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All over the places my Friend
Thank you
$ECOR electroCore Inc (ECOR) Reports Substantial Sales Growth in Q3 2023
https://finance.yahoo.com/news/electrocore-inc-ecor-reports-substantial-232955987.html
$ECOR electroCore Inc (ECOR) Reports Substantial Sales Growth in Q3 2023
https://finance.yahoo.com/news/electrocore-inc-ecor-reports-substantial-232955987.html
Life is beautiful and I just have a new baby girl after almost 17 years
$ECOR good news
Record third quarter 2023 net sales of $4.5 million, an increase of approximately 128% over third quarter 2022
Company increases revenue guidance for full year 2023 to $15.0 million - $15.5 million
$ECOR electroCore Announces Third Quarter 2023 Financial Results
Source: GlobeNewswire Inc.
electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine company and wellness company, today announced third quarter 2023 financial results and provided an operational update.
Third Quarter 2023 and Recent Highlights
Record revenue of $4.5 million, an increase of approximately 128% over third quarter 2022
Raised net proceeds of approximately $7.5 million in a registered direct public offering and concurrent private placement to institutional and accredited investors, and a separate private placement to officers and directors.
Raising revenue guidance for full year 2023 to $ 15.0 million - $15.5 million.
Third Quarter 2023 Financial Results
For the quarter ended September 30, 2023, electroCore reported net sales of $4.5 million compared to $2.0 million during the same period of 2022, which represents an approximately 128% increase over the prior year. The increase of $2.5 million is primarily due to increasing prescription revenue for our gammaCore device in the Department of Veteran Affairs and Department of Defense, an increase in prescription revenue for our gammaCore device from outside the United States, and continued revenue from the sales of our Truvaga and TAC-STIM wellness products.
(in thousands) Three months ended
September 30, %
Change Nine months ended
September 30, %
Change
Channel 2023 2022 2023 2022
Rx gammaCore – Department of Veteran Affairs and Department of Defense $ 2,737 $ 1,167 135 % $ 6,523 $ 3,597 81 %
Rx gammaCore – U.S. Commercial 439 392 12 % 1,310 1,133 16 %
Outside the United States 464 417 11 % 1,298 1,189 9 %
Truvaga 267 — — 704 — —
TAC-STIM 601 — — 1,000 — —
Other — — — 4 113 -96 %
$ 4,508 $ 1,976 128 % $ 10,839 $ 6,032 80 %
Gross profit for the third quarter of 2023 was $3.8 million as compared to $1.7 million for the third quarter of 2022. Gross margin for the third quarter of 2023 was 85% as compared to 87% in the third quarter of 2022.
Total operating expenses in the third quarter of 2023 were approximately $8.0 million as compared to $7.3 million in the third quarter of 2022.
Research and development expense in the third quarter of 2023 was $1.2 million as compared to $1.6 million in the third quarter of 2022. This decrease in research and development expense was due to a decrease in compensation associated with cost cutting measures offset by investments in product development for the next generation of the Company’s non-invasive nerve stimulators.
Selling, general and administrative expense in the third quarter of 2023 was $6.7 million as compared to $5.7 million in the third quarter of 2022. This increase was primarily due to greater variable selling and marketing costs consistent with the increase in net sales.
GAAP net loss in the third quarter of 2023 was $4.0 million compared to the $5.5 million net loss in the third quarter of 2022.
Adjusted EBITDA net loss in the third quarter of 2023 was $3.0 million as compared to a net loss of $4.8 million in the third quarter of 2022.
The Company defines adjusted EBITDA net loss as GAAP net loss, adjusted to exclude non-operating gains/losses, depreciation and amortization, stock-based compensation expense, severance and other related charges, inventory reserve charges, severance and other related charges, legal fees associated with stockholders’ litigation, and benefit from income taxes. A reconciliation of GAAP net loss to non-GAAP adjusted EBITDA net loss has been provided in the financial statement tables included in the press release.
Cash, cash equivalents and restricted cash at September 30, 2023 totaled approximately $13.7 million, as compared to approximately $18.0 million as of December 31, 2022. In July 2023, the Company raised net proceeds of approximately $7.5 million through a registered direct offering and concurrent private placements priced “at the market” under Nasdaq rules.
Full Year 2023 Outlook
The Company is increasing its revenue guidance for the year ending December 31, 2023 to be $15.0 million - $15.5 million, as compared to its previous guidance of $14.0 million - $15.0 million.
Webcast and Conference Call Information
electroCore’s management team will host a conference call today, November 8, 2023, beginning at 4:30 PM EST.
Investors interested in listening to the conference call, or webcast may dial 877-407-8835 for domestic callers or 201-689-8779 for international callers, using Conference ID: 13739200, or by connecting to the Web: electroCore Earnings Webcast. An archived webcast of the event will be available on the “Investors” section of the company’s website at: www.electrocore.com.
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.
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 for 2023 and beyond, 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 Truvaga wellness and TAC-STIM human performance 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 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
electroCore, Inc.
