Evoke Pharma Inc Stock Price, News & Analysis

Evoke Pharma (NASDAQ: EVOK) announced a virtual fireside chat on March 16, 2022, to discuss gastroparesis and GIMOTI, its nasal spray treatment for the condition, featuring Dr. Viplove Senadhi. The event aims to enhance understanding and awareness of this gastrointestinal disorder affecting millions. GIMOTI is the only FDA-approved drug for diabetic gastroparesis, offering a unique formulation compared to traditional oral and injectable options. Investors can register for the event through Evoke's investor relations site.

Evoke Pharma reported a 46% increase in fourth-quarter net product sales, reaching $361,000 compared to $247,000 in Q3 2021. The company also saw a 23% growth in the number of GIMOTI prescribers, totaling 425 by year-end 2021, with further growth to 499 by February 2022. For the year 2021, net product sales totaled $1.6 million versus $23,000 in 2020, reflecting a strong recovery post-COVID-19 restrictions. Despite a net loss of $8.5 million in 2021, a significant reduction from the previous year's loss of $13.2 million indicates improving financial health.

Evoke Pharma (NASDAQ: EVOK) is set to release its fourth quarter and full year 2021 financial results on March 8, 2022, after market close. The company, focused on gastrointestinal (GI) treatments, will host a conference call at 4:30 p.m. ET on the same day to discuss these results. Evoke Pharma is known for its GIMOTI product, a nasal spray formulation of metoclopramide for diabetic gastroparesis, a prevalent GI disorder. GIMOTI remains the only FDA-approved treatment specifically for this condition in the U.S.

Evoke Pharma, Inc. (NASDAQ: EVOK) announced that a retrospective analysis regarding metoclopramide and the risk of tardive dyskinesia (TD) will be presented at the Digestive Disease Week Meeting in May 2022. This study, utilizing data from an 80 million patient database, aims to clarify TD risks associated with metoclopramide in diabetic gastroparesis patients. GIMOTI, Evoke's key product, is a nasal spray formulation of metoclopramide approved for this indication. The presentation will update healthcare professionals on findings from recent real-world data, potentially impacting treatment approaches.

Evoke Pharma (NASDAQ: EVOK) announced positive outcomes from a recent study on GIMOTI (metoclopramide) nasal spray, highlighting increased awareness and intent to prescribe among healthcare providers. Conducted by EVERSANA, the study revealed that 88% of respondents intend to prescribe GIMOTI, with notable increases in its use as a first and third-line treatment for diabetic gastroparesis. Additionally, GIMOTI has been approved for coverage under New York Medicaid, enhancing patient access. Patient testimonial videos showcasing the benefits of GIMOTI are now available on GimotiRx.com.

Evoke Pharma (NASDAQ: EVOK) and EVERSANA have confirmed the extension of their collaboration agreement for the commercialization of Gimoti^® (metoclopramide) nasal spray in the U.S. until December 31, 2026. This partnership, originally established in January 2020, enables Evoke to retain ownership of Gimoti while allowing EVERSANA to manage market access, marketing, and distribution. The updated agreement enhances Evoke's profit retention from Gimoti sales and accelerates cost reimbursements. Gimoti addresses significant needs in diabetic gastroparesis treatment.

Evoke Pharma, a specialty pharmaceutical company focused on gastrointestinal treatments, will participate in the H.C. Wainwright BIOCONNECT Conference from January 10-13, 2022. Management's presentation will be accessible online starting January 10 at 7:00 a.m. ET. Investors interested in one-on-one meetings may contact a representative or Daniel Kontoh-Boateng. Evoke is known for GIMOTI, a nasal spray for diabetic gastroparesis relief, currently the only FDA-approved drug for this condition in the U.S., targeting a significant patient population worldwide.

Evoke Pharma, Inc. (NASDAQ: EVOK) reported a net loss of approximately $2.0 million for Q3 2021, slightly improved from $2.1 million in Q3 2020. Net product sales surged to around $930,000, driven by a notable increase in GIMOTI prescriptions. Research and development expenses decreased to $0.1 million, while selling, general, and administrative (SG&A) expenses rose to $2.6 million due to commercialization efforts. As of September 30, 2021, cash reserves stood at about $11.1 million, projected to support operations until Q3 2022. GIMOTI continues to gain traction among healthcare providers.

Evoke Pharma, focused on gastrointestinal treatments, plans to release its third-quarter 2021 financial results on November 10, 2021, post-market. A conference call will follow at 4:30 p.m. ET to discuss these results. The company has commercialized GIMOTI, a nasal spray for diabetic gastroparesis, the only FDA-approved treatment for this condition. Evoke emphasizes the market potential for GIMOTI amid ongoing challenges, including reliance on third-party manufacturing and market demand dynamics. The company warns of various risks that could impact operations and revenue generation.