Slide 1: A Commercial-Stage Bioelectronic Medicine & Wellness Company
A Commercial-Stage Bioelectronic Medicine & Wellness Company Nasdaq: ECOR Corporate Presentation June 2024
Slide 2: Forward Looking Statement
Forward Looking Statement In addition to historical information, this presentation may contain forward-looking statements with respect to our business, capital resources, strategy and growth reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of
Slide 3: gammaCore Sapphire
gammaCore Sapphire 1st FDA-cleared non-invasive vagus nerve stimulator ▪ Fast acting, comfortable, easy to use hand-held option ▪ FDA Cleared for the prevention and treatment of primary headache in adults and adolescents ▪ No drug-drug interactions or drug-like side effects ▪ Can be used as a stand-
Slide 4: Investment Summary
Investment Summary FDA cleared; proprietary, non-invasive vagus nerve stimulator (nVNS) positioned to unlock Platform Therapy the broad potential of bioelectronic medicine Approximately $16M revenue in 2023; 6-year revenue compounded annual Consistent Topline Growth growth rate (CAGR%) of 68% Gross
Slide 5: Benefits of nVNS (Non-invasive Vagus Nerve Stimulation)
Benefits of nVNS (Non-invasive Vagus Nerve Stimulation) CNS: Reduces nociception, reduces The vagus nerve affects cortical spreading depression, and multiple organs and systems other brain modulation effects; increases glymphatic flow Activates multiple Cardiac: Reduces heart rate and mechanisms of
Slide 6: Active Channels With Revenue Growth Opportunities
Active Channels With Revenue Growth Opportunities Driving Rx headache sales in the Department of Defense and Community Care Network through the VA roughly 1,300 Department of Veterans Affairs and Military Treatment Facilities Hospitals Growth in Rx headache in the U.S commercial channel driven by ca
Slide 7: Truvaga launched December 2022 with greater than $1M of sales in 2023
Launched December 2022 with greater than $1M of sales in 2023 Truvaga is a general wellness product and as such has not been evaluated by the US Food and Drug Administration. Truvaga products are not intended to diagnose, treat, cure, or prevent any disease or condition. Nasdaq: ECOR 7 © 2019 electr
Slide 8: Cognitive Function and Stress Remain an Unmet Need for Consumer
Cognitive Function and Stress Remain an Unmet Need for Consumer Global stress market is estimated at $20.6 billion with the U.S. stress market growing at a 5.3% CAGR(%)1 Source: McKinsey Future of Wellness Survey, August 2023 Source: Truvaga Consumer Study 1. https://www.grandviewresearch.com/indust
Slide 9: Introducing Truvaga Plus
Introducing…. Truvaga Plus Launched April 2024 with approximately 300 units sold in the first three weeks Nasdaq: ECOR 9 © 2019 electroCore. All rights reserved. 9 ECOR NASDAQ:
Slide 10: TAC-STIM
TAC-STIM TAC-STIM has been developed with support from the 711th Human Performance Wing Performance Optimization Branch of the United States Air Force to provide: • Accelerated Training • Sustained Attention • Reduced Fatigue • Improved Mood Additional information can be found at www.tac-stim.com. T
Slide 11: nVNS – A Platform Technology
nVNS – A Platform Technology Human Rx Products Wellness Products Performance Existing Product Offerings Future Product Offerings Nasdaq: ECOR11 © 2019 electroCore. All rights reserved. 1 ECOR NASDAQ:
Slide 12: Prescription gammaCore – Pipeline of Possible Future Indications
Prescription gammaCore – Pipeline of Possible Future Indications Primary Headache1 Post-traumatic stress disorder2,3 gammaCore is the Opioid Use Disorder2 only FDA-cleared Traumatic Brain Injury2 non-invasive VNS therapy in Parkinson's Disease2 primary headache Acute Stroke2 Gastroparesis2 1 Cleared
Slide 13: Broad Intellectual Property Portfolio
Broad Intellectual Property Portfolio electroCore owns all intellectual property on which the technology relies Expansive pioneering IP coverage of non-invasive, transdermal neuro- >200 stimulation in the neck PATENTS AND PATENT APPLICATONS We have patent coverage extending beyond 2037: ~140 issued
Slide 14: Summary Financials and Guidance
Summary Financials and Guidance Net Sales $ in thousands $16,030 61% 5-year CAGR $8,592 $5,451 $3,496 $2,390 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 Revenue and Cash Q1 2024 revenue: $5.4 million Pro forma cash, cash equivalents and restricted cash of approximately $17.1 million as of March 31, 2024
Slide 15: Summary Revenue by Quarter
Summary Revenue by Quarter Net Sales $ in thousands 96% year-over-year growth $5,443 $5,191 $4,508 103% year-over-year growth $3,551 128% year-over-year growth $2,780 $2,560 $2,157 $1,899 $1,976 1Q 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023 2Q 2023 3Q 2023 4Q 2023 1Q 2024* *Unaudited Actuals Nasdaq: ECOR1
Slide 16: Capitalization Table
