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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
Happy Belated Father’s Day
Wanna see the screen shot
Thank you
$MULN I am in at $.205
I am in today at $.205…..bargain price and should be move from here
Go $MULN
Heading to Hawaii this week
Long term investment still good
They both are after their money for sure
Let me know if it is worth $105,000
Gonna be selling my ‘65 Big Block convertible. Numbers matching car. Will be asking $115 K, if interested I have more pics. All numbers matching, Milano Maroon, 396 425 HP, 4 spd Muncie, 411 rear end, original side pipes (confirmed on copy of original factory sticker) white rag top, removable hard top. I live in Montgomery, TX.
Getting hit up
Is this scam one still survive? When are they get delist?
I am still holding this one
Good morning Mick
$ECOR National Institutes of Health Awards Grant for Pivotal Clinical Trial of gammaCore™ (nVNS) in Patients with Opioid Use Disorders
Source: GlobeNewswire Inc.
electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine and wellness company, today announced that the National Institute on Drug Abuse (NIDA), part of the National Institutes of Health (NIH), has awarded Emory University and the Georgia Institute of Technology a 3-year, $6.0 million grant through the NIH Helping to End Addiction Long Term (HEAL) Initiative to conduct a pivotal clinical trial of gammaCore (non-invasive vagus nerve stimulator; nVNS) for the treatment of opioid use disorder (OUD).
Opioid use disorder represents a national crisis with devastating consequences. Deaths from overdoses of opioids increased 8.5 fold from 1999 to 20201 making opioid overdose, including overdose involving prescription opioids and opioid-like synthetics like OxyContin and Percocet, as well as heroin and other illegal opioid substances like fentanyl, the leading cause of accidental death in the United States.2 Recurrent stress and exposure to triggers of traumatic memories in everyday life are a common precipitator of relapse in patients with OUD3,4 especially for women misusing prescription opioids.5
The double-blind, randomized, sham-controlled study is based on the successful completion and publication of a pilot study that showed that gammaCore nVNS reduced both the psychological and physiological symptoms of acute opioid withdrawal.6 The study to be funded by the grant will recruit approximately 100 patients with OUD. The primary efficacy endpoint of this study will be peak difference in the Subjective Opioid Withdrawal Score (SOWS) between nVNS and sham treatment on day 2 and 3 of the initial withdrawal period.
Dr. Douglas Bremner, Professor of Psychiatry and Radiology at Emory University School of Medicine and a principal investigator for the study commented, “We are pleased to be able to proceed with a pivotal trial to define the role of nVNS as a potential treatment for opioid use disorder. While treatments exist to help patients initiate and maintain opioid withdrawal programs, more effective options are needed.” Dr. Omer Inan, Professor and Linda J. and Mark C. Smith Chair in Bioscience and Bioengineering in the Georgia Tech School of Electrical and Computer Engineering, and co-principal investigator on the study added, “As a non-invasive, nonpharmacological therapy that poses minimal risk and is amenable to self-administration, nVNS represents a potentially valuable treatment for OUD.”
“We applaud the effort and leadership of Dr. Bremner, Dr. Inan, and their clinical and research teams at Emory University and the Georgia Institute of Technology, as well Dr. Volkow and her team at NIDA for their support of this grant,” said Peter Staats, MD, Chief Medical Officer at electroCore. “The personal, family and financial costs of opioid addiction represent an ongoing crisis in America and nVNS could offer a safe, effective and novel way to help patients through the critical initial phase of withdrawal thereby saving them pain and distress while also saving the healthcare system significant expense.”
About NIDA Grant
This work is supported by the NIH HEAL Initiative through the National Institute on Drug Abuse under award number UH3DA048502. The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health.
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 (nVNS) is FDA cleared in the United States for adjunctive use for the preventive treatment of cluster headache in adult patients, the acute treatment of pain associated with episodic cluster headache in adult patients, and the acute and preventive treatment of migraine in adolescent (ages 12 and older) and adult patients, and paroxysmal hemicrania and hemicrania continua in adult patients. gammaCore is CE-marked in the European Union for the acute and/or prophylactic treatment of primary headache (Migraine, Cluster Headache, Trigeminal Autonomic Cephalalgias and Hemicrania Continua) and Medication Overuse Headache in adults.
