electroCore, Inc. (ECOR) is a leading innovative development and commercialization bioelectronic medicine company. The company primarily focuses on the treatment of different neurological conditions through its non-invasive vagus nerve stimulation therapy (nVNS). The company specializes in making therapies for patients with migraine, episodic cluster headaches, and hemicrania.
The price of ECOR stock during the regular trading on December 23, 2021, was $0.69 with an incline of 3.81%. At last check in the aftermarket, the stock was further significantly up by 6.47%.
ECOR: Event and Happenings
On December 16, 2021, ECOR reported about its collaboration with different global and well-known distribution partners for giving the exclusive distribution rights of gammaCore Sapphiren nVNS in Cyprus and the Gulf States. On December 15, 2021, ECOR unveiled an e-commerce webshop for patients. People who wanted to purchase a gammaCore Sapphire nVNS device were required to fill a healthcare questionnaire.
On December 14, 2021, ECOR reported about the clinical trials to evaluate the potential of gammaCore nVNS for the treatment of Post Traumatic Stress Disorder. The patients reported significant improvement in their overall condition. On December 13, 2021, ECOR reported that the United States Patent and Trademark Office had issued Patent No. 11,191,953 to ECOR. The number was issued in relation to the treatment of acute stroke symptoms or transient ischemic attack.
On November 11, 2021, ECOR reported that the top officials of the company presented at the Virtual Canaccord Genuity MedTech & Diagnostics Forum on November 18, 2021.
ECOR: Key Financials
On November 04, 2021, ECOR reported third-quarter 2021 financial results that ended September 30, 2021. Some of the highlights are as follows
Revenue
Revenue of $1.5 million was reported for Q3 2021 representing an increase of 38% from the same period of 2020.
Net Loss per Share
Basic and diluted net loss per share for Q3 2021 was $3.9 million or $0.06 per share as compared to the same period of 2020 when it was $4.18 million or $0.10 per share.
Total Assets
The total assets of ECOR for Q3 2021 were reported to be $47.5 million.
On October 20, 2021, ECOR reported the research published in the British Journal of Healthcare Management. The title of the paper was “nVNS for treatment of cluster headache: a retrospective review of prescribing in England,”. On October 14, 2021, ECOR reported that it received a revised Medical Device License from Canadian Health Department to expand the label of gammaCore nVNS in adolescents.
On September 30, 2021, ECOR reported that the top management of the company presented at the Cantor Fitzgerald Virtual Global Healthcare Conference held on September 30, 2021.
Conclusion
Although ECOR stock declined 6% from the past month. But the recent surge in the stock price which is mainly the result of uncertain market conditions has proven beneficial for the company’s stockholders. Analysts are suggesting that the company has the potential to attract potential investments.
