ROCKAWAY, N.J. - electroCore, Inc. (NASDAQ:ECOR), a company specializing in bioelectronic medicine, has been granted two new patents by the United States Patent and Trademark Office (USPTO) on Monday. These patents are for its non-invasive vagus nerve stimulation (nVNS) technology, which is used in therapeutic applications.
The first patent, US Patent No. 11,944,815, covers a system that pairs a mobile device with a downloadable software application to wirelessly transmit a therapy regimen to a stimulator. This regimen involves generating an electrical signal for a duration ranging from approximately 5 minutes to 30 minutes.
The second patent, US Patent No. 11,944,807, details methods for treating central nervous system disorders, including PTSD, fibromyalgia, anxiety, and traumatic brain injury (TBI). The treatment protocol outlined in the patent involves applying electrical impulses to the vagus nerve in at least two doses each day, with each impulse consisting of bursts of 2 to 20 sinusoidal pulses.
electroCore's primary focus is on the commercialization of medical devices that manage and treat medical conditions and consumer products that promote general wellbeing using its nVNS technology platform. The company operates in the United States and select overseas markets.
The news of these patents being issued is based on a press release statement from electroCore, Inc. The company has not provided any additional details about the commercial impact of these patents or its future business models. Investors are reminded to consider the inherent uncertainties in new product development and the competitive nature of the industry when evaluating this information.
InvestingPro Insights
As electroCore, Inc. (NASDAQ:ECOR) continues to make strides in bioelectronic medicine with the recent acquisition of two patents, investors are keen on understanding the financial health and future prospects of the company. According to InvestingPro data, electroCore holds a market capitalization of 36.74 million USD, which may capture the market's current valuation of the company's potential following its latest advancements.
An InvestingPro Tip that stands out is the company's strong cash position in comparison to its debt, indicating a solid balance sheet. This could be particularly relevant as the company pursues further research and development in its nVNS technology platform. However, it's also important to note that electroCore is quickly burning through its cash reserves, a situation that investors should monitor, especially as analysts do not expect the company to be profitable this year and it has not been profitable over the last twelve months.
From a financial metrics perspective, electroCore has experienced significant revenue growth, with a reported increase of 86.57% for the last twelve months as of Q4 2023. This growth is indicative of the company's expanding operations and could bode well for its future, despite the current lack of profitability. The company has also reported a high gross profit margin of 82.51% for the same period, suggesting that it retains a large portion of its sales as gross profit.
For investors interested in exploring more about electroCore's financials and strategic position, there are additional InvestingPro Tips available. There are 4 more tips listed on https://www.investing.com/pro/ECOR, which could provide deeper insights into the company's performance and market potential. To access these insights, readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.