electroCore, Inc..
ECOR.US | Manufacture of medical and dental instruments and supplies
electroCore, Inc. is a commercial-stage bioelectronic medicine company. It is focused on developing and commercializing therapies for a range of conditions using non-invasive vagus nerve stimulation (nVNS). Its primary product is GammaCore, a handheld medical device that delivers mild electrical sti...Show More
Better Health for All
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electroCore's core products, such as gammaCore, are medical devices focused on improving health outcomes. Clinical trials demonstrate significant benefits, including a 25% reduction in migraine days, 3.12 fewer migraine days per month, and 5.9 fewer cluster headache attacks per week for users.
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The company's products have no established negative health outcomes.
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During the COVID-19 pandemic, gammaCore Sapphire CV received FDA Emergency Use Authorization for treating asthma exacerbations in COVID-19 patients.
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The company's products are FDA-approved for preventative treatment of cluster headache and migraine, indicating a strong focus on prevention.
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However, the safety record shows common adverse events (headache 8%, dizziness 6%, neck pain 6%) which, while mild and transient, are above the thresholds for positive scores.
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The price accessibility of gammaCore is a concern, costing $200 per month, and it is not included in most major insurance formularies.
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While co-pay programs offer up to $100 per month for insured patients and up to $300 for uninsured patients for up to 12 months, Medicare, Medicaid, and Tri-Care patients are ineligible.
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This creates significant access barriers for vulnerable populations, with limited access for those without commercial insurance or specific government programs.
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The company's risk transparency is moderate, with product labeling and FDA information provided, but no specific data on marketing or disclosure practices.
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The company mentions ongoing clinical trials and research efforts, but no specific percentage of R&D budget allocated to health improvement is provided.
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The company is investigating the use of nVNS for conditions like mTBI/PTSD, and gammaCore was designated a breakthrough device for treating PTSD, but there is limited practical support for mental health needs.
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Clinical trials are mentioned, but specific details on ethical conduct are not provided.
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Fair Money & Economic Opportunity
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electroCore, Inc. is a bioelectronic medicine company that develops and commercializes medical devices, specifically GammaCore for headache treatment.
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The company's core business does not involve lending, insuring, moving, or storing money, nor does it offer financial products or services to consumers. While mentions patient financial assistance programs for co-pays related to its medical device,
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these are not financial services provided by electroCore, Inc. as defined by the 'Fair Money & Economic Opportunity' value. Therefore, all KPIs under this value are not applicable to the company's operations.
Fair Pay & Worker Respect
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No specific, concrete data points were found in the provided articles to assess electroCore, Inc. against any of the KPIs for Fair Pay & Worker Respect. The articles primarily focus on financial performance and executive compensation figures, lacking information on living wage coverage, median employee compensation (to calculate CEO pay ratio), collective bargaining, safety incident rates, pay equity, worker engagement, employee turnover, labor law violations, insecure contract share, or health insurance coverage for the general workforce.
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Fair Trade & Ethical Sourcing
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No evidence available to assess electroCore, Inc. on Fair Trade & Ethical Sourcing.
Honest & Fair Business
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The company has not incurred any ethics-related regulatory fines in the past three years.
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One inadvertent late filing of a report relating to a common stock purchase in March 2023 was disclosed.
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A formal whistleblower protection policy exists, including a confidential hotline and email,
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and the audit committee is responsible for establishing procedures for anonymous submission of concerns.
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The company has not mentioned any financial restatements in the past five years.
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Its independent registered public accounting firm, Marcum LLP, audits all assets and liabilities.
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The board has determined that seven out of eight directors are independent, representing approximately 87.5% of the board.
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The company has adopted a Code of Business Conduct and Ethics, an Insider Trading Policy, and a Related Party Transaction Policy,
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and declares compliance with its Corporate Compliance Program, including an annual aggregate spend limit for California medical/healthcare professionals.
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Approximately 50% of ethical claims are independently verified, including financial statements by Marcum LLP and cybersecurity assessments by external experts.
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Kind to Animals
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The company used animal models to demonstrate that its device improves breathing before human trials.
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Animal research was also conducted to identify mechanistic effects of Vagus Nerve Stimulation (VNS) relevant to stress-related disorders and to show mitigation of fear and freezing responses in animal models.
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The company engages in animal testing for medical analysis and clinical research.
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No explicit animal testing policy is stated.
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No War, No Weapons
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The provided articles do not contain specific, quantifiable evidence for any of the KPIs related to the 'No War, No Weapons' ethical value. While one article mentions that the company's medical devices have 'military applications', it does not provide any data on revenue from such applications, R&D investment scope, screening processes, or any other metrics required by the rubric to assign a score.
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Therefore, all KPIs must be omitted.
Planet-Friendly Business
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No specific, company-wide quantitative data is available for electroCore, Inc. (ECOR.US) regarding its environmental performance. The provided articles detail carbon emissions and related metrics exclusively for electroCore UK, Ltd., a subsidiary, without explicitly stating that this data applies to the entire parent company's operations.
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Therefore, no KPIs can be scored based on the provided evidence.
Respect for Cultures & Communities
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electroCore, Inc. has no reported cultural appropriation incidents, and its operations do not appear to impact cultural contexts, making specific cultural impact assessment protocols, FPIC processes, or cultural site protection measures not applicable.
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The company maintains a Corporate Compliance Program, requiring annual compliance training for all employees, contractors, and agents involved in commercial activities.
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This training includes the Compliance Program and relevant company policies.
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The company's Code of Conduct outlines a process for reporting and investigating violations, which could encompass cultural incidents.
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Employee ratings for equality, diversity, and inclusion are 3.4 out of 5 stars based on 12 anonymous employee ratings, which is equal to the industry average for the Pharmaceutical and biotechnology sector, though this rating has decreased over the last 12 months.
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Safe & Smart Tech
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The company provides an annual privacy and security training program for all employees, covering awareness of cyber threats, password hygiene, and incident reporting.
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It also mentions using encryption to secure sensitive information.
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The company disclosed a material weakness in internal controls over vendor management, which led to an unauthorized payment.
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This is considered one incident of unauthorized data use. The company has extensive discussions of regulatory compliance, including FDA, EU, and UK regulations, and has obtained FDA clearances and a CE Certificate of Conformity for its product.
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Zero Waste & Sustainable Products
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The company has implemented a customer recycling program as a waste reduction initiative.
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No specific data on the effectiveness or scale of this program is provided. The company reports no waste disposal violations or citations in the provided articles.
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