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Thanks God….my house in Tampa Bay is safe
I am almost 50 now
Let’s see how it play out. Maybe just another dream for $100 but missing a zero
This stock worth $5 not $50 IMO
I am semi-retire
Happy Sunday Mick
We need some rain here in Texas
Happy Weekend Mick
Thanks for sharing
Is this scam still alive? I thought it should be delisted by now
Short life as their car on the stock market
But now it is still a scam. What take over? Nothing to take over except selling shares and dump into uneducated investors on this scam company
$PMCB 100% SELL
https://www.barchart.com/stocks/quotes/PMCB/opinion
Dump and run away from this scam
$ECOR major insider buy
$ECOR heating up
$ECOR heating up
Is this scam still alive? How is the trade for $2.83?
Karma to KW. He should be in jail
$ECOR electroCore, Inc. Announces Distribution Agreement with Reliefband Technologies, LLC
Source: GlobeNewswire Inc.
electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine and wellness company, announced today that ReletexTM by Reliefband, the first and only FDA cleared non-invasive neuromodulation device available by prescription for nausea and vomiting, will be distributed and billed exclusively by electroCore, Inc. within the Department of Veterans Affairs (VA) and other Federal Supply Schedule (FSS) eligible entities.
“Reliefband is a leading innovator in wearable technology for the treatment of nausea and vomiting,” commented Rich Ransom, Chief Executive Officer of Reliefband Technologies. “Partnering with electroCore to distribute our prescription non-invasive, non-drug, neuromodulation device seemed like a natural fit. We are excited about the collaboration and hopeful the relationship will provide our veterans access to another FDA cleared non-drug solution.”
“We are thrilled to be offering the Reletex product within VA hospitals and other FSS eligible entities,” commented Dan Goldberger, Chief Executive Officer of electroCore. “We continue to build out our commercial sales organization and look for unique and complementary therapies which can be made available to our customer base. The drug-free, patient-controlled Reletex product is ideal for veterans suffering from nausea and vomiting and we believe it will be well adopted by customers who utilize neuromodulation devices such as our existing gammaCore™ therapy to treat medical conditions.”
About Reliefband Technologies, LLC
Reliefband is a world leader in neuromodulation and wearable technology. The company’s patented, clinically proven wearable solution quickly prevents and effectively treats nausea and vomiting. Its unique, FDA-cleared neuromodulation technology was originally developed for use in hospitals and alters nerve activity through targeted delivery of gentle pulses to the underside of the wrist to “turn off” feelings of nausea and vomiting. Reliefband is a drug-free alternative that eliminates the discomfort associated with nausea and vomiting. The Reliefband wearable solution has been an industry leader for more than 20 years and is available OTC, at Reliefband.com and Amazon.com.
About ReletexTM
Reletex is an advanced pulse generator that utilizes neuromodulation technology. It is the First-Class II neuromodulation device cleared by the FDA for the therapy of nausea and vomiting. Reletex is a single patient use device and can function with its included set of non-replaceable/non-rechargeable batteries for approximately 150 hours when used on setting 3. Reletex is available by prescription for the treatment of nausea and vomiting as an adjunct to antiemetics.
About electroCore, Inc.
electroCore, Inc. is a commercial stage bioelectronic medicine and wellness company dedicated to improving health through its non-invasive vagus nerve stimulation (“nVNS”) technology platform. Our focus is the commercialization of medical devices for the management and treatment of certain medical conditions and consumer product offerings utilizing nVNS to promote general wellbeing and human performance in the United States and select overseas markets.
For more information, visit www.electrocore.com.