Condensed Consolidated Statements of Operations
(unaudited)
(in thousands, except per share data)
Three months ended Nine months ended
September 30, September 30,
2023 2022 2023 2022
Net sales $ 4,508 $ 1,976 $ 10,839 $ 6,032
Cost of goods sold 661 258 1,704 976
Gross profit 3,847 1,718 9,135 5,056
Operating expenses
Research and development 1,249 1,617 4,213 3,892
Selling, general and administrative 6,724 5,657 20,233 18,121
Total operating expenses 7,973 7,274 24,446 22,013
Loss from operations (4,126 ) (5,556 ) (15,311 ) (16,957 )
Other (income) expense
Interest and other income (94 ) (103 ) (298 ) (145 )
Other expense — — — 5
Total other (income) expense (94 ) (103 ) (298 ) (140 )
Loss before income taxes (4,032 ) (5,453 ) (15,013 ) (16,817 )
Benefit from income taxes — — 211 445
Net loss $ (4,032 ) $ (5,453 ) $ (14,802 ) $ (16,372 )
Net loss per share of common stock - Basic and Diluted $ (0.68 ) $ (1.20 ) $ (2.87 ) $ (3.45 )
Weighted average common shares outstanding - Basic and Diluted 5,945 4,544 5,149 4,746
electroCore, Inc.
Condensed Consolidated Balance Sheet Information
(unaudited)
(in thousands)
September 30,
2023 December 31,
2022
Cash and cash equivalents $ 13,460 $ 17,712
Restricted cash $ 250 $ 250
Total assets $ 20,108 $ 24,756
Current liabilities $ 8,508 $ 7,045
Total liabilities $ 9,068 $ 7,670
Total equity $ 11,040 $ 17,086
(Unaudited) Use of Non-GAAP Financial Measure
The Company is presenting adjusted EBITDA net loss because it believes this measure is a useful indicator of its operating performance. electroCore management uses this non-GAAP measure principally as a measure of the company’s core operating performance and believes that this measure is useful to investors because it is frequently used by the financial community, investors, and other interested parties to evaluate companies in the company’s industry. The Company also believes that this measure is useful to its management and investors as a measure of comparative operating performance from period to period. Additionally, the company believes its use of non-GAAP adjusted EBITDA net loss from operations facilitates management’s internal comparisons to historical operating results by factoring out potential differences caused by gains and charges not related to its regular, ongoing business, including, without limitation, non-cash charges and certain large and unpredictable charges such as restructuring expenses.
The Company defines adjusted EBITDA net loss as GAAP net loss, adjusted to exclude non-operating gains/losses, depreciation and amortization, stock-based compensation expense, severance and other related charges, inventory reserve charges, legal fees associated with stockholders’ litigation, and benefit from income taxes.
Following is a reconciliation of GAAP net loss to non-GAAP adjusted EBITDA net loss (in thousands):
Three months ended Nine months ended
September 30, September 30,
2023 2022 2023 2022
GAAP net loss $ (4,032 ) $ (5,453 ) $ (14,802 ) $ (16,372 )
Depreciation and amortization 291 153 735 400
Stock-based compensation 543 566 1,298 2,095
Inventory reserve charge 193 — 258 —
Severance and other related charges 113 — 445 —
Legal fees associated with stockholders' litigation 7 17 42 149
Interest and other (income) expense (94 ) (103 ) (298 ) (140 )
Benefit from income taxes — — (211 ) (445 )
Adjusted EBITDA net loss $ (2,979 ) $ (4,820 ) $ (12,533 ) $ (14,313 )
The Company’s use of a non-GAAP measure has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of its results as reported under GAAP. Some of these limitations are: the non-GAAP measure does not reflect interest or tax payments that may represent a reduction in cash available; although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and the non-GAAP measure does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements; the non-GAAP measure does not reflect the potentially dilutive impact of equity-based compensation; and the non-GAAP measure does not reflect changes in, or cash requirements for, working capital needs; other companies, including companies in electroCore’s industry, may calculate adjusted EBITDA net loss differently, which reduces its usefulness as a comparative measure.
Because of these and other limitations, you should consider the non-GAAP measure together with other GAAP-based financial performance measures, including various cash flow metrics, net loss, and other GAAP results. A reconciliation of GAAP net loss to non-GAAP adjusted EBITDA net loss has been provided in the preceding financial statements table of this press release.
$ECOR electroCore Announces Third Quarter 2023 Financial Results
Source: GlobeNewswire Inc.
electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine company and wellness company, today announced third quarter 2023 financial results and provided an operational update.
Third Quarter 2023 and Recent Highlights
Record revenue of $4.5 million, an increase of approximately 128% over third quarter 2022
Raised net proceeds of approximately $7.5 million in a registered direct public offering and concurrent private placement to institutional and accredited investors, and a separate private placement to officers and directors.
Raising revenue guidance for full year 2023 to $ 15.0 million - $15.5 million.
Third Quarter 2023 Financial Results
For the quarter ended September 30, 2023, electroCore reported net sales of $4.5 million compared to $2.0 million during the same period of 2022, which represents an approximately 128% increase over the prior year. The increase of $2.5 million is primarily due to increasing prescription revenue for our gammaCore device in the Department of Veteran Affairs and Department of Defense, an increase in prescription revenue for our gammaCore device from outside the United States, and continued revenue from the sales of our Truvaga and TAC-STIM wellness products.
(in thousands) Three months ended
September 30, %
Change Nine months ended
September 30, %
Change
Channel 2023 2022 2023 2022
Rx gammaCore – Department of Veteran Affairs and Department of Defense $ 2,737 $ 1,167 135 % $ 6,523 $ 3,597 81 %
Rx gammaCore – U.S. Commercial 439 392 12 % 1,310 1,133 16 %
Outside the United States 464 417 11 % 1,298 1,189 9 %
Truvaga 267 — — 704 — —
TAC-STIM 601 — — 1,000 — —
Other — — — 4 113 -96 %
$ 4,508 $ 1,976 128 % $ 10,839 $ 6,032 80 %
Gross profit for the third quarter of 2023 was $3.8 million as compared to $1.7 million for the third quarter of 2022. Gross margin for the third quarter of 2023 was 85% as compared to 87% in the third quarter of 2022.
