ECOR - Earnings call transcript Q1 2020

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day, ladies and gentlemen and welcome to electroCore's First Quarter 2020 Earnings Conference Call and Webcast. Currently, at this time all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions] Also as a reminder, this conference call is being recorded.

At this time, I'd like to turn the conference over to your host Hans Vitzthum of LifeSci Advisors. sir. ahead, go Please

Hans Vitzthum

and all operator, today's participating call. thank you, for you in Thank

Dan Officer; XXXX. on Medical Chief Chief me quarter is today Goldberger, Joining are available for results Executive of available Q&A. Dr. the the Staats, electroCore release released be March Financial Peter website. and copy electroCore's the will Chief XX, company's Officer ended for Earlier A Officer. Posner, Brian press

be that make I'd laws, begin, you to These involve forward-looking to are from our statements trends operating meaning during statements. the like Any results the company's those and forward-looking examination statements call statements. cause pursuant which to differ could statements, implied these securities current will historical we Before are upon anticipated the or All provisions forward-looking and and that of our limitation, actual this that Litigation Securities not of events including by statements materially Safe based of statements deemed remind to Private Reform include estimates be material assumptions. made federal XXXX. within in should risks statements contained without Harbor call uncertainties of facts, management that the the future or expectations Act of financial are this forward-looking various

not undue should reliance place you Accordingly, on these statements.

that XXXX. events, Exchange call May the and associated future company's business, forward-looking live except to the Securities with please obligation any required electroCore as list because a revise uncertainties new whether intention by contains is company's or the information, description XX, law of and only This or filings today projections, the the and For as disclaims or otherwise. or with conference risks broadcast of accurate statements, update see any Commission. financial time-sensitive information of

with over I'll Dan. that, the turn to And call

Dan Goldberger

to thanks with turning review an call over us going operational for Brian you, everyone, today. to the results. Thank joining I'm before update, Hello, and our Hans. financial to begin

You'll headache electroCore in early is stages therapy of the for of patients. that commercialization gammaCore recall our proprietary

New into update on COVID-XX as I utmost It remain are qualifies to the under our to and of Jersey our to of access that health and gammaCore non-invasive Before ensuring have vagus state challenges headache stimulation and serve lead individuals that, we specifics, continued treat want experiencing without the nerve our and conditions remain getting who currently goes headache employees active. operations however, an pandemic. essential external ongoing saying to are committed and managing that vulnerable as the the guidelines opportunities and a or patients, constituents safety importance. both We pain. with nVNS cluster and of business migraine electroCore these result their an remains therapy

and operational by normal execute and business deploying the to developing has financial long-term disruptions designed growth The minimize to crisis and activities, multifaceted our preserve objectives. ability to of set company initiatives responded a to our its

including we restrictions, requiring possible, distancing limitations visitor increased state cleaning safety, the disinfecting, of team following guidelines, to facilities, safety in and members remotely, cancellation business and work employees, most events travel protect ensure local of frequency our are communities, physical suppliers health on To well-being where and non-production-related federal to practices, all customers, and facilities. access of to and

supply on products The managing chain and minimize shipping manufacturing schedule and and company is disruptions. is to its inventory

revenue, more I'll United discuss and globe, everything notably currently unprecedented Administration the moment in that continue caused While activities has disruptions our a in growth possible Veterans plans, in business including execute on continued in are channels we're Kingdom. as the pandemic to detail traction across to the doing producing the sales

have therapy if the patients gammaCore the issues that treat suffering use approved submitted virus. would are of us in permit We respiratory leverage use therapy on or emergency by to the FDA allow of authorization the that application our duration emergency. that to to the may to COVID-XX symptoms EUA opportunities proprietary time, nVNS an patients for announced emerging same previously believe we assist the brought At we from

have leverages The studies nVNS prior indications, includes the They our airway respiratory induced reactive symptoms prevention market other including of currently or preclinical to COVID-XX our COPD conducted, that disease, CE in EUA European of adults. in are which the bronchoconstriction, exercise nVNS pilot asthma, hypothesis work of This maybe and that treatment with Mark could approved disorders. in bronchospasm, patients. together gammaCore studies and those support Union past for beneficial to we

