ROCKAWAY, N.J., March 05, 2024 (GLOBE NEWSWIRE) -- electroCore, Inc. (NASDAQ:ECOR), a commercial-stage bioelectronic medicine and wellness company, today announced that it will report financial results for the fourth quarter and year ended December 31, 2023, after the close of the market on Wednesday, March 13, 2024. Management will host a conference call and webcast at 4:30 PM EST to discuss the financial results and answer questions. Wednesday, March 13, 4:30 PM ESTDomestic: 877-407-8835International: loc ...

ROCKAWAY, N.J., Feb. 06, 2024 (GLOBE NEWSWIRE) -- electroCore, Inc. (NASDAQ:ECOR), a commercial-stage bioelectronic medicine and wellness company, today announced the United States Patent and Trademark Office has issued a patent related to systems and methods for treating disorders associated with viruses in the Coronaviridae family (COVID). U.S. Patent No. 11,894,148 entitled "Systems and Methods for Treating Patients With Diseases Associated With Viruses" generally relates to methods for treating disorder ...

electroCore, Inc. (NASDAQ:ECOR) Q3 2023 Earnings Conference Call November 8, 2023 4:30 PM ET Company Participants Dan Goldberger – Chief Executive Officer Brian Posner – Chief Financial Officer Conference Call Participants Destiny Hance – Ladenburg Thalmann Ramakanth Swayampakula – H.C. Wainwright Nick Sherwood – Maxim Group, LLC Walter Schenker – MAZ Partners Operator Greetings, and welcome to the electroCore Third Quarter 2023 Earnings Conference Call. At this time, all participants on a listen only mode. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ______________ TO ______________ Commission File Number 001-38538 electroCore, Inc. (Exact name of Registrant as specified in its charter) Delaware 20-345497 ...

electroCore, Inc. (NASDAQ:ECOR) Q2 2023 Earnings Conference Call August 9, 2023 4:30 PM ET Company Participants Daniel Goldberger - CEO & Director Brian Posner - CFO & Corporate Secretary Conference Call Participants John Vandermosten - Zacks Swayampakula Ramakanth - H.C. Wainwright & Co. Nick Sherwood - Maxim Tyler Bussian - Brookline Capital Markets Operator Greetings, and welcome to the electroCore Second Quarter 2023 Earnings Conference Call. [Operator Instructions]. It is now my pleasure to introduce y ...

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ______________ TO ______________ Commission File Number 001-38538 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED June 30, 2023 electroCore, Inc. (Exact name of Registrant as specified in its charter) Delaware 20-3454976 (St ...

electroCore, Inc. (NASDAQ:ECOR) Q1 2023 Earnings Conference Call May 3, 2023 4:30 PM ET Company Participants Nicole Jones - IR Dan Goldberger - Chief Executive Officer Brian Posner - Chief Financial Officer Conference Call Participants John Vandermosten - Zacks Small-Cap Research Ramakanth Swayampakula - H.C. Wainwright Kemp Dolliver - Brookline Capital Markets Nick Sherwood - Maxim Group Operator And welcome to the electroCore First Quarter 2023 Earnings Call. [Operator Instructions]. As a reminder, this c ...

