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What Caused 35% Pre-Market Surge In electroCore, Inc. (ECOR) Stock Today?

Shares of electroCore, Inc. (ECOR) has been surging strongly in the pre-market session today following an announcement of exclusive distribution agreement in Australia. The stock was up 35.02% to $2.93 as of 09:00 a.m. EST.

What’s causing the stock to surge?


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Basking Ridge, New Jersey-based electroCore, Inc. is a company developing medical devices based on bioelectronics. Through its non-invasive vagus nerve stimulation therapy platform, it intends to improve patient outcomes initially focused on the treatment of multiple neurological conditions.

The company’s treatment for migraines and cluster headaches has currently includes both preventative and acute treatment indications. It develops and commercializes a range of non-invasive vagus nerve stimulator (nVNS) therapies administered to patients. GammaCore Sapphire is its lead product, a rechargeable handheld delivery system that is prescribed on a monthly basis for multiple years.

A deal, announced yesterday, has been struck between electroCore and Medistar2 PTY Limited, through which Medistar will distribute the gammaCore Sapphire in Australian market with exclusivity.

 

The electroCore, Inc. (ECOR) stock begin the regular trading at an uptick and was up 37% to $2.99 in early trades.

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