In started confirmed of trial, Vagus IIT diagnosis COVID-XX Valencia, Clínico Assessing a or be to targeting with patients for Nerve Study This Stimulation of of in gammaCore COVID-XX hospitalized investigator-initiated presumed Respiratory patients the positive. COVID-XX randomized Spain, study SAVIOR Hospital Carlos Universitario has de Symptoms. a in a Dr. open-label is is XX that Tornero enrolling an suspected called

mechanical for ventilation. The primary need endpoint is the

and supplemental onset levels. To five ventilation include enrolled. endpoints been requirements, cytokine have mortality, delay oxygen of Secondary patients date,

its SAVIOR-X in formal nVNS the flagship study, to study a by recruit is the hospital the Allegheny Pittsburgh. of States, been symptoms patient Cheema for planned Network COVID-XX has General is United is total. which Dr. in in as XX subjects Health Hospital, the initiated to Tariq first This first examining expected treatment at shortly, enroll Allegheny

see the improved are In in patients use these leading Cytokines many their to will worsening the that and the COVID-XX oxygen blunting hoping patients. that is to or of storm two breathing be cytokine improve can supplemental the condition through nVNS of investigators of measured. COVID-XX with studies, either also

that and several take of is COVID number in spread in based with location studies these of environment. current for the Recruitment on fluctuates to level subjects hospital the months as likely

health in care institutions launch highly to also here several regarded studies. other discussions the States with United in We're similar

may Importantly, indication new technology. these potentially the our studies, favorable lead an results to if of for investigator-initiated important

A Theoretical we Neuromodulation: journal has in the Vagus Technology Hypothesis COVID-XX: peer COVID-XX, With available on Nerve That and paper Experience, paper open a via published entitled a Neural Stimulation of access. Early Symptoms comment that at Respiratory Clinical Use Treat reviewed announced Associated Interface. Final is to recently been Non-invasive

first of more up growing continues American least quarter X,XXX the results. the therapy. demonstrate to of Turning fourth metric have of the and physicians' efficacy and with of to from prescription, X,XXX of By end at quarter, now gammaCore This XXXX. at written safety one awareness the the our end than operating comfort physicians gammaCore

fourth XXXX, the to revenue XXXX. Total the of was quarter update. we rising XXXX XX% paid for of in our $XXX,XXX as compared in Total $XXX,XXX to months the quarter we for therapy was $XXX,XXX first first revenue within of During from first sequential provided growth had to X,XXX the in XX X,XXX XXXX quarter fourth quarter that of guidance XXXX. range April quarter in $XXX,XXX of the the

driven our continued was we opportunities two primarily are Consistent with quarter's prior where focus reliably getting paid. specific revenue by on growth

of First, Administration second, Health Health the Federal which Kingdom's Service. and Service. United encompass the Supply Department And Defense, Schedule Indian Veterans eligible entities, National

Federal saw the covered in healthcare with Supply million of VA FSS providers lives approximately XXX,XXX for Beginning recall or Schedule headache, whom that some encompasses FSS XX XXXX.

of first XXXX, a channel. we facilities, of year, and see military Last during in of growth Administration redeployed focus compared we metrics, important to to the treatment key resources XXXX. our positive on as Department Defense products XX, the XX quarter as Veterans result. And significant purchased gammaCore fourth during to quarter continue sales this

$XXX,XXX, paid XX% DoD the of months XXXX months Also, XX% the first from $XXX,XXX shipped to of of company first quarter up therapy a quarter facilities, VA of in from VA to XXX, fourth in led the during the XXXX, during X,XXX to XXXX. paid quarter therapy quarter in and from Growth XXXX. fourth revenue, of in increase sequential of and DoD the the

a impaired, access patients since We were to mid-March. solid been severely trajectory sequential But before access the on our and physicians have growth their to pandemic.

