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FDA Approves Evoke’s GIMOTI™

NASDAQ:EVOK   EVOKE PHARMA INC
We are extremely pleased to have received FDA approval to commercially market GIMOTI in the United States. This approval represents the first novel pharmaceutical treatment for gastroparesis in several decades. We are excited to be able to offer health care providers and their patients a unique non-oral treatment option to relieve symptoms and help improve their quality of life.

Together with our partner EVERSANA, we are now fully focused on executing our commercialization strategy for GIMOTI by leveraging EVERSANA’s integrated suite of capabilities and highly experienced sales and marketing team,” continued David Gonyer, R. Ph . “We anticipate initiating commercial sales in the fourth quarter of 2020.”

The FDA approval of GIMOTI allows Evoke to access its existing $5 million line of credit from EVERSANA to support manufacturing and other aspects of GIMOTI’s commercialization. As of May 31, 2020, the Company’s cash and cash equivalents were approximately $4.7 million. Evoke believes, based on its current operating plan, that its cash and cash equivalents, together with the EVERSANA line of credit, will support the company’s operations into 2021, without consideration of potential GIMOTI revenue.

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