HomeFinancial MarketsWhy electroCore Inc. (ECOR) stock surged on Thursday?

Why electroCore Inc. (ECOR) stock surged on Thursday?

electroCore Inc. (ECOR) shares surged 6.47% in after-hours on Thursday, December 23, 2021, and closed the weekly trading at $0.74. Even in the regular trading session, ECOR’s stock gained 3.81%. ECOR shares have fallen 56.83% over the last 12 months, and they have moved up 2.69% in the past week. Over the past three months, the stock has lost 40.09%, while over the past six months, it has declined 59.36%.

let’s have a brief look at its recent news and developments.

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ECOR agreements with Melidonia, Cyrus and Medexsol

On December 16, 2021, electroCore, Inc. (ECOR) entered into agreements with Melidonia Health Services, Cyrus Medical Technologies, and Express Medical Solutions LLC. (Medexsol) to serve as the exclusive distributors of the gammaCore Sapphire™ non-invasive vagus nerve stimulator (nVNS) in Cyprus, the United Arab Emirates and Oman, and Saudi Arabia and Bahrain, respectively.

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The initial term of the Melidonia agreement is three years while the Cyrus and Medexsol agreements have an initial term of five years.

ECOR new online shop in the UK

On December 15, 2021, electroCore, Inc. (ECOR), launched an e-commerce shop for patients residing in the United Kingdom. The site, which can be found at www.gammacore.co.uk, requires patients to complete a healthcare questionnaire to purchase a gammaCore Sapphire™, a non-invasive vagus nerve stimulator (nVNS) device online.

ECOR update on nVNS

On December 14, 2021, electroCore, Inc. (ECOR), provided an update on the ongoing clinical research to assess the potential of gammaCore (non-invasive vagal nerve stimulation; nVNS) to treat Post Traumatic Stress Disorder (PTSD).

On December 6, a study was published in the Journal of Affective Disorders, stating that 20 patients suffering from PTSD were exposed to personalized traumatic scripts followed by an immediate stimulation by an active or sham non-invasive vagus nerve stimulator(nVNS).

The three months treatment with nVNS resulted in a 31% reduction (p<0.013) in PTSD symptoms compared to sham on the PTSD Checklist (PCL), as well as a significant decrease in hyperarousal symptoms (p=0.008) and a decrease in overall and somatic (gastric) anxiety.

The patients who used nVNS for a further 3 months showed significant improvement in their overall symptoms reported by the Clinical Global Index

New patent for Stroke and TIA treatment

On December 13, 2021, the United States Patent and Trademark Office (USPTO) issued U.S. Patent No. 11,191,953 to electroCore, Inc. (ECOR), relating to the treatment of stroke symptoms.

This patent deals with the methods for treating the acute symptoms of stroke or transient ischemic attack (TIA).

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We have no recent news available which could be linked with its exceptional performance on Thursday. Let’s see how it commences trading on Monday after the long weekend?

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