Welcome to our dedicated page for Evoke Pharma news (Ticker: EVOK), a resource for investors and traders seeking the latest updates and insights on Evoke Pharma stock.
Evoke Pharma, Inc. (formerly NASDAQ: EVOK) generated news primarily as a specialty pharmaceutical company focused on gastrointestinal (GI) disorders and diseases, with an emphasis on diabetic gastroparesis. Company press releases repeatedly describe Evoke’s work around GIMOTI, a metoclopramide nasal spray formulation indicated for the relief of symptoms associated with acute and recurrent diabetic gastroparesis in adults. News items often explain why a non-oral formulation matters in a condition where delayed gastric emptying can compromise absorption of orally administered medications.
The EVOK news record includes announcements about GIMOTI’s commercial progress, such as updates on net product sales, prescriber adoption and pharmacy access, as well as business updates tied to Evoke’s GI-focused strategy. Several releases detail intellectual property developments, including a Notice of Allowance and the issuance of U.S. Patent No. 12,377,064 covering the use of intranasal metoclopramide in patients with moderate to severe symptoms of gastroparesis, along with plans to list this patent in the FDA’s Orange Book and extend expected exclusivity.
Regulatory and scientific news also appears in the EVOK feed, including communications about real-world safety data on metoclopramide and tardive dyskinesia and presentations at gastroenterology-focused medical meetings. Later news is dominated by transaction-related announcements, including the definitive agreement under which QOL Medical, LLC agreed to acquire Evoke for cash per share, and subsequent updates on the tender offer and merger process.
For readers reviewing EVOK news today, this page functions as an archive of historical developments: commercial milestones for GIMOTI, GI and diabetic gastroparesis–related research communications, patent and Orange Book updates, quarterly financial press releases, and the sequence of events that culminated in Evoke’s acquisition by QOL Medical and the delisting of its common stock from Nasdaq.
Evoke Pharma reaffirms its commitment to patients with diabetic gastroparesis following the FDA's decision not to approve Vanda Pharmaceuticals' Tradipitant. Evoke's product, Gimoti (metoclopramide nasal spray), remains the sole FDA-approved non-oral outpatient treatment for acute and recurrent symptoms of diabetic gastroparesis in adults.
Real-world data presented at Digestive Disease Week 2023 showed that Gimoti users experienced significant reductions in emergency room visits (-60%) and hospitalizations (-68%) compared to oral metoclopramide over six months. A cost analysis revealed that Gimoti reduced total care costs by approximately $15,000 within the first six months compared to oral metoclopramide.
Evoke continues to focus on improving patient outcomes and expanding access to Gimoti, which has been provided to over 4,000 patients since launch. The company is also positioning itself to respond to new challenges, such as gastroparesis linked to GLP-1 receptor agonists.
Evoke Pharma, a specialty pharmaceutical company focusing on gastrointestinal (GI) diseases, announced its participation in the 7th Annual Gastroenterology and Hepatology Advanced Practice Providers (GHAPP) Conference from September 12-14, 2024, in National Harbor, Maryland. As a four-year meeting sponsor, Evoke Pharma aims to engage with nurse practitioners and physician assistants who manage patients with GI disorders, including gastroparesis.
The company will host a booth to discuss GIMOTI® (metoclopramide) nasal spray, their treatment for diabetic gastroparesis. CEO Matt D'Onofrio emphasized the importance of connecting with advanced practice providers and showcasing GIMOTI's positive impact on patients. Demittre Sorenson, PA-C, from the Center for Advanced GI, highlighted GIMOTI's effectiveness in treating gastroparesis patients, noting its nasal delivery bypasses the dysfunctional gut.
Evoke Pharma (NASDAQ: EVOK) announced its participation in the H.C. Wainwright 26th Annual Global Investment Conference from September 9-11, 2024, in New York City. The company, specializing in gastrointestinal disease treatments, will present on its flagship product GIMOTI® (metoclopramide nasal spray) for diabetic gastroparesis.