Capitalization Table Fully diluted as of June 5, 2024 (in thousands) Common Shares 6,444 Pre-Funded Warrants 1,608 Warrants 1,641 Average Exercise price = $5.37 Options 501 Average Exercise price = $37.03 Restricted and Deferred RSUs/DSUs which vest through 525 Stock Units January 2027 Total 10,719
Slide 17: Experienced Management Team
Experienced Management Team Dan Goldberger Brian Posner Peter Staats Joshua Lev Chief Executive Chief Financial Chief Medical Officer Chief Strategy Officer Officer Officer Nasdaq: ECOR17 © 2019 electroCore. All rights reserved. 1 ECOR NASDAQ:
Slide 18: Potential Catalysts 2024/2025
Potential Catalysts 2024/2025 • Accelerating Revenue in prescription gammaCore • Truvaga revenue growth and scalable metrics • TAC-STIM Black launch and contract wins • Add new product(s) into our channels • Data readouts in concussion, Parkinson’s, and/or stroke Nasdaq: ECOR18 © 2019 electroCore. A
Slide 19: Investment Summary
Investment Summary FDA cleared; proprietary, non-invasive vagus nerve stimulator (nVNS) positioned to unlock Platform Therapy the broad potential of bioelectronic medicine Approximately $16M revenue in 2023; 6-year revenue compounded annual Consistent Topline Growth growth rate (CAGR%) of 68% Gross
Slide 20: Appendix
A Commercial-Stage Bioelectronic Medicine & Wellness Company Nasdaq: ECOR Appendix 20
Slide 21: Leveraging nVNS in the $5 trillion Digital Health and Wellness Market
Leveraging nVNS in the $5 trillion Digital Health and Wellness Market CAGR% in the growing Health and Wellness Economy2 $5.0 trillion Digital Health and Wellness market1 16.9% Connected Wellness market growth estimate over the next 5 years2 1. Digital Health & Wellness Market Size Trends Report, For
Slide 22: Commercial Strategy
Commercial Strategy Grow prescription nVNS business • Our VA Hospital channel is accelerating and can be scaled • Replicate the VA model with Joerns healthcare in a managed care system • Grow our cash pay clinician dispense channel while we work towards broader reimbursement • Add product(s) to our
Slide 23: United States Government Sales
United States Government Sales Indication Lovell Government Services • Lovell is a Service-Disabled Veteran Owned Small Business (SDVOSB) that acts as federal distribution partner across all government contract • Lovell has access to the SDVOSB budget set-aside for VAs to meet their SDVOSB purchase
Slide 24: TAC-STIM in Active-Duty Military
TAC-STIM in Active-Duty Military Active-Duty Use Cases: PUBLISHED FORCE AND MISSION RELEVANT RESULTS1 TAC-STIM Enhances ISR Synthetic Aperture Radar Training TAC-STIM Improves Cognitive Skill After Sleep Deprivation TAC-STIM Boosts Mood and Performance During ISR FMV Training TAC-STIM Improves Diffi
Slide 25: Mechanism of Action
Mechanism of Action nVNS: An Integrative Mechanism of Action There are multiple known mechanism of vagus nerve stimulation: Nasdaq: ECOR25 © 2019 electroCore. All rights reserved. 2 ECOR NASDAQ:
Slide 26: Growth in VA/DoD Prescribing Facilities
Growth in VA/DoD Prescribing Facilities 160 151 147 138 141 140 124 120 117 113 105 106 100 100 96 85 79 80 71 66 67 63 60 53 40 20 0 Cumulative No. VA/DoD Prescribing Facilities ~1,3001,2 VA, DoD, and Indian Health Service treatment facilities 1. https://www.va.gov/health/aboutvha.asp Nasdaq: ECOR2
Slide 27: Growth in Cumulative Revenue Generating Cash Pay Prescribers
Growth in Cumulative Revenue Generating Cash Pay Prescribers 2,500 2,023 2,000 1,843 1,662 1,500 1,451 1,218 1,000 948 654 475 500 310 191 87 114 42 0 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Cumulative No. of Revenue Generating Cash Pay Prescribers
Slide 28: Summary Financials
Summary Financials Net Sales $ in thousands $5,443 68% 6-year CAGR $2,780 $1,899 $1,204 $734 $410 1Q 2019 1Q 2020 1Q 2021 1Q 2022 1Q 2023 1Q 2024* *Unaudited Actuals Nasdaq: ECOR28 © 2019 electroCore. All rights reserved. 2 ECOR NASDAQ:
Slide 29: Global Approvals
Global Approvals FDA-Cleared Indications for the US ▪ The preventive treatment of migraine headache in adolescent (age 12 and older) and adult patients. ▪ The acute treatment of pain associated with migraine headache in adolescent (age 12 and older) and adult patients. ▪ Adjunctive use for the preve
Slide 30: Rx gammaCore Important Safety Information
Rx gammaCore Important Safety Information gammaCore SapphireTM (non-invasive vagus nerve stimulator) is intended to provide non-invasive vagus nerve stimulation (nVNS) on the side of the neck. gammaCore is indicated for: • The preventive treatment of migraine headache in adolescent (age 12 and older
Slide 31: Truvaga and TAC-STIM Important Safety Information
Truvaga and TAC-STIM Important Safety Information Warnings Do not use Truvaga or TAC-STIM if: • You have an active implantable medical device, such as a pacemaker, hearing aid implant, or any implanted electronic product. • You are in an explosive atmosphere or in the presence of flammable gas mixtu