Distirbution deal for headache relief device in Western Europe
And more deals to be expected:
https://scr.zacks.com/news/news-details ... fault.aspxWe anticipate additional deals to be announced in the coming months. Some of the regions that we think are likely to be high on the priority list for electroCore include Western Europe, Middle East and Asia. Revenues from each of the abovementioned agreements should be recognized in 2021. These arrangements are particularly attractive to electroCore given the low capital requirements and minimum purchase requirements.
Corporate Milestones
electroCore has multiple approved indications and is currently pursuing additional ones with active studies in respiratory symptoms in COVID patients, stroke, post-traumatic conditions, traumatic brain injury and others which are at varying stages of advancement. Below we list recent milestones and anticipated future events.
➢ Complete enrollment for SAVIOR-1 – 1Q:21
➢ Clinical publications for PTSD, PTH & TBI – 4Q:20/1Q:21
➢ Premium II data readout – December 2020
➢ Grant of HCPCS code – January 2021
➢ EU stroke data – 1Q:21/2Q:21
➢ Distribution partner announcements outside US – Ongoing
Anticipated Achievements and Milestones (1)
Summary of Investment Thesis
➢ Effective, non-invasive, and non-pharmaceutical method to treat migraines
➢ Portable, simple and rapid solution for preventing and treating headaches
➢ Indicated for both migraines and cluster headaches
➢ Existing and expanding relationships with VA hospitals
➢ Recharge/refill business model
➢ Supply chain simplicity: direct to customer shipping
➢ gammaCore can be prescribed through telemedicine
➢ NHS relationship in UK may provide foundation for further global expansion
◦ Continental Europe
◦ Asia
➢ Multiple distributor agreements with additional agreements expected
◦ Eastern Europe
◦ Canada
◦ Australia
➢ Opportunity for COVID-related sales following EUA award
➢ Extended indications
◦ Stroke
◦ Trauma injury related headaches
◦ PTSD
◦ Mild traumatic brain injury
◦ Inflammation