Forward-Looking Statements
This press release and other written and oral statements made by representatives of electroCore may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements about electroCore's business prospects and clinical and product development plans; its pipeline or potential markets for its technologies; the timing, outcome and impact of regulatory, clinical and commercial developments; the Company’s business prospects through distribution of Reletex within the Department of Veterans Affairs or other FSS eligible entities or other new markets or other distribution agreements and other statements that are not historical in nature, particularly those that utilize terminology such as "anticipates," "will," "expects," "believes," "intends," other words of similar meaning, derivations of such words and the use of future dates. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to raise the additional funding needed to continue to pursue electroCore’s business and product development plans, the inherent uncertainties associated with developing new products or technologies, the ability to commercialize gammaCore™, the potential impact and effects of COVID-19 on the business of electroCore, electroCore’s results of operations and financial performance, and any measures electroCore has and may take in response to COVID-19 and any expectations electroCore may have with respect thereto, competition in the industry in which electroCore operates and overall market conditions. Any forward-looking statements are made as of the date of this press release, and electroCore assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents electroCore files with the SEC available at www.sec.gov.
Contact:
ECOR Investor Relations
(973) 302-9253
investors@electrocore.com
$ECOR electroCore, Inc. Announces Distribution Agreement with Reliefband Technologies, LLC
Source: GlobeNewswire Inc.
electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine and wellness company, announced today that ReletexTM by Reliefband, the first and only FDA cleared non-invasive neuromodulation device available by prescription for nausea and vomiting, will be distributed and billed exclusively by electroCore, Inc. within the Department of Veterans Affairs (VA) and other Federal Supply Schedule (FSS) eligible entities.
“Reliefband is a leading innovator in wearable technology for the treatment of nausea and vomiting,” commented Rich Ransom, Chief Executive Officer of Reliefband Technologies. “Partnering with electroCore to distribute our prescription non-invasive, non-drug, neuromodulation device seemed like a natural fit. We are excited about the collaboration and hopeful the relationship will provide our veterans access to another FDA cleared non-drug solution.”
“We are thrilled to be offering the Reletex product within VA hospitals and other FSS eligible entities,” commented Dan Goldberger, Chief Executive Officer of electroCore. “We continue to build out our commercial sales organization and look for unique and complementary therapies which can be made available to our customer base. The drug-free, patient-controlled Reletex product is ideal for veterans suffering from nausea and vomiting and we believe it will be well adopted by customers who utilize neuromodulation devices such as our existing gammaCore™ therapy to treat medical conditions.”
About Reliefband Technologies, LLC
Reliefband is a world leader in neuromodulation and wearable technology. The company’s patented, clinically proven wearable solution quickly prevents and effectively treats nausea and vomiting. Its unique, FDA-cleared neuromodulation technology was originally developed for use in hospitals and alters nerve activity through targeted delivery of gentle pulses to the underside of the wrist to “turn off” feelings of nausea and vomiting. Reliefband is a drug-free alternative that eliminates the discomfort associated with nausea and vomiting. The Reliefband wearable solution has been an industry leader for more than 20 years and is available OTC, at Reliefband.com and Amazon.com.
About ReletexTM
Reletex is an advanced pulse generator that utilizes neuromodulation technology. It is the First-Class II neuromodulation device cleared by the FDA for the therapy of nausea and vomiting. Reletex is a single patient use device and can function with its included set of non-replaceable/non-rechargeable batteries for approximately 150 hours when used on setting 3. Reletex is available by prescription for the treatment of nausea and vomiting as an adjunct to antiemetics.
About electroCore, Inc.
electroCore, Inc. is a commercial stage bioelectronic medicine and wellness company dedicated to improving health through its non-invasive vagus nerve stimulation (“nVNS”) technology platform. Our focus is the commercialization of medical devices for the management and treatment of certain medical conditions and consumer product offerings utilizing nVNS to promote general wellbeing and human performance in the United States and select overseas markets.
For more information, visit www.electrocore.com.
Forward-Looking Statements
This press release and other written and oral statements made by representatives of electroCore may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements about electroCore's business prospects and clinical and product development plans; its pipeline or potential markets for its technologies; the timing, outcome and impact of regulatory, clinical and commercial developments; the Company’s business prospects through distribution of Reletex within the Department of Veterans Affairs or other FSS eligible entities or other new markets or other distribution agreements and other statements that are not historical in nature, particularly those that utilize terminology such as "anticipates," "will," "expects," "believes," "intends," other words of similar meaning, derivations of such words and the use of future dates. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to raise the additional funding needed to continue to pursue electroCore’s business and product development plans, the inherent uncertainties associated with developing new products or technologies, the ability to commercialize gammaCore™, the potential impact and effects of COVID-19 on the business of electroCore, electroCore’s results of operations and financial performance, and any measures electroCore has and may take in response to COVID-19 and any expectations electroCore may have with respect thereto, competition in the industry in which electroCore operates and overall market conditions. Any forward-looking statements are made as of the date of this press release, and electroCore assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents electroCore files with the SEC available at www.sec.gov.
