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

Core Insights - Evoke Pharma, Inc. has entered into a merger agreement with QOL Medical, which is expected to close in the fourth quarter of 2025, offering shareholders $11.00 per share in cash [8][9][10] - The company reported a significant increase in net product sales for Q3 2025, reaching $4.3 million, a 61% increase year-over-year, contributing to a year-to-date sales total of $11.1 million, up 60% compared to the same period in 2024 [5][9] - The patent life for GIMOTI has been extended through November 2038, enhancing the product's market exclusivity [9] Financial Performance - For Q3 2025, Evoke reported net product sales of $4.3 million, compared to $2.7 million in Q3 2024, with a net loss of approximately $1.2 million, or ($0.45) per share, an improvement from a net loss of $1.3 million, or ($0.94) per share, in the same period of 2024 [5][6][25] - Selling, general, and administrative expenses increased to approximately $5.3 million in Q3 2025 from $3.8 million in Q3 2024, primarily due to higher marketing costs and professional fees [6][25] - As of September 30, 2025, the company had $11.6 million in cash and cash equivalents, which is projected to fund operations into the fourth quarter of 2026 [7] Business Developments - The merger with QOL Medical is seen as a strategic move to enhance growth potential and leverage the value created by the GIMOTI franchise [3][10] - Evoke has expanded pharmacy access through new partnerships with Omnicell and Brentwood Pharmacy, facilitating wider distribution of GIMOTI [9] - The company received a new U.S. patent for GIMOTI in August 2025, which has been listed in the FDA's Orange Book, further solidifying its market position [9]