to quarter. Importantly, to end bellwether the we including Center, sell into continued Walter Medical Reed facility, the facilities, the of new subsequent

the month, travel ability and May, flat, to prescribing XXXX, access average Through paid per pandemic first ability months the That's the March. gain our of We of April January first DoD, and has from in to our to to months April the physicians to VA XXX that are therapy XXXX facilities facilities. DoD XXX the compared relatively compared and of through impaired COVID-XX VA an of shipped despite to fact quarter. to therapy week

shipping which VA-based enables physicians prescribing trained provide patients at the delivering gammaCore, started directly to on patients patient experience, home, subsequently year, gammaCore their virtual totally earlier by therapy directly telehealth portal. our the console, a to this to We a is web who hosting

require patients engagement We see against with signs competitive believe an in-person clinic. advantage business starting to injected environment. that that be seen sales by challenging We're host staff are to and care a current performance, which recent VA encouraged few a days, certain planning are therapies, hospitals with meetings, professional. hopeful consultation In a health virtual field our our in-person very we've our over can a in

Regarding we for Health previously guidance, recommended Service. the the and adult across of Care National acute the gammaCore the headache and patients, United for of Kingdom, in Health Institute that, treatment National preventive reported Excellence, cluster its the in use final

now XXXX has previously new XXXX that been extended September announced mechanism, payment to April medtech through and to will the Additionally, program innovation has through of the could extended mandate sustainable which the indicated extend long-term first NHS lead for gammaCore it gammaCore. that us reimbursement eligible makes technology program again was funding which

nVNS therapy the in as important developments view general benefits and these We of specifically. additional gammaCore of validations

currency XXXX, of to total is $XXX,XXX outside of decreased decrease from XXXX. the revenue to the the in quarter revenue to recognition timing and The fourth the attributed During $XXX,XXX due of quarter first U.S. in revenue fluctuations. exchange largely

And of Not in in the pressure year. XXX, X,XXX from our Paid the Kingdom the remainder affect the patient the fourth United U.S. grow on COVID-XX the revenue has that first of impact in therapy new Kingdom in the XXXX, United the to XXXX. channel, starts. of pandemic quarter could ability quarter of to months put of this actually outside increased surprisingly, from

of channels, in U.S. commercial sales distribution growth appears This year, our notable cadence and have in quarter. benefit growth reallocated experienced channel. sequential away payer report Turning in now We the is April commercial to into first slow months the the management continued And XXXX. partners continued commercial we late paid because pharmacy last activities, to trend therapy. from that our resources

preferred to commercial August. corner. in announcement ESI is a more lives, driver on to our turned that comprehensive of has early a a It's conclude that We'll therapy. the provide channel basis paid potential access commercial of But too we of months one gained millions update, recent

additional In received light update that, previously the terms cost clearance FDA study. announced that decision to clinical Premium an and in March made prevention migraine in we measure we XXXX, in II the savings difficult of the terminate as the of

while that of termination. collected in target enroll amount note While prior the approximately to from are study XXX the the to which XXX of in enrollment XXX termination, a to we study we original we're to data terminating was the able we were prior significant XXX analyzing. to process early, have patients, the We ultimately

the with further the large randomized Premium seeing the is in as the clinical largest that controlled United adult forward enrollment to we trial work migraine lower in prevention of look States. data We prevention II market. the migraine to Even very device penetrate

There that are Pittsburgh in to in be and previously. several SAVIOR in studies are clinical forward utility X non-invasive from as the nerve results to available. X more trials other speak investigator-initiated Spain of broad gammaCore, the ongoing studies gammaCore they considered that exploratory. those stimulation underway in These vagus addition become we potential use of indications discussed would Still trials exploring and look to we SAVIOR of

down our effective meeting. June end directors to Cox our Jim Directors. XX, our Chairman, the preparation recap Carrie stepping annual prior wanted would to Board shareholder announced changes that on March Board We to April be and from recent of Colucci the and for I of stepping down X, that XXXX at XXXX, Tullis the would be Nick In meeting

guidance to independent in service. a Atieh. Carrie, current thank and Michael the them Carrie time critical Board personally was evolution to for invaluable during as Chairman Nick by I and our company Jim member its their provided want succeeded

execute John, XXXX. We serve Cuneo their appointments more and Thomas all device on Peter turnaround Gandolfo, of commercial John our us are effective to that diverse the industry and with April medical proven look Peter contributions. streamlined also to organizational forward as we leaders plan. Tom, experience very X, announced well I and Patton, continue will

future, our shareholder other among Board to at things, a only implement are if, split shareholders to the time our to if give the stock. advisable becomes the topic some to of preserve reverse the authority in and asking liquidity we NASDAQ or of listing common On our meeting improve it