gammaCore is contraindicated for patients if they:
Have an active implantable medical device, such as a pacemaker, hearing aid implant, or any implanted electronic device
Have a metallic device, such as a stent, bone plate, or bone screw, implanted at or near the neck
Are using another device at the same time (e.g., TENS Unit, muscle stimulator) or any portable electronic device (e.g., mobile phone)
Safety and efficacy of gammaCore have not been evaluated in the following patients:
Adolescent patients with congenital cardiac issues
Patients diagnosed with narrowing of the arteries (carotid atherosclerosis)
Patients who have had surgery to cut the vagus nerve in the neck (cervical vagotomy)
Pediatric patients (less than 12 years)
Pregnant women
Patients with clinically significant hypertension, hypotension, bradycardia, or tachycardia
For more information, please visit gammaCore.com
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 investigator-initiated trials, anticipated results and timing of clinical trials being conducted with gammeCore (nVNS), 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 in particular to treat the symptoms of acute withdrawal in patients with OUD, 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 gammaCore™, 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:
Rich Cockrell
CG Capital
404-736-3838
ecor@cg.capital
1 https://nida.nih.gov/research-topics/trends-statistics/overdose-death-rates
2 Prevention CfDCa. Drug Overdose Death Data. 2017;2018.
3 Wittenauer Welsh J, Knight JR, Hou SS-Y, Malowney M and Boyd JW. Association between substance
use diagnoses and psychiatric disorders in an adolescent and young adult clinic-based population. J
Adolesc Health. 2017;60:648-652.
4 Saal D, Dong Y, Bonci A and Malenka RC. Drugs of abuse and stress trigger a common synaptic
adaptation in dopamine neurons. Neuron. 2003;37:577-582.
5 Back SE, Lawson K, Singleton L and Brady KT. Characteristics and correlates of men and women with
prescription opioid dependence. Addict Behav. 2011;36:829-834.
6 Gazi AH, Harrison AB, Lambert TP, Obideen M, Alavi P, Murrah N, Shallenberger L, Driggers EG, Ortega RA, Washington BP, Walton KM, Welsh JW, Vaccarino V, Shah AJ, Tang YL, Gupta R, Back SE, Inan OT, Bremner JD. Transcutaneous cervical vagus nerve stimulation reduces behavioral and physiological manifestations of withdrawal in patients with opioid use disorder: A double-blind, randomized, sham-controlled pilot study. Brain Stimul. 2022 Sep-Oct;15(5):1206-1214. doi: 10.1016/j.brs.2022.08.017.
$ECOR National Institutes of Health Awards Grant for Pivotal Clinical Trial of gammaCore™ (nVNS) in Patients with Opioid Use Disorders
Source: GlobeNewswire Inc.
electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine and wellness company, today announced that the National Institute on Drug Abuse (NIDA), part of the National Institutes of Health (NIH), has awarded Emory University and the Georgia Institute of Technology a 3-year, $6.0 million grant through the NIH Helping to End Addiction Long Term (HEAL) Initiative to conduct a pivotal clinical trial of gammaCore (non-invasive vagus nerve stimulator; nVNS) for the treatment of opioid use disorder (OUD).
Opioid use disorder represents a national crisis with devastating consequences. Deaths from overdoses of opioids increased 8.5 fold from 1999 to 20201 making opioid overdose, including overdose involving prescription opioids and opioid-like synthetics like OxyContin and Percocet, as well as heroin and other illegal opioid substances like fentanyl, the leading cause of accidental death in the United States.2 Recurrent stress and exposure to triggers of traumatic memories in everyday life are a common precipitator of relapse in patients with OUD3,4 especially for women misusing prescription opioids.5
The double-blind, randomized, sham-controlled study is based on the successful completion and publication of a pilot study that showed that gammaCore nVNS reduced both the psychological and physiological symptoms of acute opioid withdrawal.6 The study to be funded by the grant will recruit approximately 100 patients with OUD. The primary efficacy endpoint of this study will be peak difference in the Subjective Opioid Withdrawal Score (SOWS) between nVNS and sham treatment on day 2 and 3 of the initial withdrawal period.