Total operating expenses in the third quarter of 2023 were approximately $8.0 million as compared to $7.3 million in the third quarter of 2022.
Research and development expense in the third quarter of 2023 was $1.2 million as compared to $1.6 million in the third quarter of 2022. This decrease in research and development expense was due to a decrease in compensation associated with cost cutting measures offset by investments in product development for the next generation of the Company’s non-invasive nerve stimulators.
Selling, general and administrative expense in the third quarter of 2023 was $6.7 million as compared to $5.7 million in the third quarter of 2022. This increase was primarily due to greater variable selling and marketing costs consistent with the increase in net sales.
GAAP net loss in the third quarter of 2023 was $4.0 million compared to the $5.5 million net loss in the third quarter of 2022.
Adjusted EBITDA net loss in the third quarter of 2023 was $3.0 million as compared to a net loss of $4.8 million in the third quarter of 2022.
The Company defines adjusted EBITDA net loss as GAAP net loss, adjusted to exclude non-operating gains/losses, depreciation and amortization, stock-based compensation expense, severance and other related charges, inventory reserve charges, severance and other related charges, legal fees associated with stockholders’ litigation, and benefit from income taxes. A reconciliation of GAAP net loss to non-GAAP adjusted EBITDA net loss has been provided in the financial statement tables included in the press release.
Cash, cash equivalents and restricted cash at September 30, 2023 totaled approximately $13.7 million, as compared to approximately $18.0 million as of December 31, 2022. In July 2023, the Company raised net proceeds of approximately $7.5 million through a registered direct offering and concurrent private placements priced “at the market” under Nasdaq rules.
Full Year 2023 Outlook
The Company is increasing its revenue guidance for the year ending December 31, 2023 to be $15.0 million - $15.5 million, as compared to its previous guidance of $14.0 million - $15.0 million.
Webcast and Conference Call Information
electroCore’s management team will host a conference call today, November 8, 2023, beginning at 4:30 PM EST.
Investors interested in listening to the conference call, or webcast may dial 877-407-8835 for domestic callers or 201-689-8779 for international callers, using Conference ID: 13739200, or by connecting to the Web: electroCore Earnings Webcast. An archived webcast of the event will be available on the “Investors” section of the company’s website at: www.electrocore.com.
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.
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 for 2023 and beyond, 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 Truvaga wellness and TAC-STIM human performance 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 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
electroCore, Inc.
Condensed Consolidated Statements of Operations
(unaudited)
(in thousands, except per share data)
Three months ended Nine months ended
September 30, September 30,
2023 2022 2023 2022
Net sales $ 4,508 $ 1,976 $ 10,839 $ 6,032
Cost of goods sold 661 258 1,704 976
Gross profit 3,847 1,718 9,135 5,056
Operating expenses
Research and development 1,249 1,617 4,213 3,892
Selling, general and administrative 6,724 5,657 20,233 18,121
Total operating expenses 7,973 7,274 24,446 22,013
Loss from operations (4,126 ) (5,556 ) (15,311 ) (16,957 )
Other (income) expense
Interest and other income (94 ) (103 ) (298 ) (145 )
Other expense — — — 5
Total other (income) expense (94 ) (103 ) (298 ) (140 )
Loss before income taxes (4,032 ) (5,453 ) (15,013 ) (16,817 )
Benefit from income taxes — — 211 445
Net loss $ (4,032 ) $ (5,453 ) $ (14,802 ) $ (16,372 )
Net loss per share of common stock - Basic and Diluted $ (0.68 ) $ (1.20 ) $ (2.87 ) $ (3.45 )
Weighted average common shares outstanding - Basic and Diluted 5,945 4,544 5,149 4,746
electroCore, Inc.
Condensed Consolidated Balance Sheet Information
(unaudited)
(in thousands)
September 30,
2023 December 31,
2022
Cash and cash equivalents $ 13,460 $ 17,712
Restricted cash $ 250 $ 250
Total assets $ 20,108 $ 24,756
Current liabilities $ 8,508 $ 7,045
Total liabilities $ 9,068 $ 7,670
Total equity $ 11,040 $ 17,086
(Unaudited) Use of Non-GAAP Financial Measure
The Company is presenting adjusted EBITDA net loss because it believes this measure is a useful indicator of its operating performance. electroCore management uses this non-GAAP measure principally as a measure of the company’s core operating performance and believes that this measure is useful to investors because it is frequently used by the financial community, investors, and other interested parties to evaluate companies in the company’s industry. The Company also believes that this measure is useful to its management and investors as a measure of comparative operating performance from period to period. Additionally, the company believes its use of non-GAAP adjusted EBITDA net loss from operations facilitates management’s internal comparisons to historical operating results by factoring out potential differences caused by gains and charges not related to its regular, ongoing business, including, without limitation, non-cash charges and certain large and unpredictable charges such as restructuring expenses.
The Company defines adjusted EBITDA net loss as GAAP net loss, adjusted to exclude non-operating gains/losses, depreciation and amortization, stock-based compensation expense, severance and other related charges, inventory reserve charges, legal fees associated with stockholders’ litigation, and benefit from income taxes.
