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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, Inc. (Nasdaq: ECOR) reported Q3 2020 revenue of approximately $1.1 million, a 44% sequential increase and 58% year-over-year growth. The company reduced its quarterly cash burn to $4.1 million and secured an Emergency Use Authorization for gammaCore Sapphire™ CV to treat COVID-19 related symptoms. The Veterans Administration has initiated a clinical trial for non-invasive vagal nerve stimulation. Overall, operating expenses declined to $5.2 million, a significant drop from $11.2 million in Q3 2019, indicating cost management progress.
electroCore (Nasdaq: ECOR) has announced that CEO Dan Goldberger and CFO Brian Posner will participate in two upcoming investor conferences on November 19, 2020. The first event is the Sidoti Virtual Microcap Conference 2020, featuring a corporate presentation and 1x1 meetings from 10:45am to 11:45am ET. The second event is the Canaccord Genuity Virtual MedTech & Diagnostics Forum, also consisting of 1x1 meetings. The company specializes in non-invasive vagus nerve stimulation therapy, targeting conditions in neurology such as migraine and cluster headaches.
electroCore, Inc. (Nasdaq: ECOR) will release its third-quarter financial results on November 12, 2020, after market close. A conference call is scheduled for the same day at 4:30 PM Eastern Time, where management will discuss these results and answer questions. The company focuses on non-invasive vagus nerve stimulation therapy for neurological conditions, primarily targeting cluster headaches and migraines. For additional details, visit their website or join the conference via the provided webcast link.
electroCore, a bioelectronic medicine company, has appointed Sylvester "Sly" Steele as Vice President and General Manager of its newly established Government Channels Business Unit. With over 20 years of experience in the U.S. Navy, Steele will focus on expanding the reach of gammaCore Sapphire non-invasive vagus nerve stimulation therapy, particularly within the Veterans Administration and Department of Defense. The company aims to leverage his skills to drive growth and create new revenue opportunities in government sectors.
electroCore (Nasdaq: ECOR) anticipates Q3 2020 revenue will surpass $1 million, marking over a 35% increase sequentially and over 50% from Q3 2019. The company reported an operating cash burn of approximately $4.1 million, while raising $11.2 million through an existing stock purchase agreement. The Department of Veterans Affairs has agreed to sponsor a study of gammaCore Sapphire for veterans with traumatic brain injury and PTSD. Despite challenges due to COVID-19, the company is well-positioned for future growth.
electroCore, Inc. (NASDAQ: ECOR) has partnered with UpScript, LLC to provide exclusive telehealth services for its gammaCore Sapphire™ CV device, aimed at treating COVID-19 patients experiencing asthma-related breathing issues. Patients can access consultations and prescriptions via UpScript’s platform. This initiative comes under the FDA's Emergency Use Authorization (EUA), permitting the device's home use for eligible patients. The collaboration aims to streamline access to this therapy, enhancing patient care during the pandemic.
electroCore, a bioelectronic medicine company, will have CEO Dan Goldberger participate in a fireside chat at the JMP Securities MedTech Bio Summit on October 1, 2020, at 2:00 PM ET. This virtual event will be accessible via a live webcast, furthering the company's outreach and engagement with investors.
electroCore focuses on non-invasive vagus nerve stimulation therapies, currently targeting migraine and cluster headache treatments. For more details, visit www.electrocore.com.
electroCore, Inc. (Nasdaq: ECOR) announced its participation in the HC Wainwright Virtual 22nd Annual Global Investment Conference from September 14-16, 2020. The company will present on September 16, 2020, from 1:30-1:50 PM EDT. Interested parties can access a live webcast through the Investors section of the company's website. electroCore specializes in bioelectronic medicine, focusing on non-invasive vagus nerve stimulation therapy for conditions such as cluster headaches and migraines.
electroCore, Inc. (Nasdaq: ECOR) announced the publication of a study in Brain Stimulation demonstrating that non-invasive vagal nerve stimulation (nVNS) significantly decreases brain activity related to trauma in patients without PTSD. Conducted on 19 subjects, the study showed that nVNS led to critical improvements, highlighting its potential utility in treating psychiatric disorders like PTSD. The treatment is a promising alternative to existing therapies, which often have limitations. The research was sponsored by DARPA and further studies are anticipated.
electroCore (NASDAQ:ECOR) will present at the LD 500 investor conference on September 3rd at 6:20 AM PST / 9:20 AM EST, showcasing its unique bioelectronic medicine solutions. CEO Dan Goldberger will address the audience during this virtual event, which runs from September 1st to 4th. The conference provides a platform for engaging with investors interested in microcap companies. electroCore focuses on non-invasive vagus nerve stimulation, targeting conditions like migraine and cluster headaches.
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