ROCKAWAY, N.J., Nov. 12, 2024 (GLOBE NEWSWIRE) -- electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine and wellness company, is proud to announce that its flagship wellness product, Truvaga Plus, has been awarded the prestigious Men’s Health Magazine Tech Award for a pioneering wellness device recognized for innovation and excellence. The award celebrates groundbreaking advancements in health and technology and highlights products that significantly impact men’s health and wellness. A ...

electroCore, Inc. (ECOR) shares soared 6% in the last trading session to close at $13.49. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 61.1% gain over the past four weeks.The recent rise in the stock price can be attributed to investors’ optimism about the financial performance of electroCore’s flagship product, gammaCore Sapphire, in the upcoming third-quarter 2024 results. The company also has two other products in its comme ...

electroCore, Inc. (ECOR) shares rallied 11.7% in the last trading session to close at $8.98. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 24.5% gain over the past four weeks.The sudden rise in the stock price can be attributed to the investors’ positive mindset regarding the financial performance of electroCore’s flagship product, gammaCore Sapphire, in the upcoming earnings results. It is a prescription m ...

. ● . electroCore to Participate at LD Micro Main Event VXII October 14, 2024 8:00 AM EDT | Source: LD Micro Rockaway, New Jersey--(Newsfile Corp. - October 14, 2024) - electroCore, Inc. (NASDAQ: ECOR), a commercial-stage bioelectronic medicine and wellness company, announced today that management will participate at the LD Micro Main Event XVII on Tuesday, October 29 at 4:30 p.m. PT at the Luxe Sunset Boulevard Hotel in Los Angeles, CA. Dan Goldberger, CEO will be representing the company and will be avail ...

ROCKAWAY, N.J., Sept. 10, 2024 (GLOBE NEWSWIRE) -- electroCore, Inc. (Nasdaq: ECOR), a commercialstage bioelectronic medicine and wellness company, today announced that the Air Force Research Laboratories (AFRL) presented new results supporting the ability of electroCore's TAC-STIM (nVNS) to accelerate pilot training. The presentation titled "Accelerating Sensorimotor Learning in A Flight Training Simulation Using Transcutaneous Vagus Nerve Stimulation" was presented on Tuesday, August 26th at the 2024 Medi ...

electroCore, Inc. (NASDAQ:ECOR) Q2 2024 Earnings Conference Call August 7, 2024 4:30 PM ET Company Participants Dan Goldberger - CEO Brian Posner - CFO Conference Call Participants Jeffrey Cohen - Ladenburg Thalmann Anthony Vendetti - Maxim Group Sean Lee - H.C. Wainwright Tyler Bussian - Brookline Capital Markets Walter Schenker - MAZ Partners Operator Greetings, and welcome to the electroCore Second Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being reco ...

Company Participation in Conferences - electroCore's CEO, Dan Goldberger, will participate in the 9th Annual Needham Virtual MedTech & Diagnostics 1x1 Conference on August 12-13, 2024 [1] - CFO Brian Posner is scheduled to attend the 44th Annual Canaccord Genuity Growth Conference in Boston, MA, with 1x1 investor meetings hosted by electroCore on August 13, 2024 [2] Company Overview - electroCore, Inc. is a commercial stage bioelectronic medicine and wellness company focused on improving health through its non-invasive vagus nerve stimulation (nVNS) technology platform [3] - The company aims to commercialize medical devices for managing and treating specific medical conditions, as well as consumer products utilizing nVNS to enhance general wellbeing and human performance in the U.S. and select international markets [3]

ElectroCore, Inc. (ECOR) came out with a quarterly loss of $0.38 per share versus the Zacks Consensus Estimate of a loss of $0.39. This compares to loss of $1.03 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 2.56%. A quarter ago, it was expected that this company would post a loss of $0.50 per share when it actually produced a loss of $0.53, delivering a surprise of -6%. Over the last four quarters, the company has surpasse ...

