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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) 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.
electroCore (Nasdaq: ECOR) announced a Voluntary ex-ante Transparency Tender Notice published by NHS England, naming it the sole supplier of non-invasive vagus nerve stimulation therapy. This contract provides additional funding for gammaCore therapy to treat cluster headaches, running from October 1, 2020, to March 31, 2021, with a potential 3-year extension. Iain Strickland highlighted NHS England's commitment to providing cost-effective treatments. gammaCore is the only medical technology recommended by NICE for cluster headaches, fulfilling an essential patient need.
electroCore, a bioelectronic medicine company, received Emergency Use Authorization for gammaCore Sapphire CV to treat asthma exacerbations in COVID-19 patients. The company reported net sales of $753,000 for Q2 2020, slightly exceeding guidance, and reduced net cash burn to $5.2 million. Operating expenses fell by 50% year-over-year. The company strengthened its balance sheet by raising $10.3 million post-quarter, leading to pro forma cash of $29.2 million. Key revenue channels showed signs of recovery, with total operating expenses significantly reduced from $12.7 million in Q2 2019.
electroCore, Inc. (Nasdaq: ECOR) will announce its financial results for the second quarter ended June 30, 2020, on August 13, 2020, after market close. A conference call will take place at 4:30 PM Eastern Time to discuss the results and address questions. The company, focused on bioelectronic medicine, aims to enhance patient outcomes with its non-invasive vagus nerve stimulation therapy targeting conditions like cluster headaches and migraines.
electroCore (Nasdaq: ECOR) announced the availability and pricing of its gammaCore Sapphire™ CV non-invasive vagus nerve stimulation (nVNS) therapy under Emergency Use Authorization (EUA) for treating adults with known or suspected COVID-19 and asthma-related breathing difficulties. Starting July 31, 2020, the therapy will be priced at $1,250, down from the list price of $1,750. Premier Pharmacy Services will support distribution, and electroCore plans to establish a telehealth option for order fulfillment.
electroCore, Inc. (Nasdaq: ECOR) announced the publication of a paper in Cephalalgia, detailing non-invasive vagus nerve stimulation (nVNS) as a beneficial treatment for primary headache disorders. The narrative review supports nVNS as effective for acute and preventive treatment of cluster headaches and migraines. Key opinion leaders expressed optimism that the findings will enhance awareness of gammaCore™, an nVNS device. The press release underscores electroCore’s commitment to advancing non-invasive therapies for headache management.
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