XX, June bid minimum price temporarily listing we that XXXX we to a the future. maintain maintaining $X be While into rules a the tolling NASDAQ for bid will cannot is until assured be able

review going Brian? Brian I'm point financials for the of to call over this items. a our to and turn guidance other At

Brian Posner

Thanks, Dan.

electroCore $XXX.XXX range For within $XXX,XXX we XXXX sales provided in reported ended in the our of that quarter quarter $XXX.XXX of update. XX, net fourth XXXX of March compared the the to and to guidance April XX $XXX,XXX

the the indicated, increase to growth VA and revenue XXXX reflects Kingdom. sales within in quarter Dan As of compared fourth in continued United

VA of VA of increased the between the sequentially fourth first quarter months lower and XX% to from growth sales XXXX XXXX. months and the quarter XXXX. XX-day $XXXXXX of in was offering and price sequentially therapy. discrepancy due fourth of launch XXX paid XXXX in a therapy shipped at Revenue per XXXX revenue average DoD to Paid to in the quarter in rate from XX% of in increased DoD to paid the therapy of from the first month of $XXX,XXX quarter a the of The largely

months therapy U.S. to of decreased to sequentially sequentially from XXXX currency quarter driven outside first of Revenue of quarter rate in exchange was U.S. the fourth months from recognition growth the discrepancy $XXX,XXX the the the paid The of XXXX. from XXXX. revenue increased in outside Paid timing the XXXX the fluctuations. quarter quarter of in revenue and $XXX,XXX in XXXX therapy in by shipped X% XXX first and fourth between of of

consistent of XXXX in comparable down that reduction $XX comparable the decrease period the approximately in for expenses to approximately quarter with XXXX. the of period implemented to XXXX. expenses plan $X.X for approximately from by million in first approximately the declined June the $X.X expenses quarter cost XX% $XX.X SG&A first primarily we and operating driven in XXXX Total million a million XXXX in marketing compared XX% first sales in million were

by and reduction development. the year investment ago or near-term XX% with decreased $X.X in this its quarter first to significantly million million R&D of expenses period, research the $X.X reducing consistent the strategy company's XXXX versus of in is

from quarter During and transition million quarter net of with in XXXX, in $X connection the charge Medical XXXX. XXXX as to the the GAAP its to compared new net was loss first operations quarter Officer. a recorded of restructuring million the of first of $XX.X for Chief first a of $XXX,XXX severance-related GAAP company loss the

of loss expense. tax EBITDA quarter for XXXX. from defines net XXXX operations as Adjusted restructuring adjusted and EBITDA net operations compensation income of severance-related excluding The first with as of $XX.X stock million and for compared the operations company loss EBITDA other adjusted to loss operations the was from associated the legal fees income stockholders' expense, total a $X.X in GAAP million same charges litigation from expense, other from period and

securities and to included March XX been at net at cash loss adjusted Cash in $XX.X tables million the non-GAAP A compared operations operations provided from GAAP our approximately of totaled approximately marketable XXXX. and as million release financial equivalents $XX.X statement afternoon. December XXXX this reconciliation from to has EBITDA press in XX,

first raised with $X Subsequent end its operating state Board the New the company stock certain of and company including the Lincoln stock sales Program. also of from shareholders of received Protection Capital quarter to purchase million from sale of the million and company's of to Paycheck $X.X partial due drawdown million losses Jersey the some to members Park proceeds the Federal company affiliates agreement $X.X existing the of Directors. gross of The and of

