After releasing its financial results, electroCore Inc. (NASDAQ: ECOR) saw a decline of -17.52% to $0.2722 in pre-market trading on Friday, reversing a previous session gain of 13.48%.
What has ECOR disclosed?
The financial figures for the third quarter of 2022 were released by electroCore (ECOR), along with an operating update.
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- Almost $2.0 million in sales was reported by electroCore, an increase of about 33% from the third quarter of 2021.
- On September 30, 2022, ECOR had $21.9 million in cash and cash equivalents after using net cash of $4.6 million for operating purposes during the third quarter.
- With the issuance of four additional U.S. patents covering nVNS and other innovations, ECOR has bolstered its patent portfolio.
ECOR signed an exclusive contract
Joerns Healthcare, LLC (Joerns) will be the only distributor and biller of gammaCore Sapphire, the first and only FDA-cleared non-invasive device to treat and prevent different forms of headache pain via the vagus nerve, according to a statement from electroCore.
The goal of Joerns is to make healthcare delivery more straightforward so that healthcare professionals may concentrate on patient requirements and payors can be sure that their beneficiaries have access to the finest value-based treatments. Managed care and other providers will find it simpler to guarantee that their patients have access to the best therapies when and when they need them by helping with the distribution and invoicing of ECOR’s Sapphire nVNS therapy.
Why did ECOR agree to bind?
Joerns will collaborate with electroCore (ECOR) as it increases patient access to its therapy. This partnership allows ECOR to increase the use of gammaCore nVNS technology for people with a primary headache within a self-insured managed care organization, supporting the company’s strategy of giving patients easier access to its nVNS therapy. Joerns is a trusted partner of many large managed care companies.