Financial Performance - Net sales for Q2 2024 reached $6.139 million, a 73% increase from $3.551 million in Q2 2023[10] - Gross profit for Q2 2024 was $5.301 million, compared to $2.966 million in Q2 2023, reflecting a 78% increase[10] - The company reported a net loss of $2.655 million for Q2 2024, an improvement from a net loss of $4.903 million in Q2 2023[10] - For the six months ended June 30, 2024, the net loss was $6.161 million, compared to a net loss of $10.770 million for the same period in 2023, representing a 42.5% improvement[15] - Total net sales for the six months ended June 30, 2024, were $11.582 million, compared to $6.331 million for the same period in 2023, representing an increase of 83.5%[33] Assets and Liabilities - Total current assets increased to $17.959 million as of June 30, 2024, up from $14.294 million at the end of 2023, representing a 26% growth[7] - The company’s total liabilities rose to $10.883 million as of June 30, 2024, compared to $8.660 million at the end of 2023, indicating a 26% increase[8] - Cash and cash equivalents were $10.302 million as of June 30, 2024, compared to $10.331 million at the end of 2023[7] - The accumulated deficit increased to $(171.365) million as of June 30, 2024, from $(165.204) million at the end of 2023[8] - The total stockholders' equity as of June 30, 2024, was $11.472 million, up from $7.064 million as of June 30, 2023, marking a 62.5% increase[14] Operating Expenses - Operating expenses for Q2 2024 totaled $7.892 million, slightly down from $7.954 million in Q2 2023[10] - Research and development expenses for Q2 2024 were $635,000, down from $1.155 million in Q2 2023[10] - The Company recognized lease expenses of $99,000 for the six months ended June 30, 2024, compared to $76,000 for the same period in 2023, reflecting a 30.3% increase[40] Cash Flow and Investments - The company experienced a net cash used in operating activities of $4.330 million for the six months ended June 30, 2024, compared to $9.172 million for the same period in 2023, reflecting a 52.8% reduction[15] - The Company's cash position as of June 30, 2024, was $14.2 million, following net proceeds of approximately $9.0 million from securities sales during the same period[29] - Marketable securities amounted to $3.9 million as of June 30, 2024, consisting entirely of U.S. treasury bills, with no marketable securities held at December 31, 2023[24] Stock and Equity - The weighted average common shares outstanding increased to 7.046 million in Q2 2024 from 4.751 million in Q2 2023[10] - The Company raised $8.3 million through the sale of common stock and warrants during the six months ended June 30, 2024[15] - The Company raised approximately $9.0 million from the sale of securities, with $1 million allocated to settle financial obligations to its legal counsel[46] - As of June 30, 2024, the total number of outstanding stock purchase warrants increased to 1,640,000, with a weighted average exercise price of $5.37[50] Operational Changes - The company has paused operations in Germany, with sales managed by its UK subsidiary[17] - The Company extended its lease in Rockaway, New Jersey for an additional 10 years, increasing the leased area from 13,643 square feet to 22,557 square feet[41] Legal and Compliance - The Company is subject to various legal claims, including stockholder litigation, which may result in substantial defense costs[62] - A material weakness in internal controls over financial reporting was identified due to an unauthorized payment based on incorrect vendor information[109] - The Company plans to implement measures to remediate the identified material weakness in internal controls[110] Future Outlook - The Company expects to continue incurring net losses as it works to increase market acceptance of its products, raising substantial doubt about its ability to continue as a going concern[28] - The Company is assessing the impact of recently adopted accounting standards but does not expect them to materially affect its financial position or cash flows[26][27]

Financial Performance - Record quarterly net sales of $6.1 million, a 73% increase compared to $3.6 million in Q2 2023[2] - Net loss reduced to $2.7 million, a 46% improvement from the $4.9 million loss in Q2 2023[5] - Gross profit for Q2 2024 was $5.3 million, with a gross margin of 86%, up from 84% in Q2 2023[4] - Adjusted EBITDA net loss improved to $1.9 million from $4.5 million in Q2 2023, primarily due to increased net sales[5] - GAAP net loss for the three months ended June 2024 was $2,655,000, an improvement from a loss of $4,903,000 in the same period of 2023[17] - Adjusted EBITDA net loss for the six months ended June 30, 2024, was $5,006,000, compared to a loss of $9,554,000 for the same period in 2023[17] Expenses - Research and development expenses decreased to $0.6 million from $1.2 million in Q2 2023, reflecting reduced investment in the app-enabled platform[4] - Selling, general and administrative expenses increased to $7.3 million from $6.8 million in Q2 2023, driven by investments in sales and marketing[4] - Stock-based compensation increased to $472,000 for the three months ended June 2024, up from $183,000 in the same period of 2023[17] - Interest and other expenses improved to $64,000 for the three months ended June 2024, compared to an expense of $85,000 in the same period of 2023[17] - Legal fees associated with stockholders' litigation were $2,000 for the three months ended June 2024, down from $35,000 in the same period of 2023[17] - Depreciation and amortization expenses decreased to $201,000 for the three months ended June 2024, compared to $322,000 in the same period of 2023[17] - The company reported an inventory reserve charge of $0 for the three months ended June 2024, compared to a charge of $10,000 in the same period of 2023[17] Cash and Securities - Cash, cash equivalents, marketable securities, and restricted cash totaled approximately $14.5 million as of June 30, 2024, up from $10.6 million at the end of 2023[6] Product Launches - Launched the direct-to-consumer mobile app-enabled product Truvaga Plus™[2] - Commercial launch of the next generation TAC-STIM™[2] Company Developments - electroCore joined the Russell Microcap® Index[2] Non-GAAP Measures - The company highlighted the limitations of non-GAAP measures, emphasizing the need to consider them alongside GAAP-based financial performance measures[18] - The reconciliation of GAAP net loss to non-GAAP adjusted EBITDA net loss was provided in the financial statements table[18] - The company noted that adjusted EBITDA net loss does not reflect interest or tax payments, depreciation, or changes in working capital needs[18]