electroCore Announces Listing – GuruFocus.com

ROCKAWAY, NJ, June 23, 2022 (GLOBE NEWSWIRE) — electroCore, Inc. (the “Company”) (ECOR), a commercial-stage bioelectronic medicine company, today announced that it has received approval from the Nasdaq Stock Market (“Nasdaq”) to transfer the listing of its common stock from the Nasdaq Global Select Market to the Nasdaq Capital Market. The Company’s common stock will continue to trade under the symbol “ECOR” and trading of its common stock will not be affected by this transfer. This transfer will be effective as of the opening of the offices on June 23, 2022.

As previously reported, on December 20, 2021, the Company received a letter from Nasdaq informing it of its non-compliance with Nasdaq listing rule 5450(a)(1) (the “Rule”) by not maintaining minimum closing bid price for its common stock on the Nasdaq Global Select Market of at least $1.00 per share for 30 consecutive business days. The Company has been granted 180 calendar days, i.e. until June 20, 2022, to regain compliance with the minimum closing bid price requirement. In response to not having met the minimum closing bid price, the Company submitted an application to transfer its listing from the Nasdaq Global Select Market to the Nasdaq Capital Market.

In connection with the transfer, the Nasdaq granted the Company a second period of 180 calendar days, or until December 19, 2022, to restore compliance with the minimum closing bid price requirement for continued listing. by achieving a closing bid price on the Nasdaq of at least $1.00. per share for 10 consecutive business days. The Nasdaq granted the additional 180-day compliance period because the Company continues to meet Nasdaq’s capital market listing requirements, except for the minimum closing bid price requirement.

The Company intends to continue to actively monitor its compliance with the minimum closing bid price requirement and, where appropriate, will review the options available to resolve deficiencies and restore compliance.

About electroCore, Inc.
electroCore, Inc. is a commercial-stage bioelectronic medicine company dedicated to improving patient outcomes through its noninvasive vagus nerve stimulation therapy platform, initially focused on treating multiple conditions in neurology. The Company’s current indications are the preventive treatment of cluster headache and migraine, the acute treatment of migraine and episodic cluster headache, the acute and preventive treatment of migraine in adolescent, paroxysmal hemicrania, and continuous hemicrania in adults.

For more information, visit www.electrocore.com.

Forward-looking statements
This press release and other written and oral statements made by representatives of electroCore may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements about the activities of electroCore. prospects and plans for clinical and product development; its pipeline or potential markets for its technologies; the timing, results and impact of regulatory, clinical and commercial developments; the Company’s business prospects, the continued listing of the Company’s common stock on the Nasdaq Capital Market and other statements that are not historical in nature, particularly those that use terms such as “anticipates”, “will”, “expect”, “believe”, “intend”, other words of similar meaning, the derivations of these words and the use of future dates. Actual results could differ from those projected in the forward-looking statements due to numerous factors. These factors include, among others, the ability to obtain additional funds necessary to pursue ElectroCore’s business and product development plans, the inherent uncertainties associated with the development of new products or technologies, the ability to commercialize gammaCore™, the impact and potential effects of COVID-19 on electroCore’s business, results of operations and financial performance. of electroCore, and any actions electroCore has and may take in response to COVID-19 and any expectations electroCore may have in this regard, competition in the industry in which electroCore operates and general market conditions . All forward-looking statements are made as of the date of this press release, and electroCore undertakes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. , unless required by law. Investors should review all of the information contained herein and should also refer to the disclosure of risk factors set forth in reports and other filings by electroCore with the SEC available at www.sec.gov.

Contact:
rich rooster
CG Capital
404-736-3838
[email protected]

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