Contact:
ECOR Investor Relations
(973) 302-9253
investors@electrocore.com
All I can say is “SCAM”
Wow….more shares issue so they can dump it again
“to approve a proposed amendment to the PharmaCyte Biotech, Inc. articles of incorporation, as amended, to increase the number of authorized shares of common stock from 133,333,334 to 200,000,000; and”
Swing trader paradise for this scam company
Nice close today
He is hiding
$ECOR gammaCore™ Non-Invasive Vagal Nerve Stimulation Selected for Study Funded by the National Football League (NFL) and National Football League Players Association (NFLPA) on Alleviating Concussion Symptoms
Source: GlobeNewswire Inc.
electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine and wellness company, today announced that its gammaCore non-invasive vagus nerve stimulation (“nVNS”) has been selected to be a part of studies on effects of cannabinoids and alternative care on athlete pain management and performance. The NFL and NFLPA are jointly awarding two research grants to independent medical researchers at the American Society of Pain and Neuroscience (ASPN) and Emory University.
The grants will fund investigations into innovative, first-of-their-kind, alternative pain management methods that could benefit NFL players, and society at large. These awards are the second round chosen by the NFL-NFLPA Joint Pain Management Committee (PMC), which aims to facilitate research to better understand and improve potential alternative pain management treatments for NFL players.
nVNS will be used in “A Pilot Study Assessing Non-Invasive Treatment of Refractory Post-Concussion Headache Pain," led by Dr. Erika Petersen and researchers at the American Society of Pain and Neuroscience (ASPN). The randomized study will compare nVNS and cannabidiol (CBD) in contact sport athletes experiencing Post-Traumatic Headache (PTH) to current standard of care treatment.
PTH is one of the most common aftereffects of concussion or other traumatic brain injury. PTH is a poorly treated, highly debilitating headache disorder where medications and other options for treatment are not very effective. Given that nearly 4 million Americans are diagnosed with concussions annually, PTH should be considered a substantial public health concern. The pilot data gathered in this study will guide future investigations into treatment of patients with post-traumatic headache.
“We are thrilled to have been selected to be part of a study that focuses on alternative care options for pain management and performance,” said Dr. Peter Staats, Chief Medical Officer at electroCore. “Post-Traumatic Headache as an area of focus for electroCore is a natural progression from our cleared indications in primary headache. We are hopeful that nVNS will prove to be a pain management option for athletes, military personnel, or anyone suffering from pain associated with PTH.”
About the NFL-NFLPA Joint Pain Management Committee
The Joint Pain Management Committee is comprised of medical experts appointed by the league and the NFLPA. The Committee works to establish uniform standards for club practices and policies regarding pain management and the use of prescription medications by NFL players.
About electroCore, Inc.
electroCore, Inc. is a commercial stage bioelectronic medicine and wellness company dedicated to improving health through its non-invasive vagus nerve stimulation (“nVNS”) technology platform. Our focus is the commercialization of medical devices for the management and treatment of certain medical conditions and consumer product offerings utilizing nVNS to promote general wellbeing and human performance in the United States and select overseas markets.
For more information, visit www.electrocore.com.
