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ElectroCore, Inc. Announces Third Quarter Financial Results
Third Quarter 2018 and Recent Highlights
Generated 4,516 gammaCore® prescriptions in the third quarter of 2018, with over 11,000 prescriptions written as of
October 31, 2018
- Nearly 1,500 unique prescribing physicians through the third quarter of 2018, an increase of 48% from the second quarter
- Launched reloadable and rechargeable gammaCore Sapphire across the U.S. market
Submitted 510(k) application to the
FDAfor the prevention of cluster headache
- Commercial payer coverage for 35 million lives beginning in the first quarter of 2019
National Institute of Health and Care Excellence(NICE) publication advising gammaCore for the treatment of cluster headache in the U.K.
“We are pleased with our performance in the third quarter and are encouraged by the positive prescription trends we are generating while we progress forward several clinical and strategic initiatives,” said
Third Quarter Financial Results
Gross profit for the third quarter of 2018 was
Total operating expenses for the third quarter of 2018 were
Operating loss in the third quarter of 2018 was
Cash, cash equivalents, and short-term investments were approximately
Webcast and Conference Call Information
electroCore’s management team will host a conference call today beginning at
About electroCore, Inc.
electroCore, Inc. is a commercial-stage bioelectronic medicine company dedicated to improving patient outcomes through its platform non-invasive vagus nerve stimulation therapy initially focused on the treatment of multiple conditions in neurology and rheumatology. The Company’s initial targets are the acute treatment of migraine and episodic cluster headache.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements about electroCore's business prospects and product development plans, its pipeline or potential markets for its technologies, and other statements that are not historical in nature, particularly those that utilize terminology such as "anticipates," "will," "expects," "believes," "intends," other words of similar meaning, derivations of such words and the use of future dates. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to raise the additional funding needed to continue to pursue electroCore’s business and product development plans, the inherent uncertainties associated with developing new products or technologies, the ability to commercialize gammaCore™, the willingness and degree of third-party payors to provide adequate coverage and reimbursement for the use of gammaCore, competition in the industry in which electroCore operates, overall market conditions, and continuing positive trends in prescriptions and user demand for our therapy. Any forward-looking statements are made as of the date of this press release, and electroCore assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents electroCore files with the