Company: Electrocore, LLC
Symbol: ECOR
Description: They are a commercial-stage bioelectronic medicine company with a platform non-invasive vagus nerve stimulation therapy initially focused on neurology and rheumatology.
Trade Date: 6/22
Shares: 4.33 million
Price Range: $14.00-$16.00
Underwriter(s): Evercore ISI, JMP Securities, BTIG
Terms Added: 6-5-18
Business: They are a commercial-stage bioelectronic medicine company with a platform non-invasive vagus nerve stimulation therapy initially focused on neurology and rheumatology. Their therapy, gammaCore, has pharmacologic effects on the peripheral and central nervous systems, which modulate neurotransmitters and immune function. gammaCore is FDA-cleared for the acute treatment of pain associated with migraine and episodic cluster headache in adults. In order to generate advocacy among physicians and patient demand in the form of prescriptions submitted to payors, they recently initiated a product registry for episodic cluster headache. Having established a base of advocacy among key opinion leaders in the headache field through the product registry, their strategy is to commercially launch in migraine and episodic cluster headache in the third quarter of 2018. Based on their clinical data, they are pursuing label expansions for the prevention of migraine, migraine in adolescents and post-traumatic headache, and are also engaging in clinical development for potential new labeling claims in rheumatology, including Sjögren’s syndrome and rheumatoid arthritis.
Insider Buying: Certain of their existing stockholders, including entities affiliated with certain of our directors, have indicated an interest in purchasing an aggregate of approximately $20 million in shares of their common stock in this offering at the initial public offering price per share.
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