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Evoke Pharma, Inc. - EVOK STOCK NEWS

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. (NASDAQ: EVOK) is a specialty pharmaceutical company headquartered at 505 Lomas Santa Fe Dr, Solana Beach, California, USA. The company is dedicated to developing and commercializing treatments for gastrointestinal (GI) disorders and diseases. Evoke Pharma's flagship product is Gimoti, an innovative nasal spray formulation of metoclopramide designed to treat symptoms of diabetic gastroparesis (DGP) in women. Unlike traditional oral forms, Gimoti offers a unique delivery method through the nasal mucosa, addressing erratic absorption issues common in DGP patients.

Recently, Evoke Pharma has made significant strides. The company was selected for a Distinguished Oral Plenary Presentation at a prominent medical meeting, showcasing new data that highlight Gimoti's potential to reduce healthcare costs and resource utilization. Research indicates that nasal metoclopramide reduces emergency room visits and hospitalizations, illustrating substantial cost savings compared to oral formulations.

Evoke Pharma has also reported robust financial growth, with net product sales reaching $1.6 million in Q3 2023, an 88% increase year-over-year. The company attributes this success to increased prescription fills, new enrollments, and a growing number of prescribers. To further enhance accessibility, Evoke transitioned its prescription intake system to ASPN Pharmacies, aiming to broaden its reach through extensive pharmacy networks.

With a strong intellectual property portfolio, including four FDA Orange Book-listed patents for Gimoti, Evoke Pharma continues to solidify its market position. The company remains committed to improving patient outcomes and expanding the availability of effective treatments for diabetic gastroparesis.

News

Evoke Pharma Announces Closing of $7.5 Million Public Offering

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Evoke Pharma, Inc. (EVOK) closes a $30 million public offering led by Nantahala Capital Management, with potential for an additional $22.5 million if all warrants are exercised. The company plans to use the funds for working capital, general corporate purposes, and potentially for in-licensing, acquiring, or investing in complementary businesses.
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Evoke Pharma Announces Pricing of Underwritten Public Offering of up to $30 Million

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Evoke Pharma, Inc. (EVOK) announced an underwritten public offering led by Nantahala Capital Management, raising up to $30 million for working capital and corporate purposes. The offering includes 11,029,411 shares of common stock and warrants, with a combined price per share of $0.68.
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Evoke Pharma Announces FDA Orange Book Listing of New GIMOTI Patent

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Evoke Pharma, Inc. (EVOK) announced that its GIMOTI nasal spray has received a new U.S. patent, No. 11,813,231, listed in the FDA's Orange Book, with coverage until 2029. This adds to the previous three patents, providing enhanced patent protection for GIMOTI. The company aims to redefine gastroparesis treatment with GIMOTI, targeting diabetic gastroparesis and reducing hospitalizations. The patent listing in the Orange Book allows for easier monitoring of potential generic drugs that could infringe on GIMOTI's patents.
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United States Patent and Trademark Office (USPTO) Grants Another Formulation Patent Covering GIMOTI

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Evoke Pharma, Inc. (NASDAQ: EVOK) announced that the United States Patent and Trademark Office issued U.S. Patent No. 11,813,231 titled “Nasal Formulations of Metoclopramide” for their commercially available and FDA-approved nasal formulation of metoclopramide, GIMOTI. This patent provides additional intellectual property protections and claims to metoclopramide being delivered intranasally. The company sees significant commercial value, especially with the rising popularity of GLP-1 agonist medications for diabetes potentially unmasking gastroparesis in larger patient groups. GIMOTI is the only outpatient, non-oral drug labeled for the treatment of acute and recurrent diabetic gastroparesis, addressing the unpredictability of tablet absorption caused by gastroparesis symptoms. Evoke Pharma aims to continue providing patients with life-changing experiences and enhancing the commercial opportunity for GIMOTI.
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Evoke Pharma Reports Third Quarter 2023 Financial Results

