Electrocore, Inc. · NASDAQ:ECOR
Electrocore — Shareholder Meeting (June 2019)
24 slides from Electrocore's shareholder meeting presentation, Jun 7, 2019
Slide 1: Annual Meeting of Shareholders
Annual Meeting of Shareholders 06/07/2019 Exhibit 99.1
Slide 2: Disclaimers
Disclaimers This presentation contains "forward-looking" statements. These statements identify substantial risks and uncertainties and relate to future events such as execution of our strategy or our future financial performance. In some cases, you can identify forward-looking statements by terminol
Slide 3: Meeting agenda
Meeting agenda 1. State of the company, GROWTH MODE! Extended cash runway Current revenue growth opportunities Accelerate revenue growth through payer agreements Clinical program focused on label expansion and commercial growth 2019-2020 Goals and Objectives 2. 3. 4. 5. 6.
Slide 4: Patient testimonials
Patient testimonials Patient: "Thanks for saving my Thanksgiving Day". I woke up with the beginnings of a migraine and was worried that my day with family and company would be ruined if I had a migraine all day. Then I remembered that I had Gammacore. I was skeptical that it would work but I did exa
Slide 5: State of the company, GROWTH MODE!
State of the company, GROWTH MODE! We are starting to see revenue growth across several of the channels available to us Optimized sales force size to focus on near term revenue opportunities ~20% of targeted Headache specialists are routinely prescribing gammaCore There is a core group of early adop
Slide 6: Extended cash runway
Extended cash runway
Slide 7: Extended cash runway – recent actions
Extended cash runway – recent actions Reduced annual operating costs by ~$20 million, will continue to look for efficiencies Reduced headcount from 91 to 55 Reduced the number and scope of clinical projects Extended cash runway to 2021 Increased focus on near-term revenue opportunities with the leas
Slide 8: Streamlined and reduced senior overhead
Streamlined and reduced senior overhead New Leadership Team Legacy Organization ~$1.2 million in salary savings Lean new leadership team Title Legacy Salary Savings Cash Severance Legacy Organization Chief Executive Officer $,500,000 $50,000 Chief Strategy & Science Officer $,415,000 $,415,000 $,581
Slide 9: Analyst coverage quotes from May 30, 2019
Quotes from May 30, 2019 Analyst coverage – Josh Shimmer, Evercore “We agree with this decision; it’s best to slow the spending until broader reimbursement can catch up. The company now has cash through the end of 2020 which gives the company adequate time to execute on broadening access and meaning
Slide 10: Current revenue growth opportunities
Current revenue growth opportunities
Slide 11: Channels with potential for growing revenue now
Channels with potential for growing revenue now … Driving FSS/VA-DoD contract sales - started on January 15th Enhancing CVS/Aetna agreement Pursuing medical benefit contracting with Highmark BCBS Pulling through the UK – Innovation Technology Programme Award for Cluster Headache Finalizing a Workers
Slide 12: VA/DoD ~2 million patients suffering with primary headache
VA/DoD ~2 million patients suffering with primary headache Large market opportunity for gammaCore Source: 2018 Data derived from WSI FOIA request re: VA/DoD Total Accessible Market (TAM) Federal Government Market Beneficiary Population Enrolled Sex Migraine Prevalence Total (Est) Migraine Patients C
Slide 13: VA/DoD unit sales by month
QTD unit sales 3x over Q1 (25 Veterans Hospitals), 29 units in the 1st 3 days of June 2019 - Units sold to VA/MTF by month In June, Cardinal Health agreement was initiated to facilitate bulk ordering for 11 Military Treatment Facilities (active military) Reimbursement started Q2 to-date 173 Units
Slide 14: Filled Rx counts by quarter
Filled Rx counts by quarter (55 days elapsed) Filled Prescriptions in Qtr: Prescriptions Filled during that Qtr (New, Renewal, Refill) Elapsed Days: Number of days elapsed from 2019-04-01 until 2019-05-25 Prescriptions in Elapsed Days in Qtr: Number of Prescriptions Filled in the first 55 days of th
Slide 15: Accelerate Neurology revenue through national and regional payer partnerships
Accelerate Neurology revenue through national and regional payer partnerships
Slide 16: Prime Therapeutics – Targeting 30m regional lives
Prime Therapeutics – Targeting 30m regional lives Prime Therapeutics (PBM) is privately owned and represents the following Blues Plans: Prime’s PBM business model is unique since the plans own the PBM Blue Plan Owners Blue Cross Blue Shield of Alabama Blue Cross Blue Shield of Kansas Blue Cross Blue
Slide 17: Consumer targeted activation campaign toward highest prescribers
Consumer targeted activation campaign toward highest prescribers Find a Physician Searches in 6 Targeted MSAs Launched Paid Social Media and Paid Search Added Web Banner Advertising (Programmatic)
Slide 18: Consumer Focus - Telemedicine channel on gC website
Consumer Focus - Telemedicine channel on gC website
Slide 19: Contracting to unlock access to additional growth potential
Contracting to “unlock” access to additional growth potential NO PBM denials for coverage to date National PBMs - Express Scripts (Cigna) and CVS Health (Aetna) Express Scripts (ESI) currently manages 83 million members, recently merged with Cigna ESI working with FDB on a Digital Therapeutics modul
Slide 20: Clinical program focused on label expansion and enhancing commercial growth
Clinical program focused on label expansion and enhancing commercial growth
Slide 21: Streamlined clinical plan to enhance label expansion and sales
Streamlined clinical plan to enhance label expansion and sales GAP-PTH Post-traumatic Headache, under IRB and database review; key to VA focus TR-Venus Treatment of Acute Stroke, enrolling (2/120); majority of funding external grant GENIUS-RA Treatment-Resistant Rheumatoid Arthritis, enrolling (2/40
Slide 22: 2019 – 2020 Goals and Objectives
2019 – 2020 Goals and Objectives
Slide 23: Corporate goals and objectives
Corporate goals and objectives 2H 2019 1H 2020 Drive revenue growth Seeking to secure ESI and Prime Therapeutics, and to enhance CVS agreement Enhance gammaCore’s value proposition Potential US migraine prevention indication Seeking to attain NICE guidance on CH Deliver additional clinical data for
Slide 24: Summary
Summary Revenue is growing across several currently available channels Regional payer discussions present opportunities for additional revenue growth A streamlined organizational structure and clinical development plan reduces cash burn and extends our runway into 2021 Seeking label expansion and ad