Dr. Douglas Bremner, Professor of Psychiatry and Radiology at Emory University School of Medicine and a principal investigator for the study commented, “We are pleased to be able to proceed with a pivotal trial to define the role of nVNS as a potential treatment for opioid use disorder. While treatments exist to help patients initiate and maintain opioid withdrawal programs, more effective options are needed.” Dr. Omer Inan, Professor and Linda J. and Mark C. Smith Chair in Bioscience and Bioengineering in the Georgia Tech School of Electrical and Computer Engineering, and co-principal investigator on the study added, “As a non-invasive, nonpharmacological therapy that poses minimal risk and is amenable to self-administration, nVNS represents a potentially valuable treatment for OUD.”
“We applaud the effort and leadership of Dr. Bremner, Dr. Inan, and their clinical and research teams at Emory University and the Georgia Institute of Technology, as well Dr. Volkow and her team at NIDA for their support of this grant,” said Peter Staats, MD, Chief Medical Officer at electroCore. “The personal, family and financial costs of opioid addiction represent an ongoing crisis in America and nVNS could offer a safe, effective and novel way to help patients through the critical initial phase of withdrawal thereby saving them pain and distress while also saving the healthcare system significant expense.”
About NIDA Grant
This work is supported by the NIH HEAL Initiative through the National Institute on Drug Abuse under award number UH3DA048502. The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health.
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 (nVNS) is FDA cleared in the United States for adjunctive use for the preventive treatment of cluster headache in adult patients, the acute treatment of pain associated with episodic cluster headache in adult patients, and the acute and preventive treatment of migraine in adolescent (ages 12 and older) and adult patients, and paroxysmal hemicrania and hemicrania continua in adult patients. gammaCore is CE-marked in the European Union for the acute and/or prophylactic treatment of primary headache (Migraine, Cluster Headache, Trigeminal Autonomic Cephalalgias and Hemicrania Continua) and Medication Overuse Headache in adults.
gammaCore is contraindicated for patients if they:
Have an active implantable medical device, such as a pacemaker, hearing aid implant, or any implanted electronic device
Have a metallic device, such as a stent, bone plate, or bone screw, implanted at or near the neck
Are using another device at the same time (e.g., TENS Unit, muscle stimulator) or any portable electronic device (e.g., mobile phone)
Safety and efficacy of gammaCore have not been evaluated in the following patients:
Adolescent patients with congenital cardiac issues
Patients diagnosed with narrowing of the arteries (carotid atherosclerosis)
Patients who have had surgery to cut the vagus nerve in the neck (cervical vagotomy)
Pediatric patients (less than 12 years)
Pregnant women
Patients with clinically significant hypertension, hypotension, bradycardia, or tachycardia
For more information, please visit gammaCore.com
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 investigator-initiated trials, anticipated results and timing of clinical trials being conducted with gammeCore (nVNS), 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 in particular to treat the symptoms of acute withdrawal in patients with OUD, 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 gammaCore™, 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:
Rich Cockrell
CG Capital
404-736-3838
ecor@cg.capital
1 https://nida.nih.gov/research-topics/trends-statistics/overdose-death-rates
2 Prevention CfDCa. Drug Overdose Death Data. 2017;2018.
3 Wittenauer Welsh J, Knight JR, Hou SS-Y, Malowney M and Boyd JW. Association between substance
use diagnoses and psychiatric disorders in an adolescent and young adult clinic-based population. J
Adolesc Health. 2017;60:648-652.
4 Saal D, Dong Y, Bonci A and Malenka RC. Drugs of abuse and stress trigger a common synaptic
adaptation in dopamine neurons. Neuron. 2003;37:577-582.
5 Back SE, Lawson K, Singleton L and Brady KT. Characteristics and correlates of men and women with
prescription opioid dependence. Addict Behav. 2011;36:829-834.
6 Gazi AH, Harrison AB, Lambert TP, Obideen M, Alavi P, Murrah N, Shallenberger L, Driggers EG, Ortega RA, Washington BP, Walton KM, Welsh JW, Vaccarino V, Shah AJ, Tang YL, Gupta R, Back SE, Inan OT, Bremner JD. Transcutaneous cervical vagus nerve stimulation reduces behavioral and physiological manifestations of withdrawal in patients with opioid use disorder: A double-blind, randomized, sham-controlled pilot study. Brain Stimul. 2022 Sep-Oct;15(5):1206-1214. doi: 10.1016/j.brs.2022.08.017.
We are all good in the Tampa Bay area
Enjoy my little break in Florida now
$ECOR electroCore Provides Select First 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 first quarter of 2023.