Following is a reconciliation of GAAP net loss to non-GAAP adjusted EBITDA net loss (in thousands):
Three months ended Nine months ended
September 30, September 30,
2023 2022 2023 2022
GAAP net loss $ (4,032 ) $ (5,453 ) $ (14,802 ) $ (16,372 )
Depreciation and amortization 291 153 735 400
Stock-based compensation 543 566 1,298 2,095
Inventory reserve charge 193 — 258 —
Severance and other related charges 113 — 445 —
Legal fees associated with stockholders' litigation 7 17 42 149
Interest and other (income) expense (94 ) (103 ) (298 ) (140 )
Benefit from income taxes — — (211 ) (445 )
Adjusted EBITDA net loss $ (2,979 ) $ (4,820 ) $ (12,533 ) $ (14,313 )
The Company’s use of a non-GAAP measure has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of its results as reported under GAAP. Some of these limitations are: the non-GAAP measure does not reflect interest or tax payments that may represent a reduction in cash available; although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and the non-GAAP measure does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements; the non-GAAP measure does not reflect the potentially dilutive impact of equity-based compensation; and the non-GAAP measure does not reflect changes in, or cash requirements for, working capital needs; other companies, including companies in electroCore’s industry, may calculate adjusted EBITDA net loss differently, which reduces its usefulness as a comparative measure.
Because of these and other limitations, you should consider the non-GAAP measure together with other GAAP-based financial performance measures, including various cash flow metrics, net loss, and other GAAP results. A reconciliation of GAAP net loss to non-GAAP adjusted EBITDA net loss has been provided in the preceding financial statements table of this press release.
Financial release next week. Maybe it will have another move
$ECOR Data Highlighting Non-invasive Vagus Nerve Stimulation (nVNS) for Treatment of Symptoms of Gastroparesis Presented at 2023 American College of Gastroenterology Annual Meeting
https://finance.yahoo.com/news/data-highlighting-non-invasive-vagus-120000266.html
$ECOR Data Highlighting Non-invasive Vagus Nerve Stimulation (nVNS) for Treatment of Symptoms of Gastroparesis Presented at 2023 American College of Gastroenterology Annual Meeting
https://finance.yahoo.com/news/data-highlighting-non-invasive-vagus-120000266.html
I like $SING
$ECOR electroCore Announces Two-Year Extension of gammaCore™ Device Listing in the NHS Supply Chain Catalogue
Source: GlobeNewswire Inc.
electroCore, Inc. (Nasdaq: ECOR), a commercial stage bioelectronic medicine and wellness company, announced today that gammaCore therapy will continue to be listed in the United Kingdom’s National Health Service (NHS) Supply Chain catalogue for an additional two years through March 17, 2026. The listing, which commenced on June 4, 2019, was scheduled to terminate on March 18, 2024.
“We are delighted the NHS Supply Chain intends to continue to include the gammaCore device within their framework agreement, commencing March 2024 through March 2026 with an option to extend for a further 2 years,” stated Mitch DeShon, Vice President of Global Sales & Business Development at electroCore. “Inclusion in this catalogue helps ensure gammaCore therapy is broadly accessible to patients across the UK who may benefit from non-invasive vagus nerve stimulation and adds increased validation to the benefits realized by patients in the UK using gammaCore therapy.”
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 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 business, operating or financial impact of such studies; the commercial potential of nVNS generally and gammaCore in particular in the UK 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 Announces Two-Year Extension of gammaCore™ Device Listing in the NHS Supply Chain Catalogue
Source: GlobeNewswire Inc.
electroCore, Inc. (Nasdaq: ECOR), a commercial stage bioelectronic medicine and wellness company, announced today that gammaCore therapy will continue to be listed in the United Kingdom’s National Health Service (NHS) Supply Chain catalogue for an additional two years through March 17, 2026. The listing, which commenced on June 4, 2019, was scheduled to terminate on March 18, 2024.
“We are delighted the NHS Supply Chain intends to continue to include the gammaCore device within their framework agreement, commencing March 2024 through March 2026 with an option to extend for a further 2 years,” stated Mitch DeShon, Vice President of Global Sales & Business Development at electroCore. “Inclusion in this catalogue helps ensure gammaCore therapy is broadly accessible to patients across the UK who may benefit from non-invasive vagus nerve stimulation and adds increased validation to the benefits realized by patients in the UK using gammaCore therapy.”
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 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 business, operating or financial impact of such studies; the commercial potential of nVNS generally and gammaCore in particular in the UK 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 Expands Intellectual Property Portfolio for Non-Invasive Vagus Nerve Stimulation (nVNS) Technology
Source: GlobeNewswire Inc.
electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine and wellness company, today announced the United States Patent and Trademark Office has issued a patent related to a treatment protocol for nVNS.
U.S. Patent No. 11,779,756 entitled “Systems and Methods for Vagal Nerve Stimulation” was issued on October 10, 2023, and is generally related to a preferable treatment paradigm for nVNS that involves applying a single dose of stimulation for about 90 seconds to about 150 seconds, 2-4 times during a 24-hour period.
“Our intellectual property portfolio continues to grow,” stated Dan Goldberger, Chief Executive Officer of electroCore. “This new patent strengthens our position around the application of non-invasive vagus nerve stimulation, and how frequently nVNS may be used by a patient or customer looking for relief.”
