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ECOR$7.15-0.14%

electroCore, Inc.

Sector: Electromedical & Electrotherapeutic ApparatusIndustry: Medical - DevicesCountry: USExchange: Nasdaq

Mkt Cap$64.61M
Float & O/S
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DilutionScan read 32 of electroCore, Inc.'s SEC filings and found 6 warrant series, 1 convertible, 1 ATM program, 3 shelf registrations and 1 completed offering on file for ECOR. The latest dilution event on file is ATM sales on Aug 6, 2026. Analysis updated Oct 7, 2026.

Signal8 Summary

5d old

ECOR

Going-concern warning, cash-strapped micro-cap

Business
WeakGoing-concern doubt, 4.6-month runway, $14M net loss
Stock risk
High$76.6M micro-cap, shares +13.4% YoY, 40.8% potential dilution

Snapshot

electroCore is a small medical-device maker growing revenue fast, $32.0M in FY 2025, up 27.2%, with a strong 86.8% gross margin, but it still lost $14.0M and burned $8.3M in free cash flow. Cash sits at only $10.0M against $9.6M of debt, and Signal8 models roughly 4.6 months of runway.

What's Happening Right Now

  • : electroCore will report third-quarter 2026 results after market close on Nov 4, 2026, with a conference call the same day; no figures were disclosed in the notice itself.
  • : electroCore submitted a 510(k) to the FDA on Oct 28, 2026 seeking clearance of its Quell device for chronic chemotherapy-induced nerve pain, backed by a 142-subject trial showing roughly 40% symptom improvement versus 24-33% for sham; the device is not yet cleared for this use.
  • : On Oct 28, 2026, co-CEO Joshua Lev said electroCore is targeting positive adjusted EBITDA in the second half of 2027, aiming to get there by expanding its VA, Quell, and chemotherapy-nerve-pain opportunities; this is a stated goal, not a reported result.
  • : electroCore presented at Planet MicroCap Toronto 2026 on Oct 27-29, 2026, with co-CEO Joshua Lev delivering the company presentation and hosting investor meetings.
  • : On Sept 8, 2026, electroCore named Joshua Lev and Michael Fox co-CEOs following a board succession process, expanded the board to eight members, and adopted amended bylaws tightening proxy-contest advance-notice rules.
  • : Sold $86K net / 11K shares through its at-the-market program, as stated for Jul 1, 2026 to Aug 6, 2026.
  • : Sold $3.90M net / 495K shares through its at-the-market program, as stated for Apr 1, 2026 to Jun 30, 2026.
  • : Sold $3.90M net / 495K shares through its at-the-market program, as stated for Jan 1, 2026 to Jun 30, 2026.

Raise routes on file: active ATM + effective shelf · latest dilution event 89 days ago

Overall Risk
Offering Ability
Overhead Supply
Historical
Cash Need

AI dilution summary

The dominant contractual driver and its mechanism, then each further driver ranked.

Latest dilution event

Aug 6, 2026 · ATM Sale

How we read filings

Every warrant, convertible, ATM and shelf, cited to the filing

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Share count and cash history

Shares outstanding, potential dilution and cash over time

Warrants · 6

What is this?

Exercise price, shares and dates with Pro

Warrant

Issued 2024

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

Warrant

Issued 2024

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

Warrant

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

Warrant

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

June 2024 Private Pre-Funded Warrants

Issued 2024

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

Warrant

Issued 2024

Outstanding

Shares Underlying

Exercise Price

Outstanding
Type
Anti-Dilution
Cashless Exercise
Expiration
Filing link and full terms

Convertibles · 1

What is this?

Principal, conversion terms and dates with Pro

Convertible

Outstanding

Principal

Conversion Price

Remaining principal
Shares on conversion
Interest rate
Maturity
Filing link and full terms

ATM · 1

What is this?

Capacity, sold to date and agent with Pro

ATM program

Issued 2024

Active

Total capacity

Sold to date

Remaining capacity
Sales agent
Agreement date
Commission
Filing link and full terms

Shelf · 3

What is this?

Capacity, dates and baby-shelf status with Pro

S-3 shelf registration

Issued 2025

Active

Total capacity

Remaining

Filed
Effective
Expires
Baby shelf
Filing link and full terms

S-3 shelf registration

Issued 2025

Active

Total capacity

Remaining

Filed
Effective
Expires
Baby shelf
Filing link and full terms

S-3 shelf registration

Issued 2022

Expired

Total capacity

Remaining

Filed
Effective
Expires
Baby shelf
Filing link and full terms

Offerings · 1

What is this?

Proceeds, price, shares and agent with Pro

Offering

Issued 2025

Gross proceeds

Price per share

Shares issued
Warrant coverage
Placement agent
Filing link and full terms

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Exercise prices, conversion terms, shelf headroom and the filing sentence behind every number.

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