[SCHEDULE 13G] Evoke Pharma, Inc. SEC Filing

Rhea-AI Filing Summary

Morgan Stanley and its affiliate Morgan Stanley Smith Barney LLC report beneficial ownership of 163,718 shares of Evoke Pharma Inc. common stock, representing 10.5% of the class. The filing shows no sole voting or dispositive power and shared dispositive power of 163,718 shares, indicating holdings reported on behalf of Morgan Stanley reporting units. The filing is submitted on a Schedule 13G basis and includes exhibits for a joint filing agreement and subsidiary identification.

Positive

• Material stake disclosed: Morgan Stanley reports a 10.5% beneficial ownership position in EVOK, improving transparency for investors.
• Clear non-control filing: Filed on Schedule 13G, indicating the position is held in the ordinary course and not for control purposes.

Negative

• None.

Insights

Securities Analyst

TL;DR: Morgan Stanley reports a material passive stake of 10.5% in Evoke Pharma, disclosed via Schedule 13G, indicating non-control intent.

The Schedule 13G shows Morgan Stanley and Morgan Stanley Smith Barney LLC beneficially own 163,718 shares, representing 10.5% of Evoke Pharma's common stock, with shared dispositive power and no sole voting or dispositive power recorded. The filing is on a passive Schedule 13G basis, which signals the position is held in the ordinary course of business and not for control. Exhibits include a joint filing agreement and subsidiary identification for reporting units.

Corporate Governance Expert

TL;DR: A >5% passive disclosure is material for transparency but does not indicate a change in control or active engagement.

The document complies with Rule 13d-1 reporting for substantial passive holdings. Key facts: 163,718 shares (10.5%) are reported, with no sole voting authority reported. The certification clarifies holdings are ordinary-course and not intended to influence control. The filing includes the required exhibits identifying the reporting units and the joint filing arrangement between Morgan Stanley entities.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

EVOKE PHARMA INC

(Name of Issuer)

Common Stock

(Title of Class of Securities)

30049G302

(CUSIP Number)

08/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 30049G302

1

Names of Reporting Persons

Morgan Stanley

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 163,718.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

163,718.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.5 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

CUSIP No. 30049G302

1

Names of Reporting Persons

Morgan Stanley Smith Barney LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 163,718.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

163,718.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.5 %

12

Type of Reporting Person (See Instructions)

BD, IA, CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: EVOKE PHARMA INC
(b)	Address of issuer's principal executive offices: 420 STEVENS AVENUE, SUITE 230, SOLANA BEACH, CA, 92075
Item 2.
(a)	Name of person filing: 1: Morgan Stanley 2: Morgan Stanley Smith Barney LLC
(b)	Address or principal business office or, if none, residence: 1: 1585 Broadway, New York, NY 10036 ;2: 1585 Broadway, New York, NY 10036
(c)	Citizenship: 1: Delaware 2: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 30049G302
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: 10.5 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99.2
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Morgan Stanley

Signature:	Christopher O'Hara
Name/Title:	Authorized Signatory, Morgan Stanley
Date:	09/08/2025

Morgan Stanley Smith Barney LLC

Signature:	David Galasso
Name/Title:	Authorized Signatory, Morgan Stanley Smith Barney LLC
Date:	09/08/2025

Exhibit Information

EXHIBIT NO. EXHIBITS ------------------ ------------------------------------ 99.1 Joint Filing Agreement 99.2 Item 7 Information * Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001).

FAQ

How many Evoke Pharma (EVOK) shares does Morgan Stanley report owning?

The filing reports 163,718 shares beneficially owned by Morgan Stanley reporting units.

What percentage of EVOK does the 13G filing report?

The filing states the shares represent 10.5% of Evoke Pharma's common stock.

Does Morgan Stanley claim voting or dispositive control over the shares?

No sole voting or sole dispositive power is reported; the filing shows shared dispositive power of 163,718 shares and no sole voting power.

Is this Schedule 13G filed as a passive disclosure or an attempt to influence control?

The filing is a Schedule 13G and includes a certification stating the securities were acquired and are held in the ordinary course of business and not to influence control.

What exhibits accompany the Schedule 13G?

Exhibits listed include a Joint Filing Agreement (Exhibit 99.1) and Item 7 information identifying subsidiaries (Exhibit 99.2).