Electrocore, Inc. · NASDAQ:ECOR
Electrocore — Investor Presentation (January 2024)
30 slides from Electrocore's investor presentation, Jan 16, 2024
Slide 1: A Commercial-Stage Bioelectronic Medicine & Wellness Company
VW) q SON electroCore’ A Commercial-Stage Bioelectronic Medicine & Wellness Company Nasdaq: ECOR
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: Sapphire: 1st FDA-cleared non-invasive vagus nerve stimulator
ome —_> ~~ Sapphire™ # : : = 1st FDA-cleared non-invasive @) vagus nerve stimulator ee. 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
Slide 4: Investment Summary
Investment Summary FDA cleared; proprietary, non-invasive vagus nerve stimulator (nVNS) positioned to unlock the broad potential of bioelectronic medicine Platform Therapy Approximately $16M revenue in 2023; 5-year revenue compounded annual Consistent Topline Growth growth rate (CAGR%) of 61% Gross
Slide 5: Benefits of nVNS (Non-invasive Vagus Nerve Stimulation)
Benefits of nVNS (Non-invasive Vagus Nerve Stimulation) iv) The vagus nerve affects multiple organs and systems We. vv) @ treatment targets vv) vv) Activates multiple mechanisms of action Evidence supports a variety of current and future Personal use, pocket size, portable, easy to use, products Com
Slide 6: Commercial Strategy
Commercial Strategy Grow prescription nVNS business + Our VAHospital channel is accelerating and can be scaled + Replicate the VA model with Joems healthcare in a managed care system + Grow our cash pay clinician dispense channel while we work towards broader reimbursement + Add product to our presc
Slide 7: 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 roughly 1,300 Department of Veterans Affairs and Military Treatment Facilities Growth in Rx headache in the U.S commercial channel driven by cash pay busine
Slide 8: United States Government Sales
United States Government Sales IN PARTNERSHIP WITH Lod G@LOVELL. (~~~; Mee Qo, Lovell Government Services Government Services “ev + 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 S
Slide 9: TAC-STIM
TAC-STIM TAC-STIM has been developed with support from the 711t* 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. ‘TAC-STIM
Slide 10: TAC-STIM in Active-Duty Military
TAC-STIM in Active-Duty Military Active-Duty Use Cases: TRAINING + Foreign Language Initial Acquisition Program + School Houses * Special Ops training + Other specific training environments MISSION SUPPORT + Preparation + Increase vigilance + Decrease fatigue + Improve performance POST MISSION + Aft
Slide 11: Truvaga
truvaga ember 2022 wi Meet Truvaga Vagus Nerve Science FAQ Support Truvaga quickly works with your body to balance your nervous system, creating a deep, natural relaxation response to calm your racing ‘mind. Helping you think more clearly, sleep more soundly and lve life morefully. SV9Q9, —— = ll Tr
Slide 12: 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 Economy? 16.9% Connected | Preventative Supplements and Nutrition 5.2% Wellness market growth estimate years? Modernized Personal Care over the next 5 Holistic Aesthetics . 4.6% 1. Digs Hea
Slide 13: Cognitive Function and Stress Remain an Unmet Need for Consumers
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(%)' “After Using Truvaga I Feel...” 100% 19% 50% 25% om fecAndoas iessdmesed “Catner | Meteergy Tngroned Sey Happ ii i cca. aa ine @®
Slide 14: Introducing.... Truvaga Plus
Introducing.... Truvaga Plus Welcome to Truvaga! We're thrilled you've chosen Truvaga Plus truvaga as part of your wellness journey. Our Truvaga vagus nerve therapy is now better than ever with Truvaga Plus. It has new app-enablement and rechargeable features, along with unlimited" sessions. © Downl
Slide 15: nVNS - A Platform Technology
nVNS - A Platform Technology Rx Products Wellness Products pone Performance as aS <wagg! Existing o Product Jo Offerings > Future Product Offerings bg. BOX electroCore’ NASDAQ: ECOR
Slide 16: Prescription gammaCore - Pipeline of Possible Indications
