Evoke Pharma Inc Stock Price, News & Analysis

Evoke Pharma, focusing on gastrointestinal diseases, announced marketing initiatives for GIMOTI, its nasal spray for diabetic gastroparesis (DGP). The program aims to increase awareness and trial among healthcare providers by providing samples primarily to gastroenterologists and advanced practice practitioners. A recent study indicated that 20-40% of DGP patients struggle with oral medication absorption, leading to significant interest from physicians in prescribing GIMOTI. Evoke hopes this initiative will enhance access to its treatment for those with DGP.

Evoke Pharma has announced its membership in the International Foundation for Gastrointestinal Disorders (IFFGD) Industry Council, aiming to enhance support for patients with diabetic gastroparesis. This membership allows Evoke to participate in biannual meetings focused on industry insights. Additionally, Evoke will sponsor the IFFGD’s 30th Anniversary Digestive Health Virtual Walk in August 2021, aiming for participants to collectively walk 10,950 miles as part of Gastroparesis Awareness Month. This initiative highlights the significant unmet medical need for new treatments in this area.

Evoke Pharma (NASDAQ: EVOK) reports positive findings from a recent market research study on GIMOTI (metoclopramide) nasal spray. Conducted by EVERSANA, the study reveals an 81% intent to prescribe GIMOTI, up from previous figures, including 90% among targeted gastroenterologists. Awareness of GIMOTI has also risen significantly, with 46% of targeted GIs reporting high awareness. The data suggests that GIMOTI is increasingly recognized as an effective treatment for diabetic gastroparesis. Evoke anticipates further discussion on these findings at the upcoming GI ReConnect Conference.

Evoke Pharma announced that its patent No. 11,020,361 for Gimoti (metoclopramide) nasal spray is now listed in the FDA's Orange Book, enhancing intellectual property protection. Gimoti is FDA-approved for treating symptoms of acute and recurrent diabetic gastroparesis and is the first non-oral option available for this condition. The new patent extends protection until at least 2029. President David Gonyer expressed confidence in Gimoti's potential to improve patient quality of life by offering a unique treatment method.

Evoke Pharma announced the issuance of US patent No. 11,020,361 for its Gimoti nasal spray, enhancing intellectual property protection for treating diabetic gastroparesis. This patent, valid until at least 2029, is expected to be listed in the FDA’s Orange Book. Gimoti is the first outpatient non-oral treatment for gastroparesis, approved by the FDA in June 2020, targeting symptoms related to gastric emptying delays. The company aims to position Gimoti as the preferred treatment choice in the gastroparesis market.

Evoke Pharma has launched an innovative social media campaign aimed at educating and supporting patients with diabetic gastroparesis (DGP). This campaign, in partnership with EVERSANA, utilizes Facebook to create dedicated pages for GIMOTI, a nasal spray treatment, and a community page called DGP-n-Me. The initiative addresses a significant gap in patient education and community support, catering to an estimated 16 million DGP patients in the U.S. GIMOTI is the first FDA-approved nasal delivery treatment for this condition, offering an alternative when oral therapies fail.

Evoke Pharma (NASDAQ: EVOK) announced the appointment of Vickie Reed to its board of directors, succeeding Ann Rhoads, who is retiring after over eight years. Vickie Reed brings extensive experience in finance and strategic leadership within the biotechnology sector, having previously raised over $2 billion in financing at Mirati Therapeutics. Evoke Pharma focuses on developing treatments for gastrointestinal disorders, notably its FDA-approved drug GIMOTI, a nasal spray for diabetic gastroparesis.

Evoke Pharma reported significant growth in Q1 2021 with 293% rise in product sales and a 235% increase in prescriptions for Gimoti. The company expanded its prescriber base by 87%, aiming to enhance sales through targeted marketing strategies. Despite a net loss of $2.6 million for the quarter, up from $1.8 million, Evoke's cash reserves stand at $18.2 million, supporting operations into Q1 2022.

Additionally, a notice of allowance from the USPTO is expected to bolster Gimoti's patent protections.

Evoke Pharma, Inc. (Nasdaq: EVOK) plans to release its first quarter 2021 financial results on May 12, 2021, after market close. A conference call is scheduled for the same day at 4:30 p.m. ET, with dial-in numbers provided for domestic and international callers. Evoke focuses on gastrointestinal (GI) disorders, specifically with its product GIMOTI, a nasal spray for diabetic gastroparesis. This condition affects millions by delaying gastric emptying, impacting medication absorption. GIMOTI is currently the only FDA-approved treatment for this disorder.