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Evoke Pharma Reports Second Quarter 2025 Financial Results and Provides Business Update
Globenewswireยท 2025-08-14 11:00
Core Insights - Evoke Pharma reported a 47% year-over-year increase in net product sales for Q2 2025, reaching approximately $3.8 million compared to $2.6 million in Q2 2024, indicating strong commercial performance of GIMOTI [1][4][9] - The company experienced a 20% increase in new prescribers since the same quarter last year, reflecting growing demand from both physicians and patients [2][9] - The refill rates for GIMOTI remained steady at around 70%, suggesting consistent therapeutic benefits for patients [9] Financial Performance - For Q2 2025, Evoke Pharma reported a net loss of approