Evoke Pharma Inc Stock Price, News & Analysis

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.

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.