electroCore (ECOR) Stock Rockets On FDA Emergency Use Authorization In COVID-19

electroCore ECOR Stock News

electroCore, Inc. (NASDAQ: ECOR) is running for the top in the market this morning, trading on gains that are better stated in multiples than percentages. The gains come after the company announced that it has received Emergency Use Authorization (EUA) from the FDA for a COVID-19 treatment. Here’s what’s happening:

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ECOR Stock Heads Up On EUA

In the press release, electroCore announced that the FDA has issued an EUA surrounding its gammaCore Sapphire CV non-invasive vagus nerve stimulation product. The EUA was provided specifically for the acute treatment of adult patients with known or suspected COVID-19 who are experiencing exacerbation of the asthma-related dyspnea and reduced airflow.

Moreover, the treatment will only be provided to patients who are unable to tolerate current approved therapies or have not seen sufficient symptom relief.

ECOR said that the EUA was based on preliminary data from two prospective studies of the use of VNS or nVNS to treat asthma. These data proved to be positive, leading to strong efficacy results as well as a positive safety and tolerability profile.

In a statement, Dan Goldberger, CEO at ECOR, had the following to offer:

Needless to say, we are very pleased to have received this EUA, and we intend work vigorously to make this novel therapy available to physicians treating known or suspected COVID 19 patients who are experiencing exacerbation of asthma-related breathing difficulty.

The above statement was followed up by Peter Staats, MD, the company’s CMO. Here’s what he had to say:

Results from prior pilot studies that evaluated gammaCore for the acute treatment of asthma support our belief that nVNS may provide much needed relief to patients who are experiencing asthma-related breathing difficulty, which can be particularly debilitating in patients with COVID-19.

This Is Big News

As we all know, COVID-19 case counts are growing in record numbers across the United States at a moment. Unfortunately, there are no approved treatments for COVID-19, but electroCore is one in a long list of biotechnology companies that are seeking a solution.

With the news today, the company becomes one of very few that actually have a tangible product that not only they and their investors believe may be effective, but the FDA does as well as signalled by the EUA.

As such, ECOR stock is one that investors should pay close attention to.

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