About gammaCore™
gammaCore™ (nVNS) is the first non-invasive, hand-held medical therapy applied at the neck to treat migraine and cluster headache through the utilization of a mild electrical stimulation to the vagus nerve that passes through the skin. Designed as a portable, easy-to-use technology, gammaCore is self-administered by patients, as needed, without the potential side effects associated with commonly prescribed drugs. When placed on a patient’s neck over the vagus nerve, gammaCore stimulates the nerve’s afferent fibers, which may lead to a reduction of pain in patients.
gammaCore™ is intended to provide non-invasive vagus nerve stimulation (nVNS) on the side of the neck for preventive treatment of migraine and the acute treatment of pain associated with migraine in patients 12 and older. gammaCore is also indicated for adjunctive use for preventive treatment of cluster headache, acute treatment of episodic cluster headache, and treatment of hemicrania continua and paroxysmal hemicrania in adult patients. gammaCore should not be used by people with an active implantable medical device. Please refer to gammaCore.com or the Instructions for Use for complete safety information, including indications, contraindications, warnings, cautions, and instructions.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements regarding the results from work being conducted as part of the two research grants to independent medical researchers at the American Society of Pain and Neuroscience (ASPN) and Emory University on effects of cannabinoids and alternative care on athlete pain management and performance, statements about electroCore's business prospects and clinical and product development plans; its pipeline or potential markets for its technologies, electroCore's business prospects, its sales and marketing and product development plans, future cash flow projections, anticipated costs, its product portfolio or potential markets for its technologies, the availability and impact of payor coverage, the potential of nVNS generally and gammaCore nVNS in particular to concussion and PTH, and other statements that are not historical in nature, particularly those using terminology such as "anticipates," "expects," "believes," "intends," other words of similar meaning, derivations of such words and the use of future dates. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to obtain additional financing necessary to continue electroCore's business, sales and marketing and product development plans, the uncertainties inherent in the development of new products or technologies, the ability to successfully commercialize TAC-STIM™, competition in the industry in which electroCore operates and general market conditions. The results of earlier preclinical studies and clinical trials may not be predictive of results of future preclinical studies, clinical trials, or commercial success. All forward-looking statements are made as of the date of this press release, and electroCore undertakes no obligation to update forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should refer to all information set forth in this document and should also refer to the disclosure of risk factors set forth in the reports and other documents electroCore files with the SEC, available at www.sec.gov.
Contact:
ECOR Investor Relations
(973) 302-9253
investors@electrocore.com
Primary Logo
$ECOR gammaCore™ Non-Invasive Vagal Nerve Stimulation Selected for Study Funded by the National Football League (NFL) and National Football League Players Association (NFLPA) on Alleviating Concussion Symptoms
Source: GlobeNewswire Inc.
electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine and wellness company, today announced that its gammaCore non-invasive vagus nerve stimulation (“nVNS”) has been selected to be a part of studies on effects of cannabinoids and alternative care on athlete pain management and performance. The NFL and NFLPA are jointly awarding two research grants to independent medical researchers at the American Society of Pain and Neuroscience (ASPN) and Emory University.
The grants will fund investigations into innovative, first-of-their-kind, alternative pain management methods that could benefit NFL players, and society at large. These awards are the second round chosen by the NFL-NFLPA Joint Pain Management Committee (PMC), which aims to facilitate research to better understand and improve potential alternative pain management treatments for NFL players.
nVNS will be used in “A Pilot Study Assessing Non-Invasive Treatment of Refractory Post-Concussion Headache Pain," led by Dr. Erika Petersen and researchers at the American Society of Pain and Neuroscience (ASPN). The randomized study will compare nVNS and cannabidiol (CBD) in contact sport athletes experiencing Post-Traumatic Headache (PTH) to current standard of care treatment.
PTH is one of the most common aftereffects of concussion or other traumatic brain injury. PTH is a poorly treated, highly debilitating headache disorder where medications and other options for treatment are not very effective. Given that nearly 4 million Americans are diagnosed with concussions annually, PTH should be considered a substantial public health concern. The pilot data gathered in this study will guide future investigations into treatment of patients with post-traumatic headache.
“We are thrilled to have been selected to be part of a study that focuses on alternative care options for pain management and performance,” said Dr. Peter Staats, Chief Medical Officer at electroCore. “Post-Traumatic Headache as an area of focus for electroCore is a natural progression from our cleared indications in primary headache. We are hopeful that nVNS will prove to be a pain management option for athletes, military personnel, or anyone suffering from pain associated with PTH.”