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Evoke Pharma, Inc. (NASDAQ: EVOK) reports a 38% revenue increase compared to Q2 2023 and an 88% increase year-over-year. The company experienced a seventh straight prescription fill increase since Q1 2022, with a 21% increase compared to Q2 2023 and a 95% increase year-over-year. The financial results for the third quarter ended September 30, 2023, show record net product sales of $1.6 million. The company also presented data at the ACG 2023 Annual Meeting demonstrating the superiority of its nasal spray, GIMOTI, in reducing healthcare costs for treating diabetic gastroparesis patients.
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Evoke Pharma & EVERSANA Unveil Cost Savings Real-World Data Demonstrating Meaningfully Reduced Healthcare Costs for Patients Using GIMOTI Over Oral Metoclopramide Presented at the American College of Gastroenterology 2023

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Evoke Pharma and EVERSANA announced real-world data on the positive impact of GIMOTI nasal spray in reducing healthcare costs for patients with diabetic gastroparesis. Patients and insurers saved over $15,000 per patient in a six-month period by using GIMOTI instead of oral metoclopramide. The study showed a significant reduction in emergency department visits, hospitalizations, and office visits for patients using GIMOTI compared to oral metoclopramide.
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Evoke Pharma’s Abstract Entitled “Superiority of Nasal Spray Compared to Orally Administered Metoclopramide in Reducing Healthcare Costs in Treating Diabetic Gastroparesis Patients” to Be Presented at The American College of Gastroenterology (ACG) 2023 Annual Meeting

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Evoke Pharma to present real-world healthcare utilization data on GIMOTI nasal spray at the American College of Gastroenterology annual meeting
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Evoke Pharma Receives Notice of Allowance from USPTO for GIMOTI®

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Evoke Pharma granted patent for GIMOTI nasal spray, expected to expire in 2029. GIMOTI demonstrates reduction in healthcare resource utilization. GIMOTI can become first-line treatment for diabetic gastroparesis. Commercially available since 2020, prescribed by over a thousand HCPs.
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Evoke Pharma Reports Second Quarter 2023 Financial Results

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Evoke Pharma and EVERSANA Announce Abstract Acceptance at 2023 American Neurogastroenterology and Motility Society (ANMS) Meeting

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FAQ

What is the current stock price of Evoke Pharma (EVOK)?

The current stock price of Evoke Pharma (EVOK) is $4.2 as of January 10, 2025.

What is the market cap of Evoke Pharma (EVOK)?

The market cap of Evoke Pharma (EVOK) is approximately 6.2M.

What is Evoke Pharma's main product?

Evoke Pharma's main product is Gimoti, a nasal spray formulation of metoclopramide for treating acute and recurrent diabetic gastroparesis in women.

What recent achievements has Evoke Pharma made?

Evoke Pharma was selected for a Distinguished Oral Plenary Presentation, and their research shows that Gimoti reduces healthcare costs and resource utilization for patients with diabetic gastroparesis.

Where is Evoke Pharma located?

Evoke Pharma is located at 505 Lomas Santa Fe Dr, Solana Beach, California, USA.

How has Evoke Pharma's financial performance been recently?

Evoke Pharma reported net product sales of $1.6 million in Q3 2023, an 88% increase year-over-year, driven by higher prescription fills and new enrollments.

What delivery system does Gimoti use?

Gimoti uses a nasal spray delivery system, which provides better absorption for patients with diabetic gastroparesis compared to traditional oral medications.

How does Gimoti benefit diabetic gastroparesis patients?

Gimoti reduces the number of emergency room visits and hospitalizations, offering significant cost savings and improved patient outcomes.

What are the benefits of Evoke Pharma's new prescription intake system?

The new system, managed by ASPN Pharmacies, has broader pharmacy network agreements, making it easier to fill prescriptions and increasing revenue potential.

How many FDA Orange Book-listed patents does Evoke Pharma hold?

Evoke Pharma holds four FDA Orange Book-listed patents for its nasal spray product, Gimoti, providing extended intellectual property protection.

What is the significance of Gimoti's nasal delivery method?

Gimoti's nasal delivery method bypasses the erratic absorption issues seen with oral medications, offering more effective treatment for diabetic gastroparesis.

What is diabetic gastroparesis?

Diabetic gastroparesis is a GI disorder that delays stomach emptying, causing symptoms like nausea, vomiting, bloating, and abdominal pain, and complicates the absorption of oral medications.
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Evoke Pharma, Inc.

Nasdaq:EVOK

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EVOK Stock Data

6.24M
1.42M
4.59%
17.13%
2.99%
Drug Manufacturers - Specialty & Generic
Pharmaceutical Preparations
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United States of America
SOLANA BEACH