Thursday, May 16, 2019
electroCore (ECOR)
Will Revenue Ramp up in the Next Quarters?
Electrocore Inc is a commercial-stage bioelectronic medicine company with a platform for non-invasive vagus nerve stimulation therapy initially focused on neurology and rheumatology. Its product gammaCore is FDA-cleared for the acute treatment of pain associated with migraine and episodic cluster headache in adults.
Ahu Demir, Ph.D., Biotechnology Research Analyst, Noble Capital Markets, Inc.
Refer to full report for price target, fundamental analysis and rating.
- First quarter 2019 results are
below expectations. The company reported $0.4 million of revenue (+11%), 2,200 prescribing physicians (+22%) and consistent prescriptions in this quarter relative to the previous quarter. In the quarter, electroCore expanded coverage of reimbursement with payers (CVS Caremark, Highmark and federal supply schedule (FSS)), however this has not yet impacted revenue growth. - Acceleration is anticipated in the next
quarters. We are assessing the company’s progress and scrutinizing the market uptake of gammaCore in the next quarters of 2019. On the call, management stated that the modest revenue ramp is dri…
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