About the NFL-NFLPA Joint Pain Management Committee
The Joint Pain Management Committee is comprised of medical experts appointed by the league and the NFLPA. The Committee works to establish uniform standards for club practices and policies regarding pain management and the use of prescription medications by NFL players.
About electroCore, Inc.
electroCore, Inc. is a commercial stage bioelectronic medicine and wellness company dedicated to improving health through its non-invasive vagus nerve stimulation (“nVNS”) technology platform. Our focus is the commercialization of medical devices for the management and treatment of certain medical conditions and consumer product offerings utilizing nVNS to promote general wellbeing and human performance in the United States and select overseas markets.
For more information, visit www.electrocore.com.
About gammaCore™
gammaCore™ (nVNS) is the first non-invasive, hand-held medical therapy applied at the neck to treat migraine and cluster headache through the utilization of a mild electrical stimulation to the vagus nerve that passes through the skin. Designed as a portable, easy-to-use technology, gammaCore is self-administered by patients, as needed, without the potential side effects associated with commonly prescribed drugs. When placed on a patient’s neck over the vagus nerve, gammaCore stimulates the nerve’s afferent fibers, which may lead to a reduction of pain in patients.
gammaCore™ is intended to provide non-invasive vagus nerve stimulation (nVNS) on the side of the neck for preventive treatment of migraine and the acute treatment of pain associated with migraine in patients 12 and older. gammaCore is also indicated for adjunctive use for preventive treatment of cluster headache, acute treatment of episodic cluster headache, and treatment of hemicrania continua and paroxysmal hemicrania in adult patients. gammaCore should not be used by people with an active implantable medical device. Please refer to gammaCore.com or the Instructions for Use for complete safety information, including indications, contraindications, warnings, cautions, and instructions.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements regarding the results from work being conducted as part of the two research grants to independent medical researchers at the American Society of Pain and Neuroscience (ASPN) and Emory University on effects of cannabinoids and alternative care on athlete pain management and performance, statements about electroCore's business prospects and clinical and product development plans; its pipeline or potential markets for its technologies, electroCore's business prospects, its sales and marketing and product development plans, future cash flow projections, anticipated costs, its product portfolio or potential markets for its technologies, the availability and impact of payor coverage, the potential of nVNS generally and gammaCore nVNS in particular to concussion and PTH, and other statements that are not historical in nature, particularly those using terminology such as "anticipates," "expects," "believes," "intends," other words of similar meaning, derivations of such words and the use of future dates. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to obtain additional financing necessary to continue electroCore's business, sales and marketing and product development plans, the uncertainties inherent in the development of new products or technologies, the ability to successfully commercialize TAC-STIM™, competition in the industry in which electroCore operates and general market conditions. The results of earlier preclinical studies and clinical trials may not be predictive of results of future preclinical studies, clinical trials, or commercial success. All forward-looking statements are made as of the date of this press release, and electroCore undertakes no obligation to update forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should refer to all information set forth in this document and should also refer to the disclosure of risk factors set forth in the reports and other documents electroCore files with the SEC, available at www.sec.gov.
Contact:
ECOR Investor Relations
(973) 302-9253
investors@electrocore.com
Primary Logo
This is a completely scam company
$ECOR electroCore Provides Select Second Quarter 2023 Financial Guidance
Source: GlobeNewswire Inc.
electroCore, Inc. (the “Company”) (Nasdaq: ECOR), a commercial-stage bioelectronic medicine and wellness company, today provided select preliminary unaudited financial guidance for the second quarter of 2023.
Financial Guidance
Preliminary unaudited financial guidance for the second quarter of 2023:
Revenue: The Company anticipates reporting record quarterly revenue of approximately $3,550,000 for the quarter ended June 30, 2023. This would represent approximately 65% growth over second quarter 2022 revenue of approximately $2,157,000.
