Is ECOR diluting shareholders?

Read three numbers together: shares outstanding over time (9.0M as of 2026-07-31), warrants that can convert into new shares (42,055 reported), and how much cash runway remains (~14.721876145108098 months). A company short on cash with live registrations is structurally likely to issue shares.

Where do these numbers come from?

SEC EDGAR only: the XBRL company-facts API for shares, warrants and cash, and filing metadata for registrations and pricings. Every figure shows its source form, and nothing here is estimated by us beyond the arithmetic stated next to it.

Why might a warrant tranche be missing from the table?

The tranche table is built from the dimensions the company tagged in its own 10-Q or 10-K XBRL. A tranche the filer chose not to dimension does not appear, and its absence proves nothing: the exhibits remain the ground truth. Everything shown carries the filing it came from.

Dilution profile // every instrument, one screen, from SEC filings

electroCore, Inc. (ECOR)

CIK 1560258 · all EDGAR filings →

Overall dilution risk

MEDIUMworst of 4 computed signals (offering ability)

= the worst band among the computed sub-ratings, no hidden weighting

Offering ability

MEDIUM$3.7M registered

= total registered offering amount from the fee exhibits of live registrations (bands: $1M / $20M)

one or more live registrations had no structured fee data, so the true total is AT LEAST this

Overhead supply

LOWwarrants = 0% of O/S

= warrant shares outstanding divided by current shares outstanding (bands: 20% / 50%)

warrants only; converts, ATMs and equity lines are not in free structured data, so the true overhead is AT LEAST this

Historical dilution

MEDIUM+51% O/S in 3y

= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative

a reverse-split-sized cliff is in this window; read the chart

Cash need

MEDIUM~14.7 months of runway

= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

the company itself flagged going-concern doubt

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

Latest: 9.0M shares as of Jul 31, 2026 (10-Q). Share count fell from 71.2M to 4.7M between Nov 1, 2022 and Mar 1, 2023, a pattern consistent with a reverse split (roughly 1-for-15); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

Going-concern warning

auditor flagged substantial doubt

The company itself flagged going-concern doubt in a filing.

Full breakdown: cash runway tool · source filing →

Warrants

Warrants outstanding: 42,055 underlying shares, as reported Mar 31, 2026 (10-Q).

Reported exercise price: $5.3 (aggregate figure as tagged; individual tranches vary).

Balance-sheet fair value of warrants: $216.9M as of Sep 30, 2021.

Rough fully diluted estimate: 9.1M = 9.0M O/S + 42,055 warrant shares. An estimate, not a filing figure: it ignores converts, options and RSUs, and the two inputs carry different as-of dates.

Convertible notes

Note	Principal	Carrying	Conv. price	Rate	If converted
Non Convertible Notes Payable	$5.2M	—	not tagged	—	—

Notes exactly as the company dimensioned them in its 10-Q filed Aug 6, 2026 →. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding	9.0M	Jul 31, 2026
+ Warrants (aggregate, as tagged) (if exercised)	42,055	Mar 31, 2026
Fully diluted estimate	9.1M	+0.5% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

Registered offering capacity on live registrations: $3.7Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3Oct 3, 2025$3.7M registeredfiling →

S-3Jan 24, 2025no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

S-1Jul 10, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 0 executed · 1 registered.

UPDATEOct 24, 2025Prospectus update — often a resale registration, not necessarily new capital424B3 →

REGISTEREDOct 3, 2025S-3 registration — capacity to sell shares, not a sale yetS-3 →

EFFECTIVEJul 24, 2025SEC declared a registration effective — selling can beginEFFECT →

REGISTEREDJul 18, 2025S-3/A registration — capacity to sell shares, not a sale yetS-3/A →

REGISTEREDJan 31, 2025S-3/A registration — capacity to sell shares, not a sale yetS-3/A →

REGISTEREDJan 24, 2025S-3 registration — capacity to sell shares, not a sale yetS-3 →

EXECUTEDNov 29, 2024Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →

UPDATEJul 23, 2024Prospectus update — often a resale registration, not necessarily new capital424B3 →

EFFECTIVEJul 22, 2024SEC declared a registration effective — selling can beginEFFECT →

REGISTEREDJul 18, 2024S-1/A registration — capacity to sell shares, not a sale yetS-1/A →

REGISTEREDJul 10, 2024S-1 registration — capacity to sell shares, not a sale yetS-1 →

EXECUTEDJun 4, 2024Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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