ElectroCore's Shares Are Trading Higher After Australia Ok'd Vagus Nerve Stimulator For Headaches

The Australian Therapeutic Goods Administration has approved ElectroCore Inc's (NASDAQ: ECOR) gammaCore Sapphire family of products, including a non-invasive vagus nerve stimulator (nVNS) for primary headache disorders.

  • Concurrently, the company has entered into an agreement with Medistar2 PTY Limited, whereby Medistar will serve as the exclusive distributor of the gammaCore Sapphire nVNS in Australia.
  • The initial term of the agreement is three years.
  • Medistar, an independent medical device distributor, will officially launch the gammaCore Sapphire at the 2021 ANZHS Headache Annual Scientific Meeting, held on March 13-14. 
  • Last week, the company completed enrollment in a study evaluating the effect of nVNS on respiratory symptoms due to COVID-19.
  • Price Action: ECOR shares surged 58% at $3.43 in premarket trading on the last check Monday.

Posted In: Australian Therapeutic Goods AdministrationheadacheBiotechNewsPenny StocksContractsFDAGeneral

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