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 including potential commercial applications of nVNS and treatment paradigms; its pipeline or potential markets for its technologies; the timing, outcome and impact of regulatory, clinical and commercial developments; the issuance of U.S. and international patents, including patents related to non-invasive nerve stimulation with mobile devices, providing expanded IP coverage; the possibility of future business models, the potential of nVNS generally and gammaCore in particular and other statements that are not historical in nature, particularly those that utilize 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 gammaCore™, competition in the industry in which electroCore operates and general market conditions. 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
$ECOR electroCore Expands Intellectual Property Portfolio for Non-Invasive Vagus Nerve Stimulation (nVNS) Technology
Source: GlobeNewswire Inc.
electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine and wellness company, today announced the United States Patent and Trademark Office has issued a patent related to a treatment protocol for nVNS.
U.S. Patent No. 11,779,756 entitled “Systems and Methods for Vagal Nerve Stimulation” was issued on October 10, 2023, and is generally related to a preferable treatment paradigm for nVNS that involves applying a single dose of stimulation for about 90 seconds to about 150 seconds, 2-4 times during a 24-hour period.
“Our intellectual property portfolio continues to grow,” stated Dan Goldberger, Chief Executive Officer of electroCore. “This new patent strengthens our position around the application of non-invasive vagus nerve stimulation, and how frequently nVNS may be used by a patient or customer looking for relief.”
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 including potential commercial applications of nVNS and treatment paradigms; its pipeline or potential markets for its technologies; the timing, outcome and impact of regulatory, clinical and commercial developments; the issuance of U.S. and international patents, including patents related to non-invasive nerve stimulation with mobile devices, providing expanded IP coverage; the possibility of future business models, the potential of nVNS generally and gammaCore in particular and other statements that are not historical in nature, particularly those that utilize 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 gammaCore™, competition in the industry in which electroCore operates and general market conditions. 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
$ECOR Data Highlighting Non-Invasive Vagus Nerve Stimulation (nVNS) for Treatment of Acute Neurological Injury Presented at 2023 World Stroke Congress
Source: GlobeNewswire Inc.
electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine and wellness company, today announced top line data from two abstracts being presented at the 15th World Stroke Congress held October 10-12, 2023, in Toronto, Canada on the possible role of nVNS in the treatment of acute neurological injuries.
The nVNS research presented at the 2023 World Stroke Congress covers two recently completed trials as follows:
1. Non-Invasive Vagus Nerve Stimulation Is Safe and Efficacious In The Treatment Of Headache Associated With Subarachnoid Hemorrhage (VANQUISH)
In this study conducted at Northwell Health in New York, there was a significant reduction in the overall pain score with a therapeutic gain of - 0.5 points in favor of nVNS. (P<0.005). There was a 14% decrease in the Average Morphine Equivalent Dosage after two weeks of treatment as well as a trend towards a 3 day decrease in average hospital stay (p = 0.14) that did not reach significance, possibly due to the size of the study.
Dr. Tania Rebeiz, the primary investigator of the VANQUISH study and Assistant Professor, Donald and Barbara Zucker School of Medicine at Hofstra/Northwell commented, “We are pleased to have successfully completed this first trial of nVNS as a possible treatment for the acute treatment of Subarachnoid Hemorrhage. Our data suggests that nVNS is safe and effective in reducing pain and potentially the use of other acute pain medications, including opioids in the immediate aftermath of a SAH. The potential for nVNS to help decrease the overall length of the hospital stay after SAH could offer significant patient and health care benefits.”
Subarachnoid hemorrhage (SAH) is a devastating condition, most commonly due to trauma and aneurysm rupture, and carries significant mortality and morbidity. About half of the survivors are left with some disability. Some of the known complications are aneurysm re-rupture, seizures, central fever, delayed cerebral ischemia (DCI), headache and hydrocephalus.
2. Non-invasive Vagus Nerve Stimulation in Acute Ischemic Stroke (NOVIS)
NOVIS is a prospective randomized clinical trial with blinded outcome assessment being conducted at the Leiden University Medical Center (Leiden, The Netherlands). 150 patients with ischemic stroke are being randomly allocated (1:1) to nVNS for five days in addition to standard treatment versus standard treatment alone. The primary endpoint is the final infarct volume on day five as assessed with MRI. Dr. Anne van der Meij, from the Leiden University Medical Center, who is presenting the poster at the World Stroke Congress commented, “Our study will complete enrollment before the end of 2023 and our efficacy endpoints should provide greater definition, and possibly confirmation, of the efficacy of nVNS for the acute treatment of ischemic stroke.”
Stroke is ranked as the second leading cause of death worldwide with an annual mortality rate of about 5.5 million. The burden of stroke lies not only in its high mortality rate, but in the high morbidity rate as well with up to 50% of stroke survivors being chronically disabled.
Peter Staats, MD, Chief Medical Officer for electroCore, commented, “We congratulate all the investigators, patients and sites that supported this research into the role of nVNS as an acute treatment for SAH and Ischemic Stroke. The strong mechanistic rational for nVNS as a potentially neuroprotective and anti-inflammatory treatment for acute neurological injury is further supported by this data showing the continued efficacy of nVNS for the treatment of pain. The ability of nVNS to potentially decrease the daily use of other acute pain medications and potentially even shorten the length of the hospital stay after a SAH is very exciting.”
