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Tag: electroCore Inc.

  • ElectroCore Inc. (ECOR) stock Succumbs to Corrections After Hours

    ElectroCore Inc. (ECOR) stock Succumbs to Corrections After Hours

    Following a huge gain of 64.03% in regular trading, ElectroCore Inc. (ECOR) fell under corrections in the after-hours on Wednesday. The stock gained big on the news of Breakthrough Device Designation.

    During the regular session, ECOR stock varied between a high of $0.9800 and a low of $0.5629. The news caused the stock to close the session at $0.8800 on Wednesday. Consequently, the stock lost 13.58% to corrections in the after hours. Hence, ECOR was trading at $0.7605 apiece in the after-hours at a volume of 2.9 million shares.

    The non-invasive vagus nerve stimulation (nVNS) therapy solutions provider, ElectroCore Inc. (ECOR) has a market capitalization of $37.93 million). Currently, the company’s outstanding shares in the market are 70.7 million.

    What Happened to ECOR?

    On January 12, ElectroCore Inc. announced receiving Breakthrough Device Designation for its gammaCoreTM nVNS device. The news caused investors to flock towards the stock, making it soar at a huge volume of 79.44 million. The day’s volume was a humungous 4,218% of its 65-day average of 1.88 million. Consequent to the announcement, ECOR made a big jump of over 64% in the regular session. Given the huge gain, the stock was bound to fall under corrections. Subsequently, the stock succumbed to corrections in the after-hours on Wednesday.

    Looking at the bigger picture, ECOR had added a good 57.42% in the past five days and 31.34% last month. Moreover, the year-to-date gain of the stock stands at 51.05% while it lost 47.62% last year.

    GammaCoreTM (nVNS) Device

    ECOR’s GammaCoreTM is the first non-invasive hand-held medical therapy that can be self-administered. The device causes the reduction of various kinds of pains in patients including migraine and cluster headache.

    Recently, in a sham-controlled study, gammaCore demonstrated 31% reductions in symptoms of PTSD. Based on this, the U.S. FDA granted Breakthrough Device Designation to the device for the treatment of post-traumatic stress disorder.

    Every year, almost 15 million adults suffer from PTSD in the U.S., according to the Department of Veterans Affairs National Center for PTSD. Currently, PTSD treatments involve medication and psychotherapy that come with limitations and side effects. Moreover, patients have been known to show unwillingness to psychotherapy treatments due to fear of reliving the traumatic memories. Hence, gammaCore brings a breakthrough solution that is cost-effective, non-invasive, safe, and has lower side effects.

    ECOR’s Financial Highlights

    In the third quarter of 2021, ECOR had a net loss of $4.0 million on net sales of $1.5 million. Comparatively, net loss was $4.5 million on net sales of $1.1 million in Q3 of 2020.

  • electroCore, Inc. (ECOR) Stock Surged in After Market. Here’s What you Should Know

    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.