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ROCKAWAY, N.J. - electroCore, Inc. (NASDAQ:ECOR), a commercial-stage bioelectronic medicine company with a market capitalization of $37.35 million, announced that Thomas J. Errico, MD, has been elected as Chairman of the Board, succeeding Peter Cuneo who is departing from the Board of Directors, effective September 2, 2025.
Mr. Cuneo, who served as a Board member since 2020 and as Chairman since 2021, will continue as a strategic advisor to the company. According to the company statement, his leadership was instrumental in electroCore’s turnaround during his tenure, though InvestingPro data shows the stock has declined nearly 68% over the past six months.
Dr. Errico, a co-founder of electroCore, previously served as Chairman of the Nominating and Governance Committee. He brings continuity to the leadership transition as the company focuses on its bioelectronic technology products.
"Dr. Errico has been a consistent advocate for shareholders," said Dan Goldberger, CEO of electroCore, in the press release.
electroCore develops and markets non-invasive bioelectronic technologies, including its prescription products gammaCore and Quell neurostimulator, which treat chronic pain syndromes through neuromodulation technology. The company also offers Truvaga and TAC-STIM products for general wellness and human performance. Despite challenging market conditions, the company maintains an impressive gross margin of 85.5% and has achieved 30% year-over-year revenue growth. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other US stocks.
The leadership change comes as the company continues to position itself in the bioelectronic medicine market, though InvestingPro data indicates the company faces near-term profitability challenges. The information in this article is based on a company press release and InvestingPro analysis.
In other recent news, electroCore reported a 20% year-over-year increase in revenue for the second quarter of 2025, totaling $7.4 million. Despite this revenue growth, the company experienced a net loss of $3.7 million, translating to a loss of $0.44 per share. In corporate developments, Elena Bonfiglioli, a Microsoft healthcare executive, has been appointed to the electroCore Board of Directors, replacing the retiring Peter Cuneo. Additionally, Kelly Benning has been named Senior Vice President of electroCore’s consumer wellness division, Truvaga, bringing extensive experience from her previous roles in digital health and AI-enabled technologies. The company also announced a partnership with former NFL star Greg Buttle to promote its Truvaga Plus device, aimed at enhancing relaxation and mental clarity. These recent developments reflect electroCore’s ongoing efforts to expand its leadership team and product outreach.
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