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 including potential commercial applications of gammaCore and nVNS for treatment of headache and pain associated with Subarachnoid Hemorrhage and the acute treatment of ischemic stroke; its pipeline or potential markets for its technologies; the timing, outcome and impact of regulatory, clinical and commercial developments; the issuance of U.S. and international patents, including patents related to non-invasive nerve stimulation with mobile devices, providing expanded IP coverage; the possibility of future business models, the potential of nVNS generally and gammaCore in particular and other statements that are not historical in nature, particularly those that utilize 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 gammaCore™, competition in the industry in which electroCore operates and general market conditions. 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 Data Highlighting Non-Invasive Vagus Nerve Stimulation (nVNS) for Treatment of Acute Neurological Injury Presented at 2023 World Stroke Congress
Source: GlobeNewswire Inc.
electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine and wellness company, today announced top line data from two abstracts being presented at the 15th World Stroke Congress held October 10-12, 2023, in Toronto, Canada on the possible role of nVNS in the treatment of acute neurological injuries.
The nVNS research presented at the 2023 World Stroke Congress covers two recently completed trials as follows:
1. Non-Invasive Vagus Nerve Stimulation Is Safe and Efficacious In The Treatment Of Headache Associated With Subarachnoid Hemorrhage (VANQUISH)
In this study conducted at Northwell Health in New York, there was a significant reduction in the overall pain score with a therapeutic gain of - 0.5 points in favor of nVNS. (P<0.005). There was a 14% decrease in the Average Morphine Equivalent Dosage after two weeks of treatment as well as a trend towards a 3 day decrease in average hospital stay (p = 0.14) that did not reach significance, possibly due to the size of the study.
Dr. Tania Rebeiz, the primary investigator of the VANQUISH study and Assistant Professor, Donald and Barbara Zucker School of Medicine at Hofstra/Northwell commented, “We are pleased to have successfully completed this first trial of nVNS as a possible treatment for the acute treatment of Subarachnoid Hemorrhage. Our data suggests that nVNS is safe and effective in reducing pain and potentially the use of other acute pain medications, including opioids in the immediate aftermath of a SAH. The potential for nVNS to help decrease the overall length of the hospital stay after SAH could offer significant patient and health care benefits.”
Subarachnoid hemorrhage (SAH) is a devastating condition, most commonly due to trauma and aneurysm rupture, and carries significant mortality and morbidity. About half of the survivors are left with some disability. Some of the known complications are aneurysm re-rupture, seizures, central fever, delayed cerebral ischemia (DCI), headache and hydrocephalus.
2. Non-invasive Vagus Nerve Stimulation in Acute Ischemic Stroke (NOVIS)
NOVIS is a prospective randomized clinical trial with blinded outcome assessment being conducted at the Leiden University Medical Center (Leiden, The Netherlands). 150 patients with ischemic stroke are being randomly allocated (1:1) to nVNS for five days in addition to standard treatment versus standard treatment alone. The primary endpoint is the final infarct volume on day five as assessed with MRI. Dr. Anne van der Meij, from the Leiden University Medical Center, who is presenting the poster at the World Stroke Congress commented, “Our study will complete enrollment before the end of 2023 and our efficacy endpoints should provide greater definition, and possibly confirmation, of the efficacy of nVNS for the acute treatment of ischemic stroke.”
Stroke is ranked as the second leading cause of death worldwide with an annual mortality rate of about 5.5 million. The burden of stroke lies not only in its high mortality rate, but in the high morbidity rate as well with up to 50% of stroke survivors being chronically disabled.
Peter Staats, MD, Chief Medical Officer for electroCore, commented, “We congratulate all the investigators, patients and sites that supported this research into the role of nVNS as an acute treatment for SAH and Ischemic Stroke. The strong mechanistic rational for nVNS as a potentially neuroprotective and anti-inflammatory treatment for acute neurological injury is further supported by this data showing the continued efficacy of nVNS for the treatment of pain. The ability of nVNS to potentially decrease the daily use of other acute pain medications and potentially even shorten the length of the hospital stay after a SAH is very exciting.”
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 including potential commercial applications of gammaCore and nVNS for treatment of headache and pain associated with Subarachnoid Hemorrhage and the acute treatment of ischemic stroke; its pipeline or potential markets for its technologies; the timing, outcome and impact of regulatory, clinical and commercial developments; the issuance of U.S. and international patents, including patents related to non-invasive nerve stimulation with mobile devices, providing expanded IP coverage; the possibility of future business models, the potential of nVNS generally and gammaCore in particular and other statements that are not historical in nature, particularly those that utilize 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 gammaCore™, competition in the industry in which electroCore operates and general market conditions. 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
Paint job
It is a big challenge in Viet Nam as well since electric is a big major issue in Viet Nam. The government can’t provide enough electric for consumer to use
They can’t sell to the market and they are losing money big time. No one is backing up the truck
Ran away from this scam
I agreed and it will become a penny stock for sure
$ECOR good moving and maybe major news around the corner
$ECOR gammaCore Non-Invasive Vagus Nerve Stimulation (nVNS) Improves Attention and Working Memory in Patients with Post Traumatic Stress Disorder (PTSD)
Source: GlobeNewswire Inc.
electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine and wellness company, today announced the publication of two peer reviewed publications supporting the use of gammaCore (non-invasive vagal nerve stimulation; nVNS) in patients with posttraumatic stress disorder (PTSD). The first paper entitled “Effect of transcutaneous cervical vagus nerve stimulation on declarative and working memory in patients with Posttraumatic Stress Disorder (PTSD): A pilot study” was authored by Tilendra Choudhary and the second, “Transcutaneous vagal nerve stimulation modulates stress-induced plasma ghrelin levels: A double-blind, randomized, sham-controlled trial” was written by Kasra Moazzami. Both studies were conducted at Emory University and were published in the peer reviewed Journal of Affective Disorders.
