electroCore, Inc. (ECOR)

[Polyphemus]

Report of eVNS in vivo trial for TBI is GOOD NEWS. TBI treatment is surgery, with 25% or more mortality within 30 days of procedure. Survivors often have post-op neurological deficit, with no current effective treatment available. eVNS can be post-op therapy. Cost of treating TBI can go into mid-6 figures, so price sensitivity for a device isn't an issue. Problem will be to identify sub-groups that will be responsive and conducting long follow up clinical trials. Trauma trials are difficult to do well. Capital intensive and long, but good bet for eVNS technology. TBI treatment would probably be Class III device, depending on claims. Better than head aches.