BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith continues its investigation on behalf of electroCore, Inc. (“electroCore” or the “Company”) (NASDAQ: ECOR) investors concerning the Company and its officers’ possible violations of federal securities laws.
In June 2018, electroCore completed its initial public offering (“IPO”) in which it sold 5.2 million shares of its common stock at $15.00 per share.
On May 14, 2019, the Company announced first quarter 2019 financial results that fell short of investors’ expectations, reporting $410,000 net sales and operating loss of $14.2 million.
On this news, the Company’s share price fell $1.58, nearly 29%, to close at $3.75 per share on May 15, 2019, thereby injuring investors.
Then, on September 25, 2019, the Company revealed that the U.S. Food and Drug Administration requested more information and analysis of clinical data for electroCore’s 510(k) submission, which seeks an expanded indication for the use of gammaCore, the Company’s treatment for pain associated with episodic cluster headache.
On this news, the Company’s share price fell $0.79, over 23%, to close at $2.57 per share on September 25, 2019, thereby injuring investors further. Since the IPO, electroCore’s stock has traded as low as $1.25 per share, significantly below the $15 offering price.
If you purchased electroCore securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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