Recap of: (NASDAQ: $ECOR) electroCore, Inc.

Brief Overview,

• A med-tech company based out of Basking Ridge, New Jersey. electroCore was founded in 2005. The company operated on the unified belief that neuromodulation may be used to help patients that are unhappy with their current treatments. electroCore’s mission is to help patients all around the globe that suffer from pain and chronic conditions. With an intellectual property portfolio of more than 200 patients and patent applications, covering many critical areas of their technology. electroCore has been able to establish their US Sales channels between Government customers, commercial customers and ecommerce customers.

Leadership,

• Daniel S. Goldberger – Chief Executive Officer
  • Daniel is responsible for leading and guiding the overall vision and goals of electroCore. Served as Executive Chairman of Repro Med Systems, Inc. (RMS). Has over 35 years of leadership and medical device experience, including; Director and Chief Executive Officer of Xtant Medical Holdings, Inc. and Director and Chief Executive Officer of Sound Surgical Technologies.
• Peter S. Staats – Chief Medical Officer
  • Dr. Peter Staats is responsible for overseeing the ongoing clinical development of gammaCoreTM and works to advance the technology into new potential indications. Dr. Staats is a co-founder of electroCore and has previously served on the board of directors. He was the founder of the Division of Pain Medicine at Johns Hopkins University, where he was the director for 10 years. Dr. Staats received his medical degree from the University of Michigan Medical School in Ann Arbor and completed his residency and fellowship training at the Johns Hopkins University School of Medicine.
• Brian Posner – Chief Financial Officer
  • Brian is a strategic and financial leader with more than 30 years of diversified management experience working in both public and private companies ranging from start-up to $1 billion. Has served as Chief Financial Officer at several life science and emerging technology companies, including Cellectar Biosciences, Alliqua BioMedical, Ocean Power Technologies, and Power Medical Interventions.
• Joshua Lev – Chief Strategy Officer
  • Mr. Lev has been the Chief Strategy Officer since January 2022. He joined electroCore in February 2020 as the VP of Business Development, Strategy and Financial Planning. Mr. Lev has over 15 years experience in the financial services industry including 10+ years spent as an investment banker and investor focusing on emerging growth companies. Over the span of his career, Mr. Lev has been involved in the financial and strategic planning of companies across multiple sizes and industries.

News Summary,

• Published a peer reviewed manuscript, 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 in the journal, Brain Stimulation.
  • Conducted with the support of Emory and Georgia Tech University, was sponsored by a grant from the National Institute on Drug Addiction (NIDA), part of the National Institutes of Health (NIH), through NIH Helping to End Addiction Long-term® Initiative, or NIH HEAL Initiative.
• electroCore’s Chief Executive Officer, Dan Goldberger, will be presenting at the Canaccord Genuity 42nd Annual Growth Conference.
• Q2 Selected Financial Results:
  • Anticipates reporting second quarter 2022 revenue of more than $2,100,000. This represents at least an 11% increase over the first quarter 2022 revenue of $1,899,000 and approximately 65% growth over the second quarter 2021 revenue of $1,269,000.
  • Expects to recognize revenue of approximately $1,200,000 pursuant to the Department of Veterans Affairs (“VA”) and Department of Defense (“DoD”) originating prescriptions for the Company’s gammaCore® products, compared to $1,260,00 in the first quarter of 2022 and $779,000 or approximately 54% growth over the second quarter of 2021. 106 VA and DoD military treatment facilities purchased gammaCore products through June 30, 2022, as compared to 105 through the first quarter of 2022 and 85 through the second quarter of 2021.
  • Expects to recognize revenue of approximately $465,000 from its commercial channels, dominated by our cash pay initiatives and representing approximately a 68% increase over the first quarter of 2022 and approximately a 347% increase from the second quarter of 2021.
  • Expected revenue of approximately $466,000 from its business outside of the U.S. for the second quarter ended June 30, 2022, representing approximately a 53% increase from the first quarter of 2022 and approximately a 20% increase from the second quarter of 2021. International revenue includes approximately $50,000 of license fees pursuant to the previously announced agreement with Teijin Limited for commercialization in Japan.
  • Ended the second quarter of 2022 with approximately $26.6 million of cash and cash equivalents, compared to $29.9 million as of the end of the first quarter of 2022.
• Announced, Mayo Clinic is initiating an investigator-initiated study to assess the efficacy of gammaCore Sapphire non-invasive vagus nerve stimulation (nVNS) in patients with post-COVID syndrome. Post-COVID syndrome, also known as Long COVID, is a collection of symptoms that persist greater than 28 days after the initial onset of symptoms of SARS-CoV-2 (COVID) infection
  • The study entitled “Outcomes of treatment with non-invasive vagal nerve stimulation (nVNS) in post-COVID syndrome: A Pilot Study,” is a randomized, single-center, controlled trial enrolling up to 20 subjects recruited from the Post-COVID Care Clinic at Mayo Clinic in Rochester, Minnesota.
• Received approval from the Nasdaq Stock Market (“Nasdaq”) to transfer the listing of its common stock from the Nasdaq Global Select Market to the Nasdaq Capital Market. This transfer will be effective as of the opening of business on June 23, 2022.

Financials,

• Market Cap: 34.856M USD
• Current Price: 0.4901 USD
• 52 Week Range: 0.2650 – 1.3000 USD
• Average Volume: 179,435
• 1y Target Price: 2.31 USD

(As of September 19th, 2022)

https://ca.finance.yahoo.com/quote/ECOR?p=ECOR

Pipeline & Catalysts,

• Indication: Headache
  • Primary Headache
    • In market phase
  • Post Traumatic Headache
    • In pivotal phase
  • Subarachnoid Hemorrhage Headache
    • In pilot phase
• Indication: General Neurology
  • Post Traumatic Stress Disorder
    • In pivotal phase
  • Opioid Use Disorder
    • In pilot phase
  • Parkinson’s disease
    • In pilot phase
• Indication: Acute Neurological Injury
  • Stroke
    • In pilot phase
  • Subarachnoid Hemorrhage Headache
    • In pilot phase
• Indication: Gastrointestinal
  • Postoperative Ileus
    • In pivotal phase
  • Nausea in gastroparesis
    • In pilot phase

Partners,

• US Department of Veterans Affairs
• Northwell Health
• Emory Healthcare
• Georgia Tech University
• Newcastle University
• Institute of Neurosciences Kolkata
• Hacettepe University
• Leids Universitair Medisch Centrum
• Massachusetts General Hospital
• University of Leeds
• John Hopkins Medicine

Investor Presentation: https://investor.electrocore.com/static-files/fbeaedcc-8d2c-4e4d-8564-76e6e656a934

*not financial advice, always do your own research*