The prevalence of PTSD in the United States is estimated at 10-12% in women and 5-6% in men, and the prevalence in veterans can be twice as high. PTSD is the third most common service-connected disorder in veterans and is associated with considerable morbidity and impairment in function. PTSD is associated with an increase in medical disorders and utilization of medical resources which places a significant emotional and economic burden on society. It is believed that many veterans do not seek or obtain appropriate treatment making it an important priority for the Veterans Administration (VA).
PTSD treatments, which include pharmacotherapy and psychotherapy, have many limitations for many veterans. Standard pharmaceutical treatments can have side effects and/or limited efficacy and half of veterans with PTSD drop out of psychotherapy treatments.
The study of 15 symptomatic subjects with a clinical diagnosis of PTSD suggested that transcutaneous vagus nerve stimulation (tcVNS) improves attention, and declarative and working memory, in patients with PTSD as measured by multiple endpoints. The study was conducted over the course of three months. The results show that the active group developed better attention and recall of paragraphs encoded with stimulation with a 91.4% improvement over the course of the study (p < 0.05) in paragraph recall. The study also showed a trend towards improvement in working memory tasks.1
The second study enrolled 55 subjects and the authors concluded that tcVNS could reduce the levels of ghrelin in response to various stressful stimuli. Ghrelin is a neuropeptide hypothesized to be involved in the stress response but also plays an important role in the regulation of appetite. Biomarkers that can be easily assessed can help identify likely responders to a specific therapy and are critical to improving the patient experience and decreasing health care costs. The results of this study showed that tcVNS, in conjunction with personalized traumatic scripts, resulted in lower ghrelin levels (265.2 ± 143.6 pg/ml vs 478.7 ± 349.2 pg/ml, P = 0.01). Additionally, after completing the public speaking and mental arithmetic tests, ghrelin levels were found to be lower in the group receiving tcVNS (293.3 ± 102.4 pg/ml vs 540.3 ± 203.9 pg/ml, P = 0.009).2 Ghrelin may be involved in behaviors like stress-induced over-eating, suggesting future avenues of research into the potential for nVNS in the treatment of obesity and possibly stress-induced eating disorders.
The senior co-author of both papers, Dr. Douglas Bremner, Professor of Psychiatry and Behavioral Sciences at Emory University and a Staff Physician at the Atlanta VA Medical Center, commented, “These two studies add to the growing body of evidence that tcVNS represents a promising new treatment for PTSD.” Dr. Bremner continued, “The identification of a possible biomarker that can be measured in plasma, with the demonstration of a marked improvement in memory after a stressful trigger, is an exciting advance for both clinicians and, most importantly, patients suffering from PTSD.”
Peter Staats, MD, Chief Medical Officer of electroCore, commented, “The impact of PTSD on millions of Americans including current warfighters and our Veterans is well understood. We desperately need new, safe, non-drug options and the data continues to suggest that gammaCore is a possible option. We thank Professors Bremner and Inan and their teams at Emory University, The Georgia Institute of Technology and the Atlanta VA for their tireless efforts to help their patients with PTSD.”
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 including potential commercial applications of gammaCore and nVNS for improved attention and declarative and working memory in patients with PTSD as well as their effect on stress-induced levels of ghrelin; its pipeline or potential markets for its technologies; the timing, outcome and impact of regulatory, clinical and commercial developments; the issuance of U.S. and international patents, including patents related to non-invasive nerve stimulation with mobile devices, providing expanded IP coverage; the possibility of future business models, the potential of nVNS generally and gammaCore in particular and other statements that are not historical in nature, particularly those that utilize 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 gammaCore™, competition in the industry in which electroCore operates and general market conditions. 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
________________
1 Choudhary T, Elliott M, Euliano NR, Gurel NZ, Rivas AG, Wittbrodt MT, Vaccarino V, Shah AJ, Inan OT, Bremner JD. Effect of transcutaneous cervical vagus nerve stimulation on declarative and working memory in patients with Posttraumatic Stress Disorder (PTSD): A pilot study. J Affect Disord. 2023 Oct 15;339:418-425. doi: 10.1016/j.jad.2023.07.025. Epub 2023 Jul 12. PMID: 37442455.
2 Moazzami K, Pearce BD, Gurel NZ, Wittbrodt MT, Levantsevych OM, Huang M, Shandhi MMH, Herring I, Murrah N, Driggers E, Alkhalaf ML, Soudan M, Shallenberger L, Hankus AN, Nye JA, Vaccarino V, Shah AJ, Inan OT, Bremner JD. Transcutaneous vagal nerve stimulation modulates stress-induced plasma ghrelin levels: A double-blind, randomized, sham-controlled trial. J Affect Disord. 2023 Sep 14;342:85-90. doi: 10.1016/j.jad.2023.09.015. Epub ahead of print. PMID: 37714385.
Primary Logo
$ECOR gammaCore Non-Invasive Vagus Nerve Stimulation (nVNS) Improves Attention and Working Memory in Patients with Post Traumatic Stress Disorder (PTSD)
Source: GlobeNewswire Inc.
electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine and wellness company, today announced the publication of two peer reviewed publications supporting the use of gammaCore (non-invasive vagal nerve stimulation; nVNS) in patients with posttraumatic stress disorder (PTSD). The first paper entitled “Effect of transcutaneous cervical vagus nerve stimulation on declarative and working memory in patients with Posttraumatic Stress Disorder (PTSD): A pilot study” was authored by Tilendra Choudhary and the second, “Transcutaneous vagal nerve stimulation modulates stress-induced plasma ghrelin levels: A double-blind, randomized, sham-controlled trial” was written by Kasra Moazzami. Both studies were conducted at Emory University and were published in the peer reviewed Journal of Affective Disorders.
