Slide 1: A Commercial-Stage Bioelectronic Medicine Company
ya S@X electroCore’ | =a" | A Commercial-Stage Bioelectronic Medicine 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: electroCore At-a-Glance
electroCore At-a-Glance NASDAQx Headquarters: Market cap: Recent close: Cash & marketable securities (6/30/20): ECOR Basking Ridge, NJ ~$68M (7/13/20) $1.78 (7/13/20) $18.9M Sapphire™
Slide 4: Experienced Management Team
Experienced Management Team Daniel Goldberger RMS XTANT Peter Staats, MD 9 »)) Chief Executive Officer seat Chief Medical Officer sete PREMIER 35 years en nosunccn, 33 years y Brian Posner Eric Liebler QuesTcoR »AMARIN Chief Financial Officer ceiscran Galliqua. SVP of Neurology Pa 35 years " = 30 ye
Slide 5: Investment Summary
Investment Summary FDA cleared, proprietary, non-invasive vagus nerve stimulator positioned to unlock the broad potential of bioelectronic medicine Platform Therapy Cluster headache and migraine estimated to affect more than 36 million’ Large Initial Market people in the U.S. Attractive Revenue Mode
Slide 6: gammaCore Sapphire FDA-cleared non-invasive vagus nerve stimulator
® ) gammaCore 5 Sapphire™ 18 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 Also cleared for the prevention of migraine and treatment of acute migraine Reeurring reve
Slide 7: nVNS and the Benefits of gammaCore
nVNS and the Benefits of gammaCore Benefits of nVNS gammacCore for Headache @ The vagus nerve affects multiple organs @ FDAcleared for prevention and treatment and systems of cluster headache, prevention of migraine and treatment of acute migraine @ Activates multiple mechanisms of action @ Use alon
Slide 8: Unmet Need in Migraine & Cluster Headache
Unmet Need in Migraine & Cluster Headache MIGRAINE 36 million U.S. patients! 400,000 U.S. patients* Triptans represent 80% of prescribed acute therapies Up to eight 15-180 min attacks per day Considered one of the most painful conditions known; a “suicide headache” 40% of patients are dissatisfied o
Slide 9: Growth in gammaCore Prescribers
Growth in gammaCore Prescribers' ” BOK clectroCore™ a 3,000 2,500 2,000 1,500 1,000 500 563 Qi 2018 997 Q2 2018 1,480 Q3 2018 All Prescribers 1,827 Q4 2018 2,850 2,735 Q12019 Q22019 032019 Q42019 Q12020 + Represents U.S. prescribers who have written at least one prescription
Slide 10: Reimbursement Pathway
Reimbursement Pathway Aligned to stakeholder experience PHYSICIANS, Commercial Payer Response 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 Heal
Slide 11: Commercial Progress through PBMs
Commercial Progress through PBMs 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 curren
Slide 12: Active Channels With Revenue Growth Opportunities
Active Channels With Revenue Growth Opportunities Driving Department of Defense sales through the Veterans Administration and Military Treatment Facilities Growth in the UK by leveraging: 1) Innovation Technology Program Award for cluster headache and 2) support from the National Institute for Healt
Slide 13: Paid Months Of Therapy By Quarter
Paid Months Of Therapy By Quarter 3000 2500 2000 1500 1000 500 3019 2020 Market Channel =US Commercial mVA/DOD = OUS Data through 6/30/20 WWE clectrocore’ BOK electroCore yee
Slide 14: Federal Supply Schedule Opportunity
Federal Supply Schedule Opportunity An efficient call point for direct sales >10 ~400,000 million patients covered lives saw VA healthcare between the Veterans providers for headache Admin., active military in 2018" facilities and the Indian Health Service Migraine grew 10-fold in the VA between 200
Slide 15: gammaCore - Platform Technology with Vast Potential
