Evoke Pharma Reports First Quarter 2025 Financial Results and Provides Business Update

Core Insights - Evoke Pharma, Inc. reported a 77% year-over-year increase in net product sales for Q1 2025, reaching approximately $3.1 million, driven by growing prescriber adoption and repeat patient use of GIMOTI [1][5][9] - The company achieved a 73% increase in fill rate and a 44% increase in its total prescriber base compared to Q1 2024, indicating strong commercial execution and provider engagement [2][9] - Evoke maintains its 2025 net product sales guidance of approximately $16 million, reflecting a 60% increase over 2024 [8] Financial Performance - For Q1 2025, net product sales were approximately $3.1 million compared to $1.7 million in Q1 2024, while the net loss decreased to approximately $1.3 million ($0.51 per share) from $1.6 million ($2.09 per share) in the prior year [5][22] - Selling, general, and administrative expenses rose to approximately $4.3 million from $3.1 million in Q1 2024, attributed to higher professional fees and reimbursement activities [6] - As of March 31, 2025, cash and cash equivalents were approximately $12.6 million, expected to fund operations into Q2 2026 [7] Business Developments - The company appointed Greg Pyszczymuka to the Board of Directors, enhancing its commercial strategy and revenue growth capabilities [3] - GIMOTI demonstrated solid momentum with strong repeat usage and increased prescription depth, supported by expanded pharmacy partnerships [9][10] - The company emphasizes its strategic focus on GLP-1 patient populations, where the demand for effective non-oral treatment options is growing [9]