Evoke Pharma, Inc. (EVOK): History, Ownership, Mission, How It Works & Makes Money

Ever heard of Evoke Pharma, Inc. (EVOK), and wondered what they're all about? This specialty pharmaceutical company is making waves in the treatment of gastrointestinal disorders, particularly diabetic gastroparesis. Keep reading to discover how Evoke Pharma is addressing unmet needs with its innovative solutions and what makes them a key player in the biotech industry, especially after reporting a 97.8% year-over-year revenue growth reaching $10.2 million in 2024!

Evoke Pharma, Inc. (EVOK) History

Evoke Pharma, Inc. Founding Timeline

Year established

Evoke Pharma, Inc. was established in 2007.

Original location

The company is based in Solana Beach, California.

Founding team members

While specific names of the original founding team members are not readily available in the provided search results, the company was built upon the vision of developing and commercializing innovative treatments for gastrointestinal disorders.

Initial capital/funding

Details regarding the initial capital or funding for Evoke Pharma's establishment are not available in the provided search results.

Evoke Pharma, Inc. Evolution Milestones

Evoke Pharma, Inc. Transformative Moments

• FDA Approval of Gimoti: Securing FDA approval for Gimoti in 2019 was a pivotal moment, validating years of research and development efforts. This approval allowed Evoke Pharma to transition from a development-stage company to a commercial entity.
• Commercial Launch: The commercial launch of Gimoti marked a critical shift in the company's focus. Successfully navigating the complexities of market access, reimbursement, and physician adoption was essential for establishing Gimoti as a viable treatment option.
• Financial Restructuring and Strategic Realignment: Implementing strategic realignments to optimize operational efficiency and extend its financial runway has enabled the company to navigate market challenges and sustain its commercial operations.

To gain more insights into the company's financial standing, you might find this resource helpful: Breaking Down Evoke Pharma, Inc. (EVOK) Financial Health: Key Insights for Investors

Evoke Pharma, Inc. (EVOK) Ownership Structure

Evoke Pharma, Inc. features a mix of institutional, retail, and insider ownership, influencing its strategic decisions and corporate governance.

Evoke Pharma, Inc.'s Current Status

Evoke Pharma, Inc. is a public company, trading on the NASDAQ under the ticker symbol EVOK. This allows the company to raise capital through the issuance of stock and makes it subject to regulations and reporting requirements.

Evoke Pharma, Inc.'s Ownership Breakdown

The ownership of Evoke Pharma is distributed among various types of shareholders. Here is a breakdown:

Evoke Pharma, Inc.'s Leadership

The leadership team is responsible for the strategic direction and operational management of Evoke Pharma. As of April 2025, key members of the leadership team include:

• David Gonyer: Chief Executive Officer
• Matt D'Onofrio: Director

For more in-depth information about Evoke Pharma investors, check this out: Exploring Evoke Pharma, Inc. (EVOK) Investor Profile: Who’s Buying and Why?

Evoke Pharma, Inc. (EVOK) Mission and Values

Evoke Pharma is dedicated to developing and marketing innovative treatments that address unmet needs in the gastrointestinal (GI) space, improving the lives of patients suffering from GI disorders. The company values innovation, patient-centricity, and integrity in all its operations.

Evoke Pharma's Core Purpose

Official mission statement

While an official, stand-alone mission statement is not readily available in recent search results, Evoke Pharma's core purpose can be inferred from its activities and focus:

• To develop and commercialize pharmaceutical products that offer therapeutic benefits to patients with gastrointestinal disorders.
• To focus on areas of significant unmet medical need, particularly in the treatment of gastroparesis.
• To improve the quality of life for patients by providing effective and accessible treatment options.

Vision statement

Similarly, a specific vision statement is not explicitly stated in the provided search results. However, a vision for Evoke Pharma can be interpreted as:

• To be a leading pharmaceutical company recognized for its commitment to advancing GI health.
• To expand the therapeutic applications of its existing product while exploring new innovative solutions for GI disorders.
• To establish strong partnerships with healthcare providers and patient advocacy groups to enhance patient care and awareness.

Company slogan/tagline

No specific slogan or tagline for Evoke Pharma was found in the search results. Without an official tagline, the essence of Evoke Pharma could be summarized as:

• Improving GI Health, Enhancing Lives.
• Dedicated to GI Innovation.
• Advancing Gastroparesis Treatment.

For more in-depth information, visit: Mission Statement, Vision, & Core Values of Evoke Pharma, Inc. (EVOK).

Evoke Pharma, Inc. (EVOK) How It Works

Evoke Pharma, Inc. focuses on the development and commercialization of drugs to treat gastrointestinal (GI) disorders and diseases, primarily in women.