have eligibility our belief time. requirements we receive program for public of not the scrutiny request has faith subject good there loan. and of other will or properly increasing scrutiny to Program guidance can some become no that be that there official note satisfied changing the Despite of Regarding Paycheck limited PPP, the have been and been loan of requirements companies assurance and loans repayment the of all Protection and the for we or that over that all been a we regulatory interpretations

the March quarter million for ended XXXX. fourth million $X.X used of XX, for was cash quarter down from XXXX the Net $X.X approximately

of of $X.X for included XXXX The use cash approximately first purchases million inventory. previously committed quarter of of

average The XXXX of operating further and for is to be any company expenses. expects future obligation lower have the does taking the company reduce cash not to burn its quarterly it material inventory balance because steps its purchase

beyond the to we expected second reduce and million for XXXX Specific excess its products cash The million. and operating will anticipate operating on ability are quarter, to of that be revenue based in its cash be and that burn $X expenses. company's the of requirements commercialization success $X and will $XXX,XXX between

and achieve to Due uncertainties adverse these a There as potential to on the operating its from are the uncertainties to order risks impact current need as plan of including operating first the its may COVID-XX in projections its reduce operations these assumed significantly risks ability quarter its business and the and more result its cash significant results flow than pandemic. activities fund XXXX. of company to to beyond

now turn And back over Dan. call the to I'll

Dan Goldberger

stimulation key Brian. performance quarter trends patient to We're our stage with technology, population. for difficult that and has it continue goal to business growth. pleased our we've continue made while I long-term to to to you, of are gammaCore available ultimate remainder forecast trajectory and with of drive consistent broadest the take our And the remain this ongoing the our we actions COVID-XX of positive noninvasive the Thank first during the set the believe year, vagus pandemic making possible nerve

Staats I the to Dr. the we'll Thank all. point, with our line Peter available and ask us, note Medical open Chief Officer. this that to operator you At for want is questions

Operator

question a proceed of conducting BTIG. question-and-answer Ryan session. Please with your from be time, question. this At Our now [Operator first line Zimmerman with you. the Thank is we’ll Instructions]

Ryan Zimmerman

than of providers expected I'm indication advantage about? question. of most a what think indication, of that? relative that came The color we what taking give prevention since in terms quicker can taking to are come for we you're Thanks that's seeing and result if should you expect certainly some the migraine Dan I kind wondering of just you. Thank expected. How historically, as us

Dan Goldberger

we've we for enthusiastic always were point. prescribers the while Thanks prevention on the migraine gammaCore that earnings been that And Yes. for the of be cohort -- that solution. And a been headache to a could limitations out call the full There's been much spend they're really waiting and with that just expanded COVID-XX the didn't course about cohort, haven't of to there back question Ryan. were on so able our starting full a label time to force package, on we reach of label but starting take sales advantage we yet.

given it's in with reason we So past who most to to guys to our this and our the customers solution. expressed sales have go engaged a customers to existing interest wait and back get until decided complete have importantly

upbeat starts slower very physicians' frustrating it. and just would It's run get pandemic new in ability we're the the like. that than about we a So that it's little bit to with short patient

Ryan Zimmerman

what parse that at gross were Thank the out wondering just of these Yes, in kind could what where of -- as you inventory? about, you at then understood. this was of, of late that just the wonder you of revenue a talk up I to result you if are margins XXXX? if kind purchasing to recognition were nicely your and durability what your you. were margins all internationally? relative I'm And levels can Was gross quarter. that drove some related

Dan Goldberger

Yes.

engaged are Romaniw, able executive initiatives really of So in sharp and a various in you're aggressive overhead the summer Mike our of to but lot increasing reductions Part that beginning operations XXXX revenue fixed the number. a that And Brian room still is coming the that. all spread base. up it initiatives Part we together. over to very have larger reduction are expense and is have on expenses place, expense being in of pick it our volume absorption of on

continue fixed to same over to with the just expand the going gross margins higher arithmetic see you're of expense. So volumes

Ryan Zimmerman

apologize. got Thanks back Okay, for me. question. that’s I’ll it queue for -- and taking then the I it. in And hop

Dan Goldberger

Ryan. Thanks,

Operator

line the [Operator Instructions] question. The Ramakanth H.C. with Please Wainwright. with proceed next of question Swayampakula comes from your

Swayampakula Ramakanth

is from you. Thank Wainwright. RK This H.C.

