electroCore, Inc. - ECOR STOCK NEWS

electroCore (NASDAQ: ECOR) announced that Teijin Limited has paid the annual fee under their license agreement for the non-invasive vagus nerve stimulation (nVNS) technology, extending Teijin's exclusive rights for another year in Japan. This agreement includes a non-refundable upfront payment and milestone payments contingent upon the commercialization decisions made by Teijin. The partnership facilitates the regulatory approval process with Teijin responsible for associated costs. Chief Strategy Officer Joshua Lev expressed confidence in the collaboration, emphasizing the commitment to improve health for headache sufferers globally.

electroCore, a commercial-stage bioelectronic medicine company, announced on April 6, 2023, that it received a license to import, distribute, and market its gammaCore Sapphire™ device in Indonesia. This is part of a broader strategy to expand its global presence, which includes earlier license approvals in Malaysia and South Africa. Iain Strickland, SVP of Global Sales and Strategy at electroCore, stated that these approvals not only validate their clinical evidence but also enhance geographical access for patients. The new registrations cover regions with a combined population of 367 million, presenting significant market opportunities and establishing new clinician networks in these territories.

electroCore, Inc. (NASDAQ: ECOR) announced on April 4, 2023, that its gammaCore Sapphire™ non-invasive vagus nerve stimulator (nVNS) will now be available for purchase by clinicians through the Carrick Institute, a recognized leader in clinical neuroscience education. This collaboration aims to enhance patient access to gammaCore as a therapeutic tool for managing primary headaches. The Carrick Institute has trained over 19,000 scholars in functional neurology, establishing a strong foundation for this partnership. Dan Goldberger, CEO of electroCore, expressed excitement about the initiative, emphasizing its potential benefits for headache sufferers.

electroCore (Nasdaq: ECOR) has published a study highlighting the potential of non-invasive vagus nerve stimulation (nVNS) to reduce brain injury, anxiety, and improve motor function following traumatic brain injury (TBI). Conducted on a rat model, the research shows significant reductions in brain lesion volumes—13% and 55% for low and high doses of nVNS, respectively—compared to controls. Additionally, neurobehavioral deficits associated with TBI were significantly improved in the high-dose nVNS group. The study was funded by a grant from the National Institute of Neurological Disorders and Stroke (NINDS), which indicates growing interest in nVNS as a feasible treatment option for TBI.

electroCore, Inc. (NASDAQ: ECOR) announced the positive results of a focus group study conducted on its Truvaga product. The study involved 34 participants who used Truvaga for 30 days. Findings revealed significant improvements in mental well-being, with 94% feeling calmer, 91% reporting improved mood, and 88% experiencing reduced anxiety. Moreover, 86% of participants expressed intent to continue using Truvaga for ongoing wellness benefits. The company is optimistic about launching Truvaga via e-commerce and affiliate channels in 2023, emphasizing its potential in enhancing health through vagus nerve stimulation.

electroCore, Inc. (Nasdaq: ECOR) announced on March 14, 2023, that it has no direct exposure to Silicon Valley Bank, Silvergate Bank, or Signature Bank. The company does not hold cash deposits or securities with these banks, maintaining corporate cash accounts with large global money center banks instead. electroCore specializes in developing non-invasive vagus nerve stimulation (nVNS) technology aimed at improving health and wellness through medical devices and consumer products. The press release also includes forward-looking statements regarding the company’s business prospects, product development, and potential markets for its technologies.

electroCore, Inc. (Nasdaq: ECOR) announced a study demonstrating that non-invasive vagus nerve stimulation (nVNS) can enhance second language learning. The study, conducted at the Defense Language Institute, will be presented at the 2023 American Academy of Neurology Annual Scientific Meeting on April 23, 2023, in Boston. The poster details the ability of nVNS to accelerate vocabulary acquisition while also reducing fatigue and boosting focus. This development could broaden the commercial applications of electroCore's nVNS technology in educational settings and wellness markets, aligning with the company’s goal to leverage its platform for diverse health improvements.

electroCore, a bioelectronic medicine company, announced participation in the 35th Annual Roth Conference in Dana Point, California from March 12-14, 2023. Chief Strategy Officer, Joshua Lev, will engage in a fireside chat on March 14, 2023, at 1:00 PM PT. The company will hold one-on-one meetings during the event, aimed at expanding its audience and discussing its non-invasive vagus nerve stimulation technology. This strategy is part of electroCore's commitment to enhancing health solutions through innovative nVNS technology for health management and general well-being. Interested parties can schedule meetings via the conference page or contact Investor Relations.

electroCore, Inc. (Nasdaq: ECOR) reported record full-year 2022 net sales of $8.6 million, a 58% increase from $5.5 million in 2021. Fourth-quarter sales reached $2.6 million, up 72% year-over-year. The company launched two new products: TAC-STIM™ and Truvaga™. Gross profit for 2022 was $7.0 million, with a gross margin of 81%. However, operating expenses rose to $29.9 million, leading to a GAAP net loss of $22.2 million. For 2023, the company anticipates net revenue between $14.0 - $15.0 million, projecting growth in legacy headache channels and new product revenues.