Rx gammaCore - Department of Veterans Affairs and Department of Defense: For the second quarter of 2023, the Company expects to recognize record revenue of approximately $2,085,000 from its government channel which includes sales pursuant to the Department of Veterans Affairs (“VA”) and Department of Defense (“DoD”) originating prescriptions for the Company’s gammaCore® products. This would represent approximately 75% revenue growth compared to approximately $1,189,000 of revenue from this channel during the second quarter of 2022. 138 VA and DoD military treatment facilities have purchased gammaCore products through June 30, 2023, as compared to 106 through June 30, 2022.
Rx gammaCore – United States Commercial: Physician dispense cash pay channel prescribers, including gC Direct and gConcierge, have grown to approximately 2,225 at the end of the second quarter of 2023, up from 660 at the end of the second quarter of 2022. The Company expects revenue in these cash pay channels to be approximately $430,000 in the second quarter of 2023 representing approximately 32% growth over the second quarter 2022 revenue of $325,000.
Truvaga: For the second quarter of 2023, the Company expects to recognize net revenue of approximately $291,000 as compared $147,000 in the first quarter of 2023. Truvaga was launched in late 2022.
TAC-STIM: Revenues associated with our human performance brand, TAC-STIM™ which was launched in late 2022, is expected to be approximately $311,000.
Outside of the U.S.: The Company expects to recognize revenue of approximately $427,000 from its business outside of the U.S. for the second quarter of 2023, which would represent approximately an 8% decrease from the second quarter of 2022. Revenue from outside of the U.S. increased by 8% in local currency, before unfavorable adjustments in foreign exchange rate.
Net Cash Used: Net cash used during the quarter ended June 30, 2023, was approximately $3.5 million.
FY 2023 Revenue Guidance
The Company reiterated its revenue guidance of $14.0-$15.0 million for the year ending December 31, 2023.
The Company intends to provide a detailed operational and financial update during its second quarter 2023 earnings call in August 2023.
About electroCore, Inc.
electroCore, Inc. is a commercial stage bioelectronic medicine and wellness company dedicated to improving health through its non-invasive vagus nerve stimulation (“nVNS”) technology platform. Our focus is the commercialization of medical devices for the management and treatment of certain medical conditions and consumer product offerings utilizing nVNS to promote general wellbeing and human performance in the United States and select overseas markets.
For more information, visit www.electrocore.com.
Forward-Looking Statements
This press release and other written and oral statements made by representatives of electroCore may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements about expectations for revenue during the second quarter 2023 and revenue for 2023, electroCore’s business prospects and clinical and product development plans; its pipeline or potential markets for its technologies; the timing, outcome and impact of regulatory, clinical and commercial developments; business prospects around its TAC-STIM and Truvaga wellness offerings and other new products and markets, and other statements that are not historical in nature, particularly those that utilize terminology such as "anticipates," "will," "expects," "believes," "intends," and other words of similar meaning, derivations of such words and the use of future dates. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to raise the additional funding needed to continue to pursue electroCore’s business and product development plans, the inherent uncertainties associated with developing new products or technologies, the ability to commercialize gammaCore™, TAC-STIM™, and Truvaga™, the potential impact and effects of COVID-19 on the business of electroCore, electroCore’s results of operations and financial performance, inflation and currency fluctuations, and any measures electroCore has and may take in response to COVID-19 and any expectations electroCore may have with respect thereto, competition in the industry in which electroCore operates and overall economic and market conditions. Any forward-looking statements are made as of the date of this press release, and electroCore assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents electroCore files with the SEC available at www.sec.gov.
Contact:
ECOR Investor Relations
(973) 302-9253
investors@electrocore.com
$ECOR electroCore Provides Select Second Quarter 2023 Financial Guidance
Source: GlobeNewswire Inc.
electroCore, Inc. (the “Company”) (Nasdaq: ECOR), a commercial-stage bioelectronic medicine and wellness company, today provided select preliminary unaudited financial guidance for the second quarter of 2023.
Financial Guidance
Preliminary unaudited financial guidance for the second quarter of 2023:
Revenue: The Company anticipates reporting record quarterly revenue of approximately $3,550,000 for the quarter ended June 30, 2023. This would represent approximately 65% growth over second quarter 2022 revenue of approximately $2,157,000.