Dan Goldberger

RK. Hi,

Swayampakula Ramakanth

you're Good afternoon, from me. Dan and doing Brian. hope I A well. few questions

and were scripts. The to months, quarter. being growth rewrote who on the these How folks paid of the from new subscribers in the months first previous XXX versus much kind the paid X,XXX of

Dan Goldberger

it's to the right RK, exactly question ask. So,

that out that We refilled breaking -- in from to time breaking new But future. we're with not prescriptions. the being we're out information historically look detail. have been we'll prescriptions established now systems, doing our And going that not for we've the at

Swayampakula Ramakanth

Okay. Fine. fine. That's

VA how of a operating. the couple is So on questions

VA the telehealth And B easy are up being difficult of state how First every VA patients? patients? operation how to understand their and is their of regulations. is What question and work in A. to not their out part terms with treat how uniqueness it patients? of that federal and of a how to working is, all, course, the state's each That's, neurologists not the to have or with they're trying -- does for part of these the between hearing facilities deal just physicians I'm opening you

Dan Goldberger

had So you're and starting meetings census of local now the sales own their right is We've of ICUs RK. decisions the absolutely VA going based around several in campus to making our their patients the live on professionals. in with schedule VA on country are communities. virus Hospitals what's their Each

patients that's of clinic in in And several a VAs sign. very country So of headache the see starting in good again. are certain to the parts

That therapy very, said, very received. of has our virtual gammaCore well implementation been

but aware, it's technology VA initiative now accelerated the really weeks, the pandemic. system eight the last several over because probably You're years a of for been and telehealth within has

patient not notion can train do to directly ship that patient therapy the at in-service with telehealth the consult neurologist prescribe can into have they a and the many the facility therapy we a patient the gammaCore really and does patient The And customers all. a our hospital have of come embraced and to can their in and home.

therapies by third-level be second are that professional. and to other healthcare have with that a delivered contrast in That's injections

care leverage system And been that by platform of the to move about. virtue continuum up able in excited telehealth fact that we so completely we've the the is of can so, the VA

Swayampakula Ramakanth

a Since you six good. therapy I how to because do But upsurge is there a understand script procedure, weeks. a things whereas so at same leverage it how is the Very back? trying demand? get not during through just would the demand this a this a I'm procedure open up, things device I How some you like big how lost like eight of a demand, time market, -- this should is student device, loss, good being there will the last worked is it's a about? considered, think, come Or it's where there we are system? a to of. you is nVNS think it the pent-up not loss a see in a Do not once it's when see is of you If pent-up said, as obviously

Dan Goldberger

Yes.

constantly evolving complicated it's and So situation. a

National about flat. our Before VA I'm facilities. we -- hospitals scaling the the plans were growth and understood that the from calling the very think pandemic, getting our the the Service. reimbursement business entities NICE based pandemic and United And in States the the are is we FSS in DoD on about our since guidance solid I we excited for we on relieved operations very were Health United excited Kingdom

has our business but flat. many dramatically So reduced, been stayed have other businesses

the we're to system as that increasingly States to growth in so VA sequential return that And solid able XX%-plus to going returns be optimistic the to normal. I'm United

the Ryan a there that our Now significant of case. pent-up therapy That's to prescribers migraine base gammaCore are prevention important treatment notion indications, able we who believe about cluster use mentioned, gammaCore treats for that being for excited of four and And label important that that treatment as do and and specialists. migraine of that headache armamentarium the expectations of very when and therapy knows headache the Knife sort both an prevention the is ahead Army in On of treatment. prevention is Swiss preventative from of acute headache now demand is. cohort top the came and