Part I. FINANCIAL INFORMATION [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) For the quarter ended March 31, 2023, the company reported an increased net loss of $5.9 million, with total assets decreasing to $18.3 million primarily due to reduced cash and cash equivalents, and net cash used in operating activities rising to $5.9 million Financial Metric (in thousands) | Financial Metric | March 31, 2023 (in thousands) | March 31, 2022 (in thousands) | | :--- | :--- | :--- | | **Net Sales** | $2,780 | $1,899 | | **Gross Profit** | $2,322 | $1,539 | | **Loss from Operations** | $(6,197) | $(5,581) | | **Net Loss** | $(5,867) | $(5,582) | | **Net Loss Per Share** | $(1.24) | $(1.20) | Balance Sheet Item (in thousands) | Balance Sheet Item | March 31, 2023 (in thousands) | December 31, 2022 (in thousands) | | :--- | :--- | :--- | | **Cash and cash equivalents** | $11,908 | $17,712 | | **Total Current Assets** | $15,374 | $21,173 | | **Total Assets** | $18,300 | $24,756 | | **Total Liabilities** | $6,453 | $7,670 | | **Total Equity** | $11,847 | $17,086 | Cash Flow Activity (in thousands) | Cash Flow Activity | Three months ended March 31, 2023 (in thousands) | Three months ended March 31, 2022 (in thousands) | | :--- | :--- | :--- | | **Net cash used in operating activities** | $(5,860) | $(4,780) | | **Net cash provided by investing activities** | $0 | $0 | | **Net cash provided by financing activities** | $0 | $0 | | **Net decrease in cash** | $(5,804) | $(4,807) | | **Cash at end of period** | $12,158 | $29,882 | - In February 2023, the company executed a **1-for-15 reverse stock split** to regain compliance with Nasdaq's minimum bid price requirement, with all share and per-share data retroactively adjusted[31](index=31&type=chunk)[53](index=53&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=19&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management reported a 46% increase in net sales for Q1 2023 driven by growth across all major channels, particularly the U.S. Department of Veterans Affairs, though the net loss widened due to increased R&D and SG&A expenses, raising substantial doubt about the company's ability to continue as a going concern without additional funding due to its history of losses and dependence on the VA/DoD channel [Business Overview](index=19&type=section&id=Overview) electroCore is a commercial-stage bioelectronic medicine company focused on its non-invasive vagus nerve stimulation technology, marketing products like gammaCore, Truvaga, and TAC-STIM through key sales channels including the U.S. VA/DoD and the UK's NHS - The company's business is centered on its proprietary **nVNS technology platform**, with products targeting medical treatment, general wellness, and human performance[83](index=83&type=chunk)[84](index=84&type=chunk) - Primary revenue is derived from the sale of **gammaCore**, with significant concentration in the U.S. VA/DoD channel, which accounted for **64.5% of revenue in Q1 2023**[90](index=90&type=chunk)[91](index=91&type=chunk) - The company is expanding into cash-pay, physician-dispense, and direct-to-consumer models with its Truvaga and TAC-STIM products to diversify beyond its traditional channels[93](index=93&type=chunk) [Results of Operations](index=21&type=section&id=Results%20of%20Operations) For Q1 2023, net sales increased by 46% to $2.8 million, and gross margin improved to 84%, but operating expenses rose by $1.4 million due to increased R&D and SG&A, resulting in an increased operating loss of $6.2 million Financial Performance (in thousands) | (in thousands) | Q1 2023 | Q1 2022 | Change | Change % | | :--- | :--- | :--- | :--- | :--- | | **Net sales** | $2,780 | $1,899 | $881 | 46% | | **Gross profit** | $2,322 | $1,539 | $783 | 51% | | **Research and development** | $1,809 | $934 | $875 | 94% | | **Selling, general and administrative** | $6,710 | $6,186 | $524 | 8% | | **Loss from operations** | $(6,197) | $(5,581) | $(616) | 11% | | **Net loss** | $(5,867) | $(5,582) | $(285) | 5% | - The **46% increase in net sales** was driven by growth across all major channels, including U.S. commercial, VA/DoD, and international sales[101](index=101&type=chunk) - R&D expenses nearly doubled due to targeted investments in future therapy delivery platforms, including smartphone-integrated technologies[103](index=103&type=chunk) - SG&A expenses increased primarily due to **$332,000 in severance charges** and continued investments in sales and marketing, partially offset by lower insurance and stock compensation costs[104](index=104&type=chunk) [Liquidity and Capital Resources](index=22&type=section&id=Liquidity%20and%20Capital%20Resources) The company's cash and cash equivalents decreased to $11.9 million, with net cash used in operations at $5.9 million, leading management to expect continued negative cash flows and express substantial doubt