electroCore, Inc.

Thank you, sir. You may begin.

Thank you all for participating in today's call. Joining me today are Dan Goldberger, Chief Executive Officer, Brian Posner, Chief Financial Officer, and Dr. Peter Stotz, ElectriCorps' Chief Medical Officer. Earlier today, ElectriCorps released results for the second quarter ended June 30th, 2021. A copy of the press release is available on the company's website. Before we begin, I'd like to remind you that management will make statements during the call that include forward-looking statements within the meaning of the federal securities laws, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in this call that are not statements of historical facts should be deemed to be forward-looking statements. All forward-looking statements, including without limitation, Our examination of operating trends and our future financial expectations are based upon the company's current estimates and various assumptions. These statements involve material risk and uncertainties that could cause actual results or events to differ materially from those anticipated or implied by these forward-looking statements. Accordingly, you should not place undue reliance on these statements. For a list of descriptions of the risk and uncertainties associated with the company's business, please see the company's filings with the Securities and Exchange Commission. Electric Core disclaims any intention or obligation, except as required by law, to update or revise any financial predictions or forward-looking statements, whether because of new information, future events, or otherwise. This conference call contains time-sensitive information That is accurate only as of the live broadcast today, August 5th, 2021. And with that, I'll turn it all over to Dan. Thank you.

Thank you, Rich. Hello, everybody, and thank you for joining us today. I'm excited to report that Q2 2021 revenue was a record $1.3 million. Gross margins have expanded to more than 70%, and net cash used in operations decreased over 20%. to $3.2 million for the second quarter of 2021 from $4.1 million for the first quarter of 2021. For the second quarter of 2021, total revenue of $1.3 million increased approximately 69% from $753,000 in the second quarter of 2020. Revenue from the government channel increased 88% to $779,000 for the quarter ended June 30th, 2021 as compared to $415,000 in the second quarter of 2020. A total of 85 VA and DOD military treatment facilities have purchased Gamma Corps products through June 30, 2021, as compared to 79 through the first quarter of 2021 and 67 through the second quarter of 2020. Note that there are approximately 1,300 VA healthcare facilities and 475 military hospitals and medical clinics. So we still have plenty of growth ahead of us. Revenue from outside the United States through direct channels increased 50% to $369,000 in the second quarter of 2021 as compared to $247,000 during the second quarter of 2020. These figures do not include newly appointed stocking distributors, which contributed $18,000 of revenues from Canada and Western Europe during the second quarter of 2021. During the quarter, we expanded GammaCore's global availability through our international distribution relationships. In April 2021, the company announced that East Agency will serve as the exclusive distributor of the GammaCore Sapphire NVNS in Qatar. In June 2021, we announced an exclusive distribution agreement with Chromax International Corporation to serve as the exclusive distributor of the Gamma Core Sapphire NVNS in Taiwan and ultimately China. Net revenue from the U.S. commercial headache channel was $104,000 for the second quarter of 2021 as compared to $91,000 in the second quarter of 2020. I'm going to take a few moments to explain our initiatives in this important opportunity. We currently service approximately 12 million covered lives through pharmacy benefit managers, including CVS Caremark and Express Scripts, for patients that have a benefit design that does not differentiate between drugs and devices. These patients are subject to a copay of between $25 and $75 per month, depending on their specific benefit plan. We also have a small number of patients that are paying cash for access to GammaCore therapy. Our unique level two healthcare common procedure coding system or HCPCS code K1020 non-invasive vagus nerve stimulator became effective April 1, 2021. This is an important milestone in our quest to obtain reliable insurance coverage for gamma core therapy. Previously, all of our prescriptions were coded as miscellaneous, which made for an easy initial coverage denial for an insurance company. Armed with our unique code, we are ramping up discussions with insurers. We've engaged policy reporter to help us negotiate with an initial list of 30 regional and national benefit providers. Highmark Blue Cross Blue Shield was our first positive benefit determination, and we are now negotiating their fee schedule. I look forward to sharing news of additional payer wins in coming months. More and more Americans have high deductible insurance plans, which means that patients are likely to be faced with a cash pay obligation even when coverage is available. To fill that gap, we've been carefully testing cash pay business models and direct-to-consumer promotions. We had a small amount of revenue in the second quarter from these pilot programs, and we hope to see accelerating growth from our cash pay consumer initiatives in the second half of the year. Mitch DeShawn joined us in May 2021 as our new sales to leverage his longstanding success with cash pay business models. We've also established a customer experience team in New Jersey, led by Lisa Martin, BSN, RN, to support physicians and their patients taking advantage of our cash pay programs. At this point, I'm gonna ask our Chief Medical Officer, Dr. Peter Stotz, to provide an update on our various clinical initiatives. Peter?