Medical technology company, ElectroCore Inc (NASDAQ:ECOR), which focuses on treating chronic conditions, harnesses proprietary gammaCore treatments for stimulating the nerve responsible for transmitting sensory information from vital organs to the brain, Vagus nerve. The company is investing the efficacy in managing number of nervous system disorders like PTSD and Parkinson’s disease. Some other applications include treating opioid addiction as well as subarachnoid hemorrhage.
The firm had announced a pilot study demonstrating vagus nerve stimulation lowering
inflammatory response to stress as well as improved symptoms in patients with PTSD. The firm’s financial records for second quarter of 2021 demonstrates an improvement in revenue stream with the top line at $1.3 million, which was an increase by 69% from the year-ago quarter. ElectroCore had a public offering of stock in June for raising capital, which resulted in giving $18.8 million in net proceeds.
The firm’s current price could give investors a good entry point, according to Ladenburg 5-star analyst Jeffrey Cohen. Cohen opines that the thought is based on gammaCoretechnology, big current TAMs as well as potential for expansion into other disorders and conditions. Majorly, the firm’s revenues are from Department ofVeterans Affairs. This gives consistent revenues from a number of patients. The firm also has a number of alternativeareas of interest within as well as outside of neurological disorders, according to Cohen.
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