Prescription gammaCore - Pipeline of Possible Indications ® Primary Headache’ ® Post-traumatic stress disorder > Opioid Use Disorder? W® Traumatic Brain Injury? non-invasive VNS therapy in primary headache gammaCore is the only FDA-cleared ® Parkinson's Disease? ®® Acute Stroke ® Gastroparesis? 1 Cl
Slide 17: Broad Intellectual Property Portfolio
Broad Intellectual Property Portfolio electroCore owns all intellectual property on which the technology relies Expansive pioneering IP coverage of >200 non-invasive, transdermal neuro- stimulation in the neck PATENTS AND PATENT APPLICATONS, We have patent coverage extending beyond 2037: ~140 issued
Slide 18: Summary Financials and Guidance
Summary Financials and Guidance Net Sales Sinthowands a a a mw ae + $16,000 + 1 1 i f 61% 5-year CAGR% ' ' f 1 1 1 $8,592 H 1 1 1 f f 1 1 1 1 $3,496 i H $2,390 1 1 1 1 f f || LJ ! | FY 2019 FY 2020 FY 2021 FY 2022 L_ _F¥2023 | Revenue and Cash Guidance (Dated January 16, 2024)" Q4 2023 revenue guida
Slide 19: Capitalization Table
Capitalization Table Fully diluted as of January 1, 2024 (in thousands) Common Shares 6,003 Pre-Funded Warrants 613 Warrants 924 Average Exercise price = $4.35 Options 516 Average Exercise price = $38.42 Restricted Stock Units 252 RSUs which vest through January 2027 Total 8,308 3G clectrocore NASDA
Slide 20: 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 i | x RMS XTANT eg CELLECTAR @ D Xp usec a MEDIAL cian JOHNS HOPKINS : , 0, SCHOOL of MEDICINE PREMIER wellfleet cs *, FEYSOU
Slide 21: Potential Catalysts 2024/2025
Potential Catalysts 2024/2025 Accelerating Revenue in prescription gammaCore Truvaga Plus commercial launch TAC-STIM contract wins PTSD label Data readouts in concussion, Parkinson’s, and/or stroke bg. BeKelectroCore NASDAQ: ECOR
Slide 22: Investment Summary
Investment Summary FDA cleared; proprietary, non-invasive vagus nerve stimulator (nVNS) positioned to unlock the broad potential of bioelectronic medicine Platform Therapy Approximately $16M revenue in 2023; 5-year revenue compounded annual Consistent Topline Growth growth rate (CAGR%) of 61% Gross
Slide 23: A Commercial-Stage Bioelectronic Medicine & Wellness Company
VW) q SON electroCore’ A Commercial-Stage Bioelectronic Medicine & Wellness Company Nasdaq: ECOR
Slide 24: Mechanism of Action
Mechanism of Action nVNS: An Integrative Mechanism of Action There are multiple known mechanism of vagus nerve stimulation: bg. S@X electroCore’ we NEUROPROTECTION Decrease inflammation and protect brain integrity PAIN MITIGATION Decrease pain signaling and recognition CORTICAL SPREADING DEPRESSION
Slide 25: Growth in VA/DoD Prescribing Facilities
Growth in VA/DoD Prescribing Fac 160 138 141 140 120 100 80 63 60 53 40 20 0 > > a é < t & shee <4 hepsi guna abouna sp eKelectroCore’ 2. pepe/wnsiearemi/about/race NASDAQ: ECOR
Slide 26: Growth in Cumulative Revenue Generating Cash Pay Prescribers
Growth in Cumulative Revenue Generating Cash Pay Prescribers 2,000 1,843 1,800 1,662 1,600 1,451 1,400 1,218 4,200 1,000 948 800 654 B00 475 400 310 191 “2 ao ow oe ll o—_ o L_| Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 = Cumulative No. of Revenue Generating
Slide 27: Summary Revenue by Quarter
Summary Revenue by Quarter Net Sales $ in thousands vedi year-over-year growth 1 t 1 1 128% ! 1 year-over-year growth pa i ! 1 f 1 $3,551 ' H ' 1 ‘ f $2,780 ! H $2,560 ! ! $2,157 f $1,899 $1,976 H ' 1 1 f f f 1 f f 1 1 f 1 1 1 f i 1 1Q 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023" 2Q 2023" 3Q 2023 : : NASDA
Slide 28: Global Approvals
Global Approvals FDA.Cleared Indications for the US + The preventive treatment ofmigraine 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 adut patients + Adjunctive use forthe preventiv
Slide 29: Rx gammaCore Important Safety Information
Rx gammaCore Important Safety Information gammaCore Sapphire™ (non-invasive vagus nerve stimulator) is intended to provide non-invasive vagus nerve stimulation (nVNS) on the + The preventive treatment of migraine headache in adolescent (age 12 and older) and adult patients + The acute treatment of p
Slide 30: 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 fiammable gas mixtur