Evoke Pharma Inc Stock Price, News & Analysis

Evoke Pharma reported a significant increase in third-quarter financial performance for 2022, with GIMOTI net sales rising 80% to $832,000 compared to Q2 2022. Prescription fills for GIMOTI also saw a 56% increase, along with a 13% growth in new prescribers, totaling 143. The company transitioned its reimbursement program to vitaCare, leading to a 32% increase in inbound prescriptions. The company’s net loss decreased slightly to $2.0 million or $0.60 per share. With cash reserves of $12.4 million, Evoke anticipates sufficient funds to operate into Q2 2023.

Evoke Pharma (NASDAQ: EVOK) is set to release its third-quarter financial results on November 9, 2022, after market closure. A conference call will follow at 4:30 p.m. ET for detailed discussion of the results. Evoke Pharma specializes in gastrointestinal treatments, notably GIMOTI, a nasal spray for diabetic gastroparesis. This product is currently the only FDA-approved treatment for this condition in the United States, targeting a significant market opportunity.

Evoke Pharma (NASDAQ: EVOK) will exhibit its flagship product, Gimoti, at the 2022 American College of Gastroenterology Annual Scientific Meeting from October 21-26, 2022, in Charlotte, North Carolina. The company is also nominated for the Healio Industry Breakthrough Product Award and will participate in the Disruptive Innovators Awards Program on October 23. Gimoti is designed for adults with acute and recurrent diabetic gastroparesis, a condition impairing gastric emptying. The company aims to improve discussions with GI professionals during the meeting.

Evoke Pharma (NASDAQ: EVOK) announced on September 20, 2022, that the USPTO has issued a Notice of Allowance for patent application No. 16/469,092, covering methods to treat moderate-to-severe gastroparesis with its GIMOTI nasal spray. This patent will contribute to existing FDA-listed patents and will expire in 2037. GIMOTI is the first FDA-approved nasal formulation of metoclopramide for diabetic gastroparesis, enabling effective non-oral medication administration. The Chief Business Officer emphasized the patent's role in protecting clinical trial outcomes and enhancing market presence.

Evoke Pharma, a specialty pharmaceutical company, has announced that its product GIMOTI has been nominated for the Healio Disruptive Innovators Award in the Industry Breakthrough category. GIMOTI is the first FDA-approved nasal spray formulation of metoclopramide for treating acute and recurrent diabetic gastroparesis, which affects drug absorption due to vomiting. Evoke's CEO expressed pride in this recognition as it aligns with their mission to improve treatment options for patients suffering from this condition. Voting for the award is encouraged.

Evoke Pharma announced that its President and CEO, David A. Gonyer, and Chief Business Officer, Matt D’Onofrio, will present at the 24th Annual Global Investment Conference hosted by H.C. Wainwright from September 12-14, 2022, at the Lotte New York Palace Hotel. The presentation is scheduled for September 12, 2022, from 8:30 to 9:00 AM ET, and will be available for on-demand streaming for 30 days post-conference. Evoke is known for developing GIMOTI, a nasal spray for diabetic gastroparesis, the only FDA-approved medication for this condition.

Evoke Pharma has partnered with EVERSANA and UpScriptHealth to launch a new telehealth service for patients suffering from diabetic gastroparesis. This service will facilitate access to care for patients with limited healthcare access, allowing for same-day appointments with licensed providers. A recent survey indicated that over half of gastroparesis patients report severe symptoms, and 60% are unsatisfied with existing treatments. The initiative aims to provide better access to GIMOTI, Evoke's nasal spray formulation for diabetic gastroparesis.

Evoke Pharma, Inc. (NASDAQ: EVOK) reported strong Q2 2022 results, highlighting a 24% increase in new inbound prescriptions and an 11% rise in net revenue, totaling approximately $462,000. The cumulative number of new GIMOTI prescribers grew by 23% compared to Q1 2022. Medicaid approvals in Texas and Florida expand market access to 10 million lives. The company raised approximately $7.1 million to extend its cash runway into Q2 2023. However, the net loss was approximately $2.2 million, or $0.71 per share.

Evoke Pharma (NASDAQ: EVOK) plans to release its second quarter results on August 10, 2022, after market close. A conference call is scheduled for the same day at 4:30 p.m. ET, where management will discuss the results. Domestic callers can dial (800) 343-4849, while international callers should use (203) 518-9848. GIMOTI, Evoke's nasal spray for diabetic gastroparesis, remains the only FDA-approved treatment in the U.S. for this condition, which affects millions globally.