Evoke Pharma, Inc.'s Product/Service Portfolio

Evoke Pharma, Inc.'s Operational Framework

Evoke Pharma operates with a focus on:

• Drug Development and Approval: Developing pharmaceutical products, primarily Gimoti, and navigating the FDA approval process.
• Commercialization: Marketing, sales, and distribution of their approved products like Gimoti.
• Strategic Partnerships: Collaborating with other companies for manufacturing, distribution, and potentially further development of their products.
• Financial Management: Securing funding through various means, including equity offerings and debt financing, to support operations and growth initiatives. For instance, on March 7, 2024, Evoke Pharma announced a $2.0 million private placement, selling 4,444,445 shares of common stock at $0.45 per share.

Evoke Pharma, Inc.'s Strategic Advantages

Evoke Pharma's strategic advantages include:

• Novel Drug Delivery System: Gimoti's nasal spray formulation offers a unique advantage over traditional oral metoclopramide, especially for patients with gastroparesis who may have difficulty with oral medications.
• Focus on a Specific Market: By targeting women with diabetic gastroparesis, Evoke Pharma addresses a specific and underserved patient population.
• Intellectual Property: Patents and exclusivity related to Gimoti provide a competitive edge.
• Experienced Management Team: A team with expertise in drug development, regulatory affairs, and commercialization.

To gain more in-depth knowledge about the company's financials, check this out: Breaking Down Evoke Pharma, Inc. (EVOK) Financial Health: Key Insights for Investors

Evoke Pharma, Inc. (EVOK) How It Makes Money

Evoke Pharma, Inc. primarily generates revenue through the sale of its only commercial product, Gimoti, a nasal spray used for the relief of symptoms associated with acute and recurrent diabetic gastroparesis in adults.

Evoke Pharma, Inc.'s Revenue Breakdown

Evoke Pharma, Inc.'s Business Economics

Evoke Pharma operates in the pharmaceutical sector, where the business economics are significantly influenced by factors such as product pricing, cost of goods sold, and operational expenses, including research and development, sales, and marketing. Here are key aspects of their business economics:

• Pricing Strategy: The company's revenue is directly tied to the pricing of Gimoti. The pricing strategy must balance market competitiveness, patient access, and profitability.
• Cost of Goods Sold (COGS): This includes the cost of manufacturing, packaging, and distributing Gimoti. Managing COGS is crucial for maintaining healthy gross margins.
• Operating Expenses: A significant portion of Evoke Pharma's expenses includes sales and marketing efforts to promote Gimoti to healthcare providers and patients. Additionally, ongoing research and development activities, as well as general and administrative costs, impact the overall profitability.
• Market Access and Reimbursement: Successful market access depends on securing favorable reimbursement status from insurance companies and pharmacy benefit managers. This directly affects the net price and sales volume of Gimoti.

Evoke Pharma, Inc.'s Financial Performance

Evoke Pharma's financial performance can be assessed through various key metrics that reflect the company's ability to generate revenue and manage expenses effectively. Analyzing these metrics provides insights into the company’s operational efficiency and financial stability.

• Net Revenue: As of the fiscal year 2024, the company's net revenue is entirely dependent on Gimoti sales.
• Gross Margin: The gross margin indicates the profitability of Gimoti sales after deducting the cost of goods sold.
• Operating Expenses: Monitoring operating expenses, including sales and marketing, R&D, and administrative costs, is crucial. Efficient management of these expenses can lead to improved profitability.
• Net Loss: Evoke Pharma has historically experienced net losses. Reducing these losses and achieving profitability are key goals.
• Cash Position: Maintaining a strong cash position is vital for funding operations, supporting the commercialization of Gimoti, and investing in future growth opportunities.

For an in-depth analysis of Evoke Pharma, Inc.'s financial health, you can explore: Breaking Down Evoke Pharma, Inc. (EVOK) Financial Health: Key Insights for Investors

Evoke Pharma, Inc. (EVOK) Market Position & Future Outlook

Evoke Pharma is strategically positioned to capitalize on the growing market for gastrointestinal therapies, particularly with its focus on gastroparesis. The company's future outlook hinges on the successful commercialization and market penetration of its lead product, GIMOTI.

Competitive Landscape

The competitive landscape for gastrointestinal therapies is diverse, with several key players holding significant market share. Here's a snapshot of the competitive dynamics:

Opportunities & Challenges

Evoke Pharma faces both opportunities and risks as it navigates the market for gastroparesis treatments:

Industry Position

Evoke Pharma occupies a niche position within the gastrointestinal therapeutics market, primarily focusing on gastroparesis. Its industry standing can be further elaborated as:

• Evoke Pharma is a pharmaceutical company focused on the development and commercialization of innovative treatments for gastrointestinal disorders and diseases.
• The company's lead product, GIMOTI, is a nasal spray formulation of metoclopramide, approved for the relief of symptoms associated with acute and recurrent diabetic gastroparesis in adults.
• GIMOTI offers a non-oral delivery option, which can be particularly beneficial for patients who have difficulty swallowing or experience nausea and vomiting.

To gain more insights into the company's financial well-being, consider exploring this resource: Breaking Down Evoke Pharma, Inc. (EVOK) Financial Health: Key Insights for Investors