about the company's ability to continue as a going concern beyond one year without additional funding, especially with the key FSS contract expiring in January 2024 - The company has a history of significant net losses and cash used in operations, which is expected to continue, raising **substantial doubt about its ability to continue as a going concern**[37](index=37&type=chunk)[96](index=96&type=chunk)[115](index=115&type=chunk) - The company's Federal Supply Schedule (FSS) contract, a major source of revenue from the VA/DoD, is scheduled to expire on **January 15, 2024**, with no assurance of renewal[38](index=38&type=chunk)[91](index=91&type=chunk)[114](index=114&type=chunk) - The company may need to seek additional funds or curtail activities, having filed a Form S-3 shelf registration for up to **$75.0 million** in January 2022, though the ability to raise capital may be limited[113](index=113&type=chunk)[116](index=116&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=24&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is exposed to market risks from foreign currency exchange rates and interest rate fluctuations, but management believes the impact of a 10% change in currency rates would be immaterial, and interest rate risk is minimal due to the short-term nature of its cash equivalents - The company's primary foreign currency exposures are to the **British Pound Sterling** and **Japanese Yen**[119](index=119&type=chunk) - A sensitivity analysis showed that a uniform **10% change in foreign currency exchange rates** would have an immaterial impact on net income for the quarter[120](index=120&type=chunk) - Interest rate risk is confined to cash and cash equivalents and is considered **minimal** due to their short-term maturities[121](index=121&type=chunk) [Controls and Procedures](index=24&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of March 31, 2023, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were **effective** as of the end of the period, March 31, 2023[124](index=124&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[125](index=125&type=chunk) Part II. OTHER INFORMATION [Legal Proceedings](index=25&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in several ongoing putative class action and stockholder derivative lawsuits alleging violations of the Securities Act and Exchange Act related to its IPO and subsequent disclosures, which it is vigorously defending but cannot currently determine the probability or range of potential loss - The company is defending against multiple stockholder lawsuits (Kuehl, Turnofsky, Maltz, Yuson) stemming from its IPO and post-IPO disclosures[68](index=68&type=chunk)[71](index=71&type=chunk)[74](index=74&type=chunk) - Allegations include violations of Sections 11, 12(a)(2), and 15 of the Securities Act, and Sections 10(b) and 20(a) of the Exchange Act[69](index=69&type=chunk)[71](index=71&type=chunk) - Due to the preliminary stage of the litigation, the company has not established an accrual for potential losses and cannot guarantee the outcome will not adversely affect its financial condition[76](index=76&type=chunk) [Risk Factors](index=25&type=section&id=Item%201A.%20Risk%20Factors) The company highlights a specific risk related to adverse developments in the financial services industry, noting that market-wide liquidity problems or the failure of financial counterparties, as seen with recent bank failures, could significantly impair its access to funding and adversely impact its business operations and financial condition - A key risk is the potential for adverse developments in the financial services industry, such as liquidity constraints or defaults by financial institutions[130](index=130&type=chunk)[132](index=132&type=chunk) - Recent failures of Silicon Valley Bank, Signature Bank, and First Republic Bank are cited as examples of events that could lead to market-wide liquidity problems[131](index=131&type=chunk) - Such events could impair the company's ability to access funding, obtain financing on acceptable terms, or meet operating expenses, potentially having a material adverse impact on liquidity and operations[133](index=133&type=chunk)

electroCore, Inc. (NASDAQ:ECOR) Q4 2022 Results Conference Call March 8, 2023 4:30 PM ET Company Participants Nicole Jones - IR Dan Goldberger - Chief Executive Officer Brian Posner - Chief Financial Officer Conference Call Participants Jeffrey Cohen - Ladenburg Thalmann John Vandermosten - Zacks Small-Cap Research Ramakanth Swayampakula - H.C. Wainwright Kemp Dolliver - Brookline Capital Markets Operator Hello, and welcome to the electroCore Fourth Quarter and Full Year 2022 Earnings Conference Call and We ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-38538 electroCore, Inc. (Exact name of Registrant as specified in its Charter) (State or other jurisdiction of incorporation or organ ...