Rx gammaCore - Department of Veterans Affairs and Department of Defense: For the second quarter of 2023, the Company expects to recognize record revenue of approximately $2,085,000 from its government channel which includes sales pursuant to the Department of Veterans Affairs (“VA”) and Department of Defense (“DoD”) originating prescriptions for the Company’s gammaCore® products. This would represent approximately 75% revenue growth compared to approximately $1,189,000 of revenue from this channel during the second quarter of 2022. 138 VA and DoD military treatment facilities have purchased gammaCore products through June 30, 2023, as compared to 106 through June 30, 2022.
Rx gammaCore – United States Commercial: Physician dispense cash pay channel prescribers, including gC Direct and gConcierge, have grown to approximately 2,225 at the end of the second quarter of 2023, up from 660 at the end of the second quarter of 2022. The Company expects revenue in these cash pay channels to be approximately $430,000 in the second quarter of 2023 representing approximately 32% growth over the second quarter 2022 revenue of $325,000.
Truvaga: For the second quarter of 2023, the Company expects to recognize net revenue of approximately $291,000 as compared $147,000 in the first quarter of 2023. Truvaga was launched in late 2022.
TAC-STIM: Revenues associated with our human performance brand, TAC-STIM™ which was launched in late 2022, is expected to be approximately $311,000.
Outside of the U.S.: The Company expects to recognize revenue of approximately $427,000 from its business outside of the U.S. for the second quarter of 2023, which would represent approximately an 8% decrease from the second quarter of 2022. Revenue from outside of the U.S. increased by 8% in local currency, before unfavorable adjustments in foreign exchange rate.
Net Cash Used: Net cash used during the quarter ended June 30, 2023, was approximately $3.5 million.
FY 2023 Revenue Guidance
The Company reiterated its revenue guidance of $14.0-$15.0 million for the year ending December 31, 2023.
The Company intends to provide a detailed operational and financial update during its second quarter 2023 earnings call in August 2023.
About electroCore, Inc.
electroCore, Inc. is a commercial stage bioelectronic medicine and wellness company dedicated to improving health through its non-invasive vagus nerve stimulation (“nVNS”) technology platform. Our focus is the commercialization of medical devices for the management and treatment of certain medical conditions and consumer product offerings utilizing nVNS to promote general wellbeing and human performance in the United States and select overseas markets.
For more information, visit www.electrocore.com.
Forward-Looking Statements
This press release and other written and oral statements made by representatives of electroCore may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements about expectations for revenue during the second quarter 2023 and revenue for 2023, electroCore’s business prospects and clinical and product development plans; its pipeline or potential markets for its technologies; the timing, outcome and impact of regulatory, clinical and commercial developments; business prospects around its TAC-STIM and Truvaga wellness offerings and other new products and markets, and other statements that are not historical in nature, particularly those that utilize terminology such as "anticipates," "will," "expects," "believes," "intends," and other words of similar meaning, derivations of such words and the use of future dates. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to raise the additional funding needed to continue to pursue electroCore’s business and product development plans, the inherent uncertainties associated with developing new products or technologies, the ability to commercialize gammaCore™, TAC-STIM™, and Truvaga™, the potential impact and effects of COVID-19 on the business of electroCore, electroCore’s results of operations and financial performance, inflation and currency fluctuations, and any measures electroCore has and may take in response to COVID-19 and any expectations electroCore may have with respect thereto, competition in the industry in which electroCore operates and overall economic and market conditions. Any forward-looking statements are made as of the date of this press release, and electroCore assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents electroCore files with the SEC available at www.sec.gov.
Contact:
ECOR Investor Relations
(973) 302-9253
investors@electrocore.com
AUR traded at $2.76 with similar ideas but I think MULN has better position
Looking good
I am in for the winning
Awesome news
Still looking good here at great entry level
Thanks Brother and Happy 4th as well
Back in today at $.10….let’s see $.12
Happy 4th of July
Whatever they did, this company is still a scam. Selling shares only and zero product and zero revenue
SCAM