Kaskela Law LLC is investigating electroCore, Inc. (“electroCore” or the “Company”) (ECOR) on behalf of investors.
electroCore is a commercial-stage bioelectronic medicine company focused on non-invasive vagus nerve stimulation (“VNS”) therapy. The Company is developing gammaCore, a prescription-only non-invasive VNS therapy for the acute treatment of pain associated with migraine and episodic cluster headache in adults.
On or about June 21, 2018, electroCore completed its initial public offering (“IPO”) of common stock, selling 5.2 million shares of stock to investors at $15.00 per share.
On May 14, 2019, the Company announced first quarter 2019 financial and operational results, which included a quarterly operating loss of $14.2 million. Following this news, shares of electroCore’s stock declined nearly 30% in value, to close on May 15, 2019 at $3.75 per share.
Then, on September 25, 2019, the Company disclosed that the U.S. Food and Drug Administration (“FDA”) “has requested more information and analysis of the clinical data included in the Company’s premarket notification, or ‘510(k)’ submission, seeking an expanded indication for the use of gammaCore.” On this news, shares of electroCore’s stock fell an additional 23% in value, to close on September 25, 2019 at $2.57 per share.
Kaskela Law LLC is investigating whether electroCore and/or the Company’s officers and directors violated the securities laws in connection with electroCore’s IPO, and whether investors have been harmed as a result of such actions and/or misstatements.
electroCore investors who purchased shares of the Company’s stock between June 21, 2018 and May 14, 2019 are encouraged to contact Kaskela Law LLC at (888) 715–1740, or online at http://kaskelalaw.com/case/electrocore-inc/, for additional information about this action and their legal rights and options.
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