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Q3 2019: Revising Outlook After Slow Quarter
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, Biotechnology Research Analyst, Noble Capital Markets, Inc.
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- Third quarter 2019 financial results. The company reported net sales of $683,000 compared to $623,000 and $410,000, respectively, in the two previous quarters of 2019. Forty and 25 percent of the total sales in the quarter were attributed to the federal supply schedule (FSS)and the United Kingdom (UK) channels,respectively. No additional payers or lives were added/disclosed to the current reimbursement coverage.
- Did the results meet expectations? We believe the recent numbers do not demonstrate the expected revenue ramp-up. In the quarter, we did not see the near-term positive trajectory in...
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