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 (EVOK) is a biotechnology innovator focused on advancing treatments for gastrointestinal disorders, notably through its FDA-approved GIMOTI® nasal spray for diabetic gastroparesis. This page provides investors and healthcare professionals with essential updates on the company's strategic initiatives, clinical developments, and market progress.
Access real-time announcements including regulatory milestones, financial results, and partnership agreements that shape Evoke's position in specialty pharmaceuticals. Our curated news feed covers critical updates such as prescription adoption trends, distribution network expansions, and intellectual property developments related to nasal drug delivery technologies.
Key areas of coverage include GIMOTI commercialization progress, pharmacy network partnerships, and operational efficiency initiatives. Bookmark this page to stay informed about Evoke Pharma's advancements in addressing unmet needs in gastrointestinal care through its non-oral therapeutic solutions.
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.
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