Key points:
- Presentation available on-demand to registered attendees from September 9, 2024, at 7:00 a.m. ET
- Archived webcast accessible on Evoke Pharma's investor relations website
- Management to participate in one-on-one meetings with investors
- Focus on recent positive commercial progress of GIMOTI®
This conference provides Evoke Pharma an opportunity to showcase its advancements in GI treatments and engage with potential investors.
Evoke Pharma (NASDAQ: EVOK) reported strong Q2 2024 financial results for GIMOTI, its nasal spray treatment for diabetic gastroparesis. Net product sales grew 47% quarter-over-quarter and 126% year-over-year, indicating an annual run-rate exceeding $10 million. The company achieved record-high prescription fills, with a 75% year-over-year increase and 32% growth compared to Q1 2024. Net loss narrowed to $1.3 million ($0.93 per share) from $1.9 million ($6.70 per share) in Q2 2023. Evoke revised its 2024 guidance to $11-12 million, still reflecting over 100% growth from the previous year. The company believes its current cash position and future GIMOTI sales will fund operations into Q2 2025.
Evoke Pharma (NASDAQ: EVOK) is supporting Gastroparesis Awareness Month in August, collaborating with advocacy groups to raise awareness for millions of patients worldwide. Gastroparesis, affecting approximately 2% of the U.S. population, is a disorder where food moves slower than normal from the stomach to the intestines. Evoke's CEO, Matt D'Onofrio, emphasizes the company's dedication to ensuring diabetic gastroparesis patients receive treatment through their assistance programs.
Evoke's product, GIMOTI® (metoclopramide) nasal spray, launched in June 2020, is the only non-oral FDA-approved outpatient gastroparesis treatment in over 30 years. Over 4,000 patients have received GIMOTI, which has shown significant impact on reducing healthcare facility use and saving patients and insurers over $15,000 in expenses over a six-month period compared to oral metoclopramide.
Evoke Pharma (NASDAQ: EVOK) has announced a 1-for-12 reverse stock split of its common stock, effective August 1, 2024. This decision, approved by stockholders on May 22, 2024, aims to bring the company into compliance with Nasdaq's minimum bid price requirement. The stock will continue trading under the symbol EVOK with a new CUSIP number. Every 12 shares will be converted into one share, with no change in par value or authorized shares. Fractional shares will be paid in cash. The split will affect all outstanding stock options, warrants, and equity incentive plans proportionately. Equiniti Trust Company will act as the exchange agent for the process.
Evoke Pharma reports significant progress in its commercial strategy and positive momentum for its GI treatment product, GIMOTI. The company achieved its highest monthly GIMOTI prescription fills in May 2024 and expanded state Medicaid access. Evoke transitioned its pharmacy distribution to ASPN Pharmacies in November 2023, improving prescription conversion rates. Through Eversana, Evoke also broadened its pharmacy network to include four additional regional pharmacies, improving access in states like Arkansas and Illinois.
Leadership changes include the promotion of Mark Kowieski to Chief Financial Officer. The company focuses on enhancing operational efficiency and plans to continue its growth trajectory throughout 2024.
Evoke Pharma (NASDAQ: EVOK) will present data on GIMOTI®, a nasal spray for gastroparesis, at the 2024 Digestive Disease Week Conference (DDW 2024) in Washington D.C. from May 18-21, 2024. The study focuses on the benefits of GIMOTI for women, who are most affected by gastroparesis. The data demonstrates fewer physician visits, hospitalizations, and emergency department visits compared to oral metoclopramide. The presentation, led by Dr. David C. Kunkel from the University of San Diego Health, is scheduled for May 20, 2024. Evoke Pharma will also have a commercial booth (#737) at the conference.
Evoke Pharma reported a strong first quarter for 2024, with net product sales increasing by 114% year-over-year to $1.7 million. The company saw a 70% growth in prescriber numbers compared to Q4 2023 and reaffirmed its $14 million net revenue guidance for 2024. Challenges included a cyberattack and increased co-pay expenses, but the company remains optimistic, leveraging its partnership with ASPN Pharmacies. The first quarter also saw the company raising $8.8 million through a public offering. Net loss was reduced to $1.6 million from $2.2 million in Q1 2023. Cash position stands at $9.7 million, expected to fund operations into Q1 2025.
Summary not available.