gammaCore - Platform Technology with Vast Potential gammaCore is the only FDA cleared non-invasive VNS- therapy WWE clectrocore’ BOK electroCore yee NEUROLOGY / PAIN Cluster Headache" INFLAMMATION “ Reactive Airway Disease? Migraine’ Rheumatoid Arthritis Post-traumatic headache Sjogren's Syndrome? T
Slide 16: Strong Rationale as a Potential COVID-19 Treatment
Strong Rationale as a Potential COVID-19 Treatment Testing the hypothesis that nVNS can improve the condition of patients through either improved breathing or blunting the cytokine storm that contributes to the worsening of COVID-19 in many patients + Emergency Use Authorization (EUA) approved by FD
Slide 17: COVID-19 Investigator Initiated Trials (IITs)
COVID-19 Investigator Initiated Trials (IITs) Multiple ongoing IITs are assessing the potential utility of nVNS in COVID-19 respiratory symptoms SAVIOR-1 Study Assessing Vagus Nerve Stimulation in COVID-19 Respiratory Symptoms Lead investigator: Dr. Carlos Tornero Hospital Clinico Universitario de V
Slide 18: Broad Intellectual Property Portfolio
Broad Intellectual Property Portfolio electroCore owns all intellectual property on which the technology relies Expansive pioneering IP coverage of >4 65 non-invasive, transdermal neuro- stimulation in the neck PATENTS AND PATENT APPLICATONS We have key patent coverage extending out through 2033, in
Slide 19: Summary Financials
Summary Financials $ In thousands 40.2018 102019 © 2a2019 += 3.2019 4Q 2019 10.2020 2a 2020 GAAP revenue 368 410 623, 683 675 734 730-750 Research and Development 3,460 3,460 2,510 2,275: 1,623 1,523 SG&A 12,397 11,000 9,388 8,143 7,267 6,561 Operating loss (15,681) (14,211) (12,380) (10,894) (8,608
Slide 20: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation bg. Sex electroCore” ve 102019 2.2019 30.2019 40.2019 1Q 2020 {Sin thousands) GAAP net loss from operations (13,862) $ (12,101) $ (10,688) $ (8,498) $ (7,959) Provision for income taxes = - $ ww $ = Depreciation and amortization 2% $ 2% S$ 99 6 $ 7 S$ 7 Stock-based com
Slide 21: Capitalization Table
Capitalization Table Fully diluted as of March 31, 2020 Common shares** 30,421,427 Exercise prices ranging from $5.68 to $12.60; expirations from Warrants 715,199 April 1, 2021 through August 31, 2022 “ Weighted average exercise price=$8.91, options generally vest Options 3,808,563 over 4-year perio
Slide 22: Investment Summary
Investment Summary Revenue stage, proprietary, non-invasive vagus nerve stimulator positioned to unlock the broad potential of bioelectronic medicine Platform Therapy Cluster headache and migraine estimated to affect more than 36 million Large Initial Market people in the U.S. Attractive Revenue Mod
Slide 23: Appendix
Slide 24: Acute Cluster Headache: ACT 1 & ACT 2
Acute Cluster Headache: ACT 1 & ACT 2 Pooled analysis of Episodic Cluster Headache from ACT 1 & ACT 2 Trials ACT 1 PRIMARY ENDPOINT ACT 2 PRIMARY ENDPOINT RESPONDER ANALYSIS: % Responders with Pain Relief at % All Treated Attacks Pain-Free % Responders at 15 Minutes in > 16 Minutes for 1st Attack at
Slide 25: Acute Migraine: PRESTO Trial
Acute Migraine: PRESTO Trial Pain Freedom Percent Pain Relief 40% Repeated Measures Analysis p=0.0t 30% z zg io «20% rn 2 § a 3 2 10% 0% : 30 Min 60 Min 120 Min 30 Min 60 Min 120 Min I gammaCore (n= 120) I Control (n= 123) 38 clectrocore: Citation: Tassorelli C, Grazzi , de Tommaso M, et al. Non-inv
Slide 26: Cluster Headache Prevention: PREVA Trial
Cluster Headache Prevention: PREVA Trial Reduction in Number of Attacks per Week Percentage of Patients w/2 50% Reduction in Attack Frequency ITT mITT IT mITT = = = = = ¥ 247 ° n=45 n=48 n=37_n=47 we n=45 n=48 n=37 on A 50% 2 40% 3 < 0.001 <0.001 4 p< 0.001 p< 0.001 — ul # 5 20% 6 10% 8 0% I Adjunct