Evoke Pharma Inc Stock Price, News & Analysis

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.

Evoke Pharma announced a significant achievement with the U.S. Patent and Trademark Office granting a Notice of Allowance for its nasal spray Gimoti (metoclopramide), aimed at treating gastroparesis. The patent, covering the method of use for this innovative delivery system, extends protection until at least 2029. Gimoti, which received FDA approval in June 2020, offers a critical option for diabetic patients struggling with oral medication absorption. This development enhances Evoke's intellectual property portfolio and marketing strategy.

Evoke Pharma, Inc. (Nasdaq: EVOK) announced a fireside chat scheduled for April 1, 2021, at 1:00 PM ET, hosted by Yale Jen, Senior Biotech Analyst at Laidlaw & Company. The event will feature discussions with Dr. Kostas Sideridis and Dr. Richard McCallum, focusing on GIMOTI, Evoke's nasal spray for treating diabetic gastroparesis. This is a significant advancement as GIMOTI is the first FDA-approved treatment specifically for this GI disorder. Investors can submit questions for the panel prior to the event via email.

Evoke Pharma, Inc. (NASDAQ: EVOK) announced its fourth quarter 2020 financial results, reporting net sales of approximately $23,000 and a net loss of about $2.3 million, or $0.09 per share. For the full year, the net loss was about $13.2 million, compared to $7.1 million in 2019. The company launched GIMOTI™, a treatment for diabetic gastroparesis, with early traction noted in sales. A $14.4 million capital raise is expected to extend cash runway into the first quarter of 2022. Despite challenges from the pandemic, positive feedback from gastroenterologists has been reported.

Evoke Pharma, Inc. (Nasdaq: EVOK) has announced plans to release its fourth quarter and full year 2020 financial results on March 11, 2021, after market close. The company will hold a conference call at 4:30 p.m. ET to discuss these results. Evoke is focused on developing treatments for gastrointestinal disorders, notably GIMOTI, a nasal spray for diabetic gastroparesis. This condition affects millions and can delay gastric emptying, leading to significant GI symptoms. The company emphasizes that some statements are forward-looking and subject to risks.

Evoke Pharma, Inc. (Nasdaq: EVOK) has completed a follow-on offering of 5,750,000 shares at $2.50 per share, generating approximately $14.4 million in gross proceeds. The funds will be allocated for working capital, commercialization, research and development, clinical trials, and potential acquisitions. Laidlaw & Company (UK) Ltd. managed the offering under a previously filed shelf registration. This financing aims to enhance Evoke's capacity to treat gastrointestinal disorders, focusing on GIMOTI, a nasal spray for diabetic gastroparesis patients.