ElectroCore News: Why ECOR Stock Is Skyrocketing 142% Today

ElectroCore (NASDAQ:ECOR) news for Monday concerning emergency authorization from the U.S Food & Drug Administration (FDA) for use of one of its drugs for patients suffering from the novel coronavirus.

ElectroCore News: Why ECOR Stock Is Skyrocketing 142% Today

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An ElectroCore news release notes that the authorization is for its gammaCore Sapphire CV non-invasive vagus nerve stimulation. This is a medicine that can treat adult patients suffering from the coronavirus, or those that are suspected to be.

The treatment specifically is for those “experiencing exacerbation of asthma-related dyspnea and reduced airflow.” The drug is also only allowed if the patient isn’t able to take already approved therapies.

ElectroCore notes that the emergency authorization allows for the use of the drug in a healthcare or home setting. It’s also worth pointing out that the emergency authorization isn’t the same as approval from the FDA.

While the treatment doesn’t have approval, it has had a couple of successful studies. These two studies found that the drug was effective at treating patients suffering from acute asthma exacerbations or acute bronchoconstriction brought on by asthma.

Dan Goldberger, CEO of ElectroCore, said this about the news.

“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.”

ElectroCore will reveal details about the distribution of its treatment in the coming weeks.

ECOR stock was up 142.3% as of Monday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/07/electrocore-coronavirus-news-sends-ecor-stock-soaring/.

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