So Unfortunately, to I out do we ground the able indication. to sales on really demand executives start know as is our and be don't the that. can there get we'll think hit when expanded pent-up detail

Swayampakula Ramakanth

my expand for last to on Swiss Knife. trying And your I'm Okay. question, Army

you So COVID-XX FDA patients? you -- how taking of color the be Thank regulatory body to conversations now What all all are And into you with you. working regulation -- having trying EUA questions. would on Thank the get with the at sort for into treating the on EUA? the and right are helpful. any application the

Dan Goldberger

the Yes, And for you question. of thank course.

on is be you to us. speculate communication we've it know As of asked can't with really They've or the whether speculate process will don't new questions. the ultimately we questions, on not EUA relatively the denied. of had many cleared we We've -- or clearance, ongoing the agency. correspondence answered timing But that nor can

from other in EUA about and to how study formal important other most that trials country investigators issue therapy publication up in conversations it's experience investigator-initiated And is in of these patients clinical the the is the in peer-reviewed or efficacy. with much with Neuromodulation in sort demonstrating as two deploy now. the so parts an said, anecdotal talking about very That clinical some either use, of and getting SAVIOR-X not benefiting a therapy, the exciting running it the are SAVIOR-X right all in very,

Swayampakula Ramakanth

Good luck. again. Thanks

Dan Goldberger

Thank you.

Operator

Our you. proceed [ph] with your Please [Operator comes from JMP. question next Dave question. with Instructions] Berkeley Thank

Dave Turkaly

talk much prevention I it from what thinking is? you Can potentially I more And with your little quick the think one use us -- it your that frequently. you one would guess about got exact with times studies labeling And that could people treatment should number remind but guys. Sorry be would volume accelerate? of not protocol, recall recall -- late. can't a the how the will protocol of the you using mean that label. people that indication. I sort the I patients need what will

Dan Goldberger

that you want to question? do Peter, address

Peter Staats

that. Sure stab to a take Happy take me let at it.

the it with up twice XX that it's with part it So day use anticipate will clearly the I with its worried. could I'm cluster to of up doses prevention, I'm comes six that three up doses a device -- be XX. devices the And to per sorry itself and built into on prevention. And problem not we the to a with a that we indication. the I'm sorry both think preventive indication twice it's the don't doses I a of device accommodate foresee believe running doses -- dose two a I out daily the migraine, device was don't and built its us with to day. acute patient.

one in of that I is device. of the great our think fact advantages

Dave Turkaly

-- this prevention they starts that you're into guess maybe than more the currently the would be frequently prevention. expect if hold -- I would that it for accounts patient are to just take average that you And mean I your using selling in

Peter Staats

Yes.

look I back kind think step. a of setting us So just

of the is that device is, therapy can for Dan that things an right device advantage advantage is second And also think device. the be One this acute offers and mentioned versus a we that's prescribed I within preventive us telehealth. an one this really that that, happening are now

blocks health do things All which the of we require not as a visit. health care providers other or that of injections we the do care other as face-to-face things many or providers nerve are that all infusions but

those we I of acute a the a an I together we think makes therapy. patient can for the serving in more that things the are as kind Swiss for usable with conjunction with decrease COVID Army we got think of Knife migraine, that of preventive visit, all each patients indication the fact also are this a in need exposure the pooled Dan's indication telehealth

obvious much to patients that. least compared So, as the challenges a can't are in at we to Time But see sales I personally telehealth about have as optimistic am like. The else we everybody team would to get tell. will our this. approach

Dave Turkaly

you, and that good Thank and for luck congrats.

Peter Staats

you, much. thank very Yes,

Operator

[Operator Instructions] Thank back we additional questions. you. for will the Dan Goldberger turn At floor this to no have additional remarks. time, I

Dan Goldberger

we in our back kind bye. healthy report support operator you a Good appreciate few Stay everybody's attention Thank out and and and to second there. quarter on we'll be months greatly progress.

Operator

conference. will This conclude you. Thank today's

participation. your time You disconnect we at may lines your you this thank and for

electroCore (ECOR) 14 May 202020 Q1 Earnings call transcript