve stimulator designed for active-duty military use. The device, developed with the US military, aims to enhance human performance by improving focus, reducing fatigue, and accelerating learning by 20-35%. TAC-STIM is portable and uses electroCore's patented technology for precise vagus nerve stimulation. It has been independently tested by the Air Force Research Laboratory and Air Force Special Operations Command, showing reliable performance in various operational settings. TAC-STIM is now available for wholesale purchase.
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