electroCore, Inc. (NASDAQ: ECOR) announced that the first eight patients have been enrolled in a new investigator‑led study of its gammaCore non‑invasive vagus nerve stimulation (nVNS) device for post‑traumatic stress disorder (PTSD). The study, conducted by Acacia Clinics in partnership with the Vagus Nerve Society, will ultimately enroll up to 40 adults and will evaluate safety and efficacy over a 12‑week treatment period.
The primary safety endpoint is the incidence of treatment‑related serious adverse events, while the primary efficacy endpoint is the change from baseline in the Clinician‑Administered PTSD Scale (CAPS‑5) total score at 12 weeks. Secondary outcomes include changes in the PTSD Checklist (PCL‑5) and Clinical Global Impression (CGI) ratings. Successful completion of the study could provide the preliminary data needed to support future regulatory submissions and expand electroCore’s portfolio beyond migraine and cluster headache into the high‑need PTSD market.
The study follows a July 2023 peer‑reviewed manuscript that reported positive effects of gammaCore on cognitive symptoms and sympathetic response in PTSD patients, and builds on the device’s FDA Breakthrough Device Designation for PTSD granted in January 2022. electroCore is providing an educational grant and the gammaCore devices for the trial.
electroCore reported record full‑year 2025 revenue of $32.0 million, a 27 % increase over 2024, and is guiding for approximately 30 % revenue growth in 2026. Gross margin stood at 87 % for 2025, while the company posted a GAAP net loss of $14.0 million and held $11.6 million in cash at the end of 2025. The company also announced that CEO Dan Goldberger will retire effective April 1, 2026, with Joshua Lev named interim president and Michael Fox appointed COO.
The enrollment milestone signals electroCore’s intent to diversify its therapeutic offerings and address a substantial unmet need in PTSD, where only about one‑third of patients achieve full remission with current treatments. By advancing a non‑invasive, adjunctive therapy, electroCore could position itself as a pioneer in a growing bioelectronic medicine segment that is attracting increasing investor and clinical interest.
Dan Goldberger said, “We are encouraged by the growing interest in bioelectronic approaches that may offer patients additional therapeutic options beyond standard of care, particularly for PTSD, where effective treatment options remain limited.” Dr. Danielle DeSouza added, “There remains a significant unmet need for effective adjunctive therapies, and this research will help further our understanding of the role vagus nerve stimulation may play in addressing both the neurological and physiological components of PTSD.”
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