The prevalence of PTSD in the United States is estimated at 10-12% in women and 5-6% in men, and the prevalence in veterans can be twice as high. PTSD is the third most common service-connected disorder in veterans and is associated with considerable morbidity and impairment in function. PTSD is associated with an increase in medical disorders and utilization of medical resources which places a significant emotional and economic burden on society. It is believed that many veterans do not seek or obtain appropriate treatment making it an important priority for the Veterans Administration (VA).
PTSD treatments, which include pharmacotherapy and psychotherapy, have many limitations for many veterans. Standard pharmaceutical treatments can have side effects and/or limited efficacy and half of veterans with PTSD drop out of psychotherapy treatments.
The study of 15 symptomatic subjects with a clinical diagnosis of PTSD suggested that transcutaneous vagus nerve stimulation (tcVNS) improves attention, and declarative and working memory, in patients with PTSD as measured by multiple endpoints. The study was conducted over the course of three months. The results show that the active group developed better attention and recall of paragraphs encoded with stimulation with a 91.4% improvement over the course of the study (p < 0.05) in paragraph recall. The study also showed a trend towards improvement in working memory tasks.1
The second study enrolled 55 subjects and the authors concluded that tcVNS could reduce the levels of ghrelin in response to various stressful stimuli. Ghrelin is a neuropeptide hypothesized to be involved in the stress response but also plays an important role in the regulation of appetite. Biomarkers that can be easily assessed can help identify likely responders to a specific therapy and are critical to improving the patient experience and decreasing health care costs. The results of this study showed that tcVNS, in conjunction with personalized traumatic scripts, resulted in lower ghrelin levels (265.2 ± 143.6 pg/ml vs 478.7 ± 349.2 pg/ml, P = 0.01). Additionally, after completing the public speaking and mental arithmetic tests, ghrelin levels were found to be lower in the group receiving tcVNS (293.3 ± 102.4 pg/ml vs 540.3 ± 203.9 pg/ml, P = 0.009).2 Ghrelin may be involved in behaviors like stress-induced over-eating, suggesting future avenues of research into the potential for nVNS in the treatment of obesity and possibly stress-induced eating disorders.
The senior co-author of both papers, Dr. Douglas Bremner, Professor of Psychiatry and Behavioral Sciences at Emory University and a Staff Physician at the Atlanta VA Medical Center, commented, “These two studies add to the growing body of evidence that tcVNS represents a promising new treatment for PTSD.” Dr. Bremner continued, “The identification of a possible biomarker that can be measured in plasma, with the demonstration of a marked improvement in memory after a stressful trigger, is an exciting advance for both clinicians and, most importantly, patients suffering from PTSD.”
Peter Staats, MD, Chief Medical Officer of electroCore, commented, “The impact of PTSD on millions of Americans including current warfighters and our Veterans is well understood. We desperately need new, safe, non-drug options and the data continues to suggest that gammaCore is a possible option. We thank Professors Bremner and Inan and their teams at Emory University, The Georgia Institute of Technology and the Atlanta VA for their tireless efforts to help their patients with PTSD.”
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 including potential commercial applications of gammaCore and nVNS for improved attention and declarative and working memory in patients with PTSD as well as their effect on stress-induced levels of ghrelin; its pipeline or potential markets for its technologies; the timing, outcome and impact of regulatory, clinical and commercial developments; the issuance of U.S. and international patents, including patents related to non-invasive nerve stimulation with mobile devices, providing expanded IP coverage; the possibility of future business models, the potential of nVNS generally and gammaCore in particular and other statements that are not historical in nature, particularly those that utilize 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 gammaCore™, competition in the industry in which electroCore operates and general market conditions. 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
________________
1 Choudhary T, Elliott M, Euliano NR, Gurel NZ, Rivas AG, Wittbrodt MT, Vaccarino V, Shah AJ, Inan OT, Bremner JD. Effect of transcutaneous cervical vagus nerve stimulation on declarative and working memory in patients with Posttraumatic Stress Disorder (PTSD): A pilot study. J Affect Disord. 2023 Oct 15;339:418-425. doi: 10.1016/j.jad.2023.07.025. Epub 2023 Jul 12. PMID: 37442455.
2 Moazzami K, Pearce BD, Gurel NZ, Wittbrodt MT, Levantsevych OM, Huang M, Shandhi MMH, Herring I, Murrah N, Driggers E, Alkhalaf ML, Soudan M, Shallenberger L, Hankus AN, Nye JA, Vaccarino V, Shah AJ, Inan OT, Bremner JD. Transcutaneous vagal nerve stimulation modulates stress-induced plasma ghrelin levels: A double-blind, randomized, sham-controlled trial. J Affect Disord. 2023 Sep 14;342:85-90. doi: 10.1016/j.jad.2023.09.015. Epub ahead of print. PMID: 37714385.
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electroCore to Present at iAccess Alpha’s – Top 10 Best Ideas from the Buyside Virtual Conference
$2 is coming
They has zero product and just a shell to sale shares to uneducated people
Good job
Too risky and it will be below $10 soon
Nope….it will be less than $10
Getting worse that’s all I can tell
Thanks for sharing
Still a good one to hold
Evening Mick