Evoke Pharma Inc Stock Price, News & Analysis

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.

Evoke Pharma, Inc. (Nasdaq: EVOK) has priced an underwritten public offering of 5,000,000 shares at $2.50 per share, aiming for gross proceeds of $12.5 million. The offering includes a 45-day option for the underwriter to purchase an additional 750,000 shares. Expected to close around January 19, 2021, the funds will support working capital, commercialization, R&D activities, and potential technology acquisitions. Laidlaw & Company (UK) Ltd. is the sole book-running manager for the offering.

Evoke Pharma, Inc. (Nasdaq: EVOK) announced plans for a public offering of common stock with an underwriter option for an additional 15%. The shares are to be sold entirely by Evoke and will be subject to market conditions. Proceeds will fund working capital, commercialization, R&D activities, and potential technology acquisitions. The offering follows a previously filed shelf registration statement with the SEC. Laidlaw & Company is the sole book-running manager. This press release is not an offer to sell securities in jurisdictions where it would be unlawful.

Evoke Pharma reported promising results from a recent survey on GIMOTI, its newly launched treatment for diabetic gastroparesis. The survey, conducted in December 2020, involved 104 healthcare practitioners and indicated strong intent to prescribe GIMOTI, with 79% of targeted gastroenterologists and 89% of non-target gastroenterologists expressing positive prescribing trends. Notably, GIMOTI's unique nasal delivery method stands out as an alternative to oral treatments, addressing significant patient needs. The company's leadership expressed optimism over the results, paving the way for enhanced commercial efforts in 2021.

Evoke Pharma, focused on treatments for gastrointestinal diseases, reported its Q3 2020 financial results, highlighting the commercial launch of GIMOTI, a nasal treatment for diabetic gastroparesis, in partnership with EVERSANA.

The net loss was approximately $2.1 million, or $0.08 per share, compared to a loss of $1.6 million, or $0.07 per share, in Q3 2019. Operating expenses rose to $2.1 million driven by commercialization efforts. As of September 30, 2020, cash and equivalents stood at $6.3 million, expected to fund operations into Q2 2021, excluding potential GIMOTI revenue.

Evoke Pharma has announced the commercial launch of Gimoti (metoclopramide) nasal spray, designed specifically for adults suffering from acute and recurrent diabetic gastroparesis. This treatment allows for medication absorption via the nasal mucosa, bypassing gastrointestinal issues common in these patients. Approved by the FDA in June 2020, Gimoti offers a novel alternative to traditional oral medications, which can be ineffective due to unpredictable stomach emptying. With support from EVERSANA, the launch aims to address a significant market need and improve patient outcomes.