Financial Guidance
Preliminary unaudited financial guidance for the first quarter of 2023:
Revenue: The Company anticipates reporting record quarterly revenue of approximately $2.8 million for the quarter ended March 31, 2023. This would represent approximately 46% growth over first quarter 2022 revenue of approximately $1.9 million.
Government Channels: For the first quarter of 2023, the Company expects to recognize record revenue of approximately $1.8 million 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 as well as revenues associated with our human performance brand, TAC-STIM™. This would represent approximately 42% revenue growth compared to approximately $1.3 million of revenue from this channel during the first quarter of 2022. 124 VA and DoD military treatment facilities have purchased gammaCore products through March 31, 2023, as compared to 117 through December 31, 2022.
Commercial: For the first quarter of 2023, the Company expects to recognize record revenue of approximately $581,000 from its U.S. commercial channels, which would represent approximately a 74% increase from the first quarter of 2022. This includes roughly $147,000 of revenues generated from the sales of Truvaga™ in the first full quarter since the eCommerce launch in December 2022.
Outside of the U.S.: The Company expects to recognize revenue of approximately $406,000 from its business outside of the U.S. for the first quarter of 2023, which would represent approximately a 33% increase from the first quarter of 2022. International revenue for the first quarter of 2023 is expected to include approximately $45,000 of license fees pursuant to the previously announced license agreement with Teijin Limited for commercialization in Japan.
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 believes that our legacy headache channels will again grow by more than 50% to at least $12.0 million for the full year and revenue from new products in the Truvaga and TAC-STIM brands could be more than $2.0 million for the full year.
The Company intends to provide a detailed operational and financial update during its first quarter 2023 earnings call in May 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 first 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:
Rich Cockrell
CG Capital
404-736-3838
ecor@cg.capital
Primary Logo
$ECOR electroCore Provides Select First 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 first quarter of 2023.
Financial Guidance
Preliminary unaudited financial guidance for the first quarter of 2023:
Revenue: The Company anticipates reporting record quarterly revenue of approximately $2.8 million for the quarter ended March 31, 2023. This would represent approximately 46% growth over first quarter 2022 revenue of approximately $1.9 million.
Government Channels: For the first quarter of 2023, the Company expects to recognize record revenue of approximately $1.8 million 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 as well as revenues associated with our human performance brand, TAC-STIM™. This would represent approximately 42% revenue growth compared to approximately $1.3 million of revenue from this channel during the first quarter of 2022. 124 VA and DoD military treatment facilities have purchased gammaCore products through March 31, 2023, as compared to 117 through December 31, 2022.
Commercial: For the first quarter of 2023, the Company expects to recognize record revenue of approximately $581,000 from its U.S. commercial channels, which would represent approximately a 74% increase from the first quarter of 2022. This includes roughly $147,000 of revenues generated from the sales of Truvaga™ in the first full quarter since the eCommerce launch in December 2022.
Outside of the U.S.: The Company expects to recognize revenue of approximately $406,000 from its business outside of the U.S. for the first quarter of 2023, which would represent approximately a 33% increase from the first quarter of 2022. International revenue for the first quarter of 2023 is expected to include approximately $45,000 of license fees pursuant to the previously announced license agreement with Teijin Limited for commercialization in Japan.
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 believes that our legacy headache channels will again grow by more than 50% to at least $12.0 million for the full year and revenue from new products in the Truvaga and TAC-STIM brands could be more than $2.0 million for the full year.
The Company intends to provide a detailed operational and financial update during its first quarter 2023 earnings call in May 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 first 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:
Rich Cockrell
CG Capital
404-736-3838
ecor@cg.capital
Primary Logo
$ECOR electroCore to Announce First Quarter Financial Results on Wednesday, May 3
Source: GlobeNewswire Inc.
electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine company, announced today that it will report financial results for the first quarter ended March 31, 2023, after the close of the market on Wednesday, May 3, 2023. Management will host a conference call and webcast at 4:30 PM EDT to discuss the financial results and answer questions.
Wednesday, May 3, 2023, 4:30 PM EDT
Domestic: 877-269-7756
International: 201-689-7817
Conference ID: 13738144
Webcast: electroCore Earnings Webcast
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.
Contact:
Rich Cockrell
CG Capital
404-736-3838
ecor@cg.capital
Primary Logo
$ECOR electroCore to Announce First Quarter Financial Results on Wednesday, May 3
Source: GlobeNewswire Inc.
electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine company, announced today that it will report financial results for the first quarter ended March 31, 2023, after the close of the market on Wednesday, May 3, 2023. Management will host a conference call and webcast at 4:30 PM EDT to discuss the financial results and answer questions.
