Evoke Pharma Inc. (EVOK) shares rose 9.70% in after-hours on Friday, August 13, 2021, and closed the weekly trading at $1.47 per share. In the regular trading session of Friday, EVOK’s stock gained 19.64%. EVOK shares have fallen 75.81% over the last 12 months, and they have moved up 24.07% in the past week. Over the past three months, the stock has gained 17.54%, while over the past six months, it has declined 60.59%.
Let’s have a look at its recent news and developments.
EVOK recent financial results announcement
On August 12, 2021, Evoke Pharma, Inc. (EVOK) reported its financial results for the second quarter that ended June 30, 2021.
Q2 2021 financial highlights
- EVOK net product sales were approximately $237,000 in Q2 2021 compared to approximately $90,000 during the first quarter of 2021. There was no sale in Q2 2020.
- It suffered a net loss of $2.3 million, or $0.07 per share in Q2 2021, compared to a net loss of approximately $7.0 million, or $0.28 per share in Q2 2020.
- Total operating expenses were approximately $2.4 million in Q2 2021 compared to total operating expenses of approximately $7.0 million in Q2 2020.
- The company’s cash and cash equivalents were approximately $16.7 million on June 30, 2021.
EVOK received support from IFFGD
On August 02, 2021, Evoke Pharma (EVOK) announced support of the International Foundation for Gastrointestinal Disorders (IFFGD) August Gastroparesis Awareness Month and sponsorship for the upcoming Digestive Health Virtual Walk-in in honour of the organization’s 30th anniversary.
On June 29, 2021, Company joined IFFGD’s Industry Council. As part of the Industry Council, Evoke will participate in biannual council meetings to gain industry insights and provide feedback on plans for IFFGD.
EVOKE Launched Gimoti support Program
On July 14, 2021, Evoke Pharma, Inc. (EVOK) announced the start of additional marketing initiatives focusing on the launch of a patient and physician experience program for GIMOTI, the Company’s nasal spray product for the relief of symptoms in acute and recurrent diabetic gastroparesis (DGP).
The program will provide samples of GIMOTI primarily to targeted gastroenterologists and advance practice practitioners.
Positive findings of GIMOTI market study
On June 15, 2021, Evoke Pharma, Inc. (EVOK) reported positive findings from a second market research study conducted for GIMOTI® (metoclopramide) nasal spray. The study aimed to gather further market insights on the perception of GIMOTI in the GI community and follows the initial market research study conducted in December 2020.
The study found that 81% of all respondents intend to prescribe GIMOTI in the future.
Conclusion
The recent financial results announcement on August 12, the evening was the reason behind its top-notch performance on Friday. EVOK stock can commence the new week with the same positive momentum.
