Slide 1: A Commercial-Stage Bioelectronic Medicine Company
A Commercial-Stage Bioelectronic Medicine Company Nasdaq: ECOR Corporate Presentation August 2021
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: electroCore At-a-Glance
electroCore At-a-Glance NASDAQ ECOR Headquarters: Rockaway, NJ Market cap*: ~$72.2M (8/06/21) Recent close: $1.04 (8/06/21) Cash, cash equivalents & marketable securities (Approx. as of 6/30/21)**: $23.7 million gammaCore Sapphire™ * Includes 20.7 million shares newly issued in the July 2021 public
Slide 4: Experienced Management Team
Experienced Management Team Dan Goldberger Brian Posner Peter Staats Chief Executive Officer Chief Financial Officer Chief Medical Officer Nasdaq: ECOR 4 © 2019 electroCore. All rightsreserved. 4
Slide 5: Investment Summary
Investment Summary FDA cleared; proprietary, non-invasive vagus nerve stimulator (nVNS) positioned to unlock Platform Therapy the broad potential of bioelectronic medicine Cluster headache and migraine estimated to affect more than 39 million1 Large Initial Market adults in the U.S. Attractive Reven
Slide 6: gammaCore Sapphire
gammaCore Sapphire™ 1st FDA-cleared non-invasive vagus nerve stimulator ▪ Fast acting, highly targeted, comfortable, easy to use hand-held option ▪ Cleared for the prevention and treatment of cluster headache ▪ Cleared for the prevention of migraine and treatment of acute migraine in adults and adol
Slide 7: nVNS and the Benefits of gammaCore
nVNS and the Benefits of gammaCore The vagus nerve affects multiple organs and systems Activates multiple mechanisms of action Evidence supports possible future treatment for many indications Self-treating and no off-target effects Complementary to existing care Nasdaq: ECOR 7 © 2019 electroCore. Al
Slide 8: Unmet Need in Migraine & Cluster Headache
Unmet Need in Migraine & Cluster Headache 20X MIGRAINE CLUSTER HEADACHE CLUSTER HEADACHE 39 million U.S. adults1 400,000 U.S. patients4 Up to eight 15-180 min attacks per day Indirect costs associated with migraine in the U.S. has been estimated at $19.3 billion (inflated to 2019 (US$))2 Considered
Slide 9: U.S. Reimbursement Pathway
U.S. Reimbursement Pathway Aligned to stakeholder experience Payer Response PHYSICIANS Write a prescription for use at home CURRENT PAYER COVERAGE CVS Caremark, Express Scripts, Highmark Blue Cross Blue Shield, North Dakota Blue Cross Blue Shield, Federal Supply Schedule (VA, DoD, Indian Health Serv
Slide 10: Commercial Headache Reimbursement
Commercial Headache Reimbursement CVS/Caremark gammaCore is reimbursed by CVS/Caremark at a non-exclusionary co-pay of roughly $50 - $75/month for those beneficiaries who have a benefit design that does not differentiate between drugs and devices Approximately five million CVS/Caremark members curre
Slide 11: Medical Benefit Headache Reimbursement
Medical Benefit Headache Reimbursement Positive coverage Example: Highmark Nasdaq: ECOR11 © 2019 electroCore. All rightsreserved. 1
Slide 12: Active Channels With Revenue Growth Opportunities
Active Channels With Revenue Growth Opportunities Driving Department of Defense and Community Care Network sales through the Department of Veterans Affairs and Military Treatment Facilities Growth in the UK by leveraging: 1) Innovation Technology Program Award for cluster headache (transitioning to
Slide 13: Expanding Federal Sales Opportunities
Expanding Federal Sales Opportunities >20 million ~400,000 Migraine More than covered lives between patients grew 10-fold 27,000 the VA (9m1), DoD (9.6m2), and Indian saw VA healthcare in the VA between veterans providers for headache Health Service (2.2m3) in 20184 2004-20125 suffer from across ~1,
Slide 14: nVNS – A Platform Technology
nVNS – A Platform Technology NEUROLOGY/PAIN GASTROENTEROLOGY INFLAMMATION 1 Cleared indications Cluster Headache1 Gastroparesis2 Reactive Airway Disease 2 Independent Investigator Migraine1 Post-operative Ileus2 Asthma exacerbations in initiated studies ongoing Post-traumatic headache2 known or susp
Slide 15: Potential Key Near-term Milestones
Potential Key Near-term Milestones 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 VA / DoD channel revenue growth period UK channel revenue growth period Reestablish commercial headache revenue Positive US payer determinations Northern Ireland and Wales reimbursement announcements Clinical publications re:
Slide 16: 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- >170 stimulation in the neck PATENTS AND PATENT APPLICATONS We have patent coverage extending out through 2033: ~100 is
Slide 17: Summary Financials
Summary Financials $ In thousands 1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 2Q 2021 Net sales 734 753 1,081 928 1,204 1,270 R&D 1,523 1,031 629 1,019 499 825 SG&A 6,561 5,273 4,593 5,414 5,725 5,273 Operating loss (8,013) (5,923) (4,489) (6,323) (5,384) (5,203) GAAP net loss (7,959) (4,742) (4,486) (6
Slide 18: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation 1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 2Q 2021 ($ in thousands) GAAP net loss $ (7,959) $ (4,742) $ (4,486) $ (6,324) $ (5,384) $ (2,894) Benefit from income taxes $ - $ (1,171) $ - $ - $ - $ (885) Depreciation and amortization $ 97 $ 97 $ 95 $ 111 $ 96 $ 96 Stock-bas
Slide 19: Capitalization Table
Capitalization Table Fully diluted as of June 30, 2021 Common shares 69,390,424 Includes 20.7 million shares sold in the July’21 public offering Exercise prices ranging from $5.68 to $15.30; expirations Warrants* 216,944 largely through August 31, 2022 Weighted average exercise price = $4.47, option
Slide 20: Investment Summary
Investment Summary FDA cleared; proprietary, non-invasive vagus nerve stimulator (nVNS) positioned to unlock Platform Therapy the broad potential of bioelectronic medicine Cluster headache and migraine estimated to affect more than 39 million1 Large Initial Market adults in the U.S. Attractive Reven
Slide 21: Indication and Important Safety Information
Indication and 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 and adult patie
Slide 22: Appendix
A Commercial-Stage Bioelectronic Medicine Company Nasdaq: ECOR Appendix
Slide 23: 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