Wednesday, May 3, 2023, 4:30 PM EDT
Domestic: 877-269-7756
International: 201-689-7817
Conference ID: 13738144
Webcast: electroCore Earnings Webcast
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.
Contact:
Rich Cockrell
CG Capital
404-736-3838
ecor@cg.capital
Primary Logo
$ECOR electroCore Provides Select First 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 first quarter of 2023.
Financial Guidance
Preliminary unaudited financial guidance for the first quarter of 2023:
Revenue: The Company anticipates reporting record quarterly revenue of approximately $2.8 million for the quarter ended March 31, 2023. This would represent approximately 46% growth over first quarter 2022 revenue of approximately $1.9 million.
Government Channels: For the first quarter of 2023, the Company expects to recognize record revenue of approximately $1.8 million 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 as well as revenues associated with our human performance brand, TAC-STIM™. This would represent approximately 42% revenue growth compared to approximately $1.3 million of revenue from this channel during the first quarter of 2022. 124 VA and DoD military treatment facilities have purchased gammaCore products through March 31, 2023, as compared to 117 through December 31, 2022.
Commercial: For the first quarter of 2023, the Company expects to recognize record revenue of approximately $581,000 from its U.S. commercial channels, which would represent approximately a 74% increase from the first quarter of 2022. This includes roughly $147,000 of revenues generated from the sales of Truvaga™ in the first full quarter since the eCommerce launch in December 2022.
Outside of the U.S.: The Company expects to recognize revenue of approximately $406,000 from its business outside of the U.S. for the first quarter of 2023, which would represent approximately a 33% increase from the first quarter of 2022. International revenue for the first quarter of 2023 is expected to include approximately $45,000 of license fees pursuant to the previously announced license agreement with Teijin Limited for commercialization in Japan.
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 believes that our legacy headache channels will again grow by more than 50% to at least $12.0 million for the full year and revenue from new products in the Truvaga and TAC-STIM brands could be more than $2.0 million for the full year.
The Company intends to provide a detailed operational and financial update during its first quarter 2023 earnings call in May 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 first 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:
Rich Cockrell
CG Capital
404-736-3838
ecor@cg.capital
Primary Logo
$ECOR electroCore Provides Select First 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 first quarter of 2023.
Financial Guidance
Preliminary unaudited financial guidance for the first quarter of 2023:
Revenue: The Company anticipates reporting record quarterly revenue of approximately $2.8 million for the quarter ended March 31, 2023. This would represent approximately 46% growth over first quarter 2022 revenue of approximately $1.9 million.
Government Channels: For the first quarter of 2023, the Company expects to recognize record revenue of approximately $1.8 million 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 as well as revenues associated with our human performance brand, TAC-STIM™. This would represent approximately 42% revenue growth compared to approximately $1.3 million of revenue from this channel during the first quarter of 2022. 124 VA and DoD military treatment facilities have purchased gammaCore products through March 31, 2023, as compared to 117 through December 31, 2022.
Commercial: For the first quarter of 2023, the Company expects to recognize record revenue of approximately $581,000 from its U.S. commercial channels, which would represent approximately a 74% increase from the first quarter of 2022. This includes roughly $147,000 of revenues generated from the sales of Truvaga™ in the first full quarter since the eCommerce launch in December 2022.
Outside of the U.S.: The Company expects to recognize revenue of approximately $406,000 from its business outside of the U.S. for the first quarter of 2023, which would represent approximately a 33% increase from the first quarter of 2022. International revenue for the first quarter of 2023 is expected to include approximately $45,000 of license fees pursuant to the previously announced license agreement with Teijin Limited for commercialization in Japan.
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 believes that our legacy headache channels will again grow by more than 50% to at least $12.0 million for the full year and revenue from new products in the Truvaga and TAC-STIM brands could be more than $2.0 million for the full year.
The Company intends to provide a detailed operational and financial update during its first quarter 2023 earnings call in May 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 first 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:
Rich Cockrell
CG Capital
404-736-3838
ecor@cg.capital
Primary Logo
Houston TX
How are you doing Buddy? Haven’t talk for a long time
Thanks for sharing the Twitter link