Shares of electroCore Inc. (ECOR) more than doubled (up 155%) on very heavy volume in afternoon trading Monday, after the bioelectronic medicine company said it was issued an emergency use authorization (EUA) by the Food and Drug Administration OK'ing the use of its gammaCore Sapphire CV to help in the treatment of COVID-19 patients. Trading volume soared to 136.7 million shares, enough to make the stock the most actively traded on the Nasdaq exchange, and compared with the full-day average of about 1.1 million shares. "Needless to say, we are very pleased to have received this EUA, and we intend work vigorously to make this novel therapy available to physicians treating known or suspected COVID 19 patients who are experiencing exacerbation of asthma-related breathing difficulty," said Chief Executive Dan Goldberger. The stock has rallied 36% year to date, while the S&P 500 is little changed.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
July 13, 2020 13:48 ET (17:48 GMT)
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