Evoke Pharma, Inc. - EVOK STOCK NEWS

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.

Evoke Pharma (NASDAQ: EVOK) collaborates with IFFGD for August's Gastroparesis Awareness Month, aiming to enhance understanding of the condition that affects up to five million Americans. Participating in a virtual wellness event, Evoke and EVERSANA achieved first place with 3.1 million steps taken, supporting gastrointestinal research. The company promotes resources like DGP-n-Me for patient education. Data from IFFGD shows 52% of gastroparesis patients report severe symptoms, with many dissatisfied with current treatments. Evoke also plans to attend the ANMS 2022 meeting to discuss diabetic gastroparesis management.

Evoke Pharma, Inc. (NASDAQ: EVOK) has received a key patent from the Canadian Intellectual Property Office for its nasal spray formulation of metoclopramide, GIMOTI®, aimed at treating diabetic gastroparesis. This patent, expiring in 2029, enhances Evoke's intellectual property portfolio, complementing other U.S. patents that expire in 2029 and 2030. Following prior FDA exclusivity granted in April 2022, Evoke holds exclusive rights to market GIMOTI® for three years against generics, positioning the product as a significant treatment solution for this GI disorder.

Evoke Pharma (NASDAQ: EVOK) announced that Florida's Medicaid Pharmaceutical & Therapeutics Committee has approved the inclusion of GIMOTI, its nasal spray for treating diabetic gastroparesis, in the state's Preferred Drug List, effective immediately. This decision enhances patient access to GIMOTI, particularly for adults unable to use oral metoclopramide due to delayed gastric emptying. With approximately 5 million beneficiaries in Florida's Medicaid, this approval marks a significant milestone for Evoke in expanding GIMOTI's market presence and improving treatment options for patients suffering from this GI disorder.

Evoke Pharma (NASDAQ: EVOK) announced it has regained compliance with Nasdaq's minimum bid price requirement, closing the matter previously raised on December 29, 2021. The company's stock was under the $1.00 threshold but achieved compliance by maintaining a minimum closing bid price of $1.00 for 10 consecutive days post a 1-for-12 reverse stock split. In May, Evoke raised approximately $7.1 million through its at-the-market program, extending its cash runway into the second quarter of 2023. The company aims to leverage this funding to boost GIMOTI sales.

Evoke Pharma (NASDAQ: EVOK) presented a study at Digestive Disease Week 2022 highlighting a 98.8 per 100,000 incidence of tardive dyskinesia (TD) among gastroparesis patients treated with metoclopramide, a significant reduction from earlier reports. This analysis, based on a database of 80 million patients from 2011-2020, supports the safety profile of GIMOTI®, the FDA-approved nasal spray formulation of metoclopramide for diabetic gastroparesis. The study received a “Poster of Distinction” award, emphasizing GIMOTI's potential in managing this condition.