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electroCore electroCore Announces First Quarter 2021 Financial Results Record First quarter 2021 net sales of $ 1.2 million , increased 64 % over first quarter 2020 and 30 % sequentially May 6 , 2021 at 4:05 pm ET Company to host a conference call and webcast today , May 6 , 2021 at 4:30 pm ET ROCKAWAY , NJ , ― electroCore , Inc. ( Nasdaq : ECOR ) , a commercial - stage bioelectronic medicine company , announced first quarter 2021 financial results and provided an operational update . First Quarter 2021 and Recent Highlights • Posted revenue of $ 1.2 million , representing an increase of 64 % over first quarter 2020 and 30 % sequentially ; • Net cash used was $ 4.1 million during the first quarter 2021 leaving approximately $ 25.5 million of cash , cash equivalents , and marketable securities at March 31 , 2021 ; • Secured unique CMS Level II HCPCS reimbursement code for " Non - invasive vagus nerve stimulator " ; • • Announced inclusion of gammaCore in the new NHS England and NHS Improvement MedTech Funding Mandate Policy 2021/22 , and two - year extension of gammaCore listing in the NHS Supply Chain Catalogue ; Announced Scottish Health Technology Group recommendation for use of gammaCore ™ in NHS Scotland cluster headache patients ; Executed distribution agreements with RSK Medical , Medistar , Silvert Medical and East Agency for distribution of gammaCore Sapphire in Canada , Australia , Western Europe , and Qatar , respectively ; and Obtained 510 ( k ) clearance of gammaCore from the FDA to expand its indication into preventative and acute treatment of adolescent migraine ( ages 12-17 ) . Dan Goldberger , Chief Executive Officer of electroCore , commented : “ During the quarter , we demonstrated continued progress in operating metrics across all of our revenue channels , despite the challenges and headwinds of the pandemic . We delivered 64 % year - over - year revenue growth in the quarter , we achieved a major U.S. reimbursement milestone in the establishment of a unique Level II HCPCS code for ' Non - invasive vagus nerve stimulator , ' we increased the number of signed ex - U.S . distribution agreements , we continued expanding the FDA cleared gammaCore indications for use to include adolescents suffering from migraine , we announced publications highlighting the power of nVNS as a platform in the Journal of Colorectal Disease for post - operative ileus and Nature Reviews as an emerging treatment for cluster headache , we saw topline results in the SAVIOR - 1 investigator initiated trial , and the progression of clinical trials in four additional indications : stroke , post - operative ileus , opioid use disorder , and post traumatic headache , and we realized continued support by NHS England to cover gammaCore therapy through inclusion in the new NHS Improvement MedTech Funding Mandate . " " I believe we have taken steps to pursue continued growth of gammaCore in our core revenue generating channels while working to establish and capitalize on new opportunities . gammaCore has broad potential utility across a very diverse range of indications , and along with the entire electroCore team , I remain committed to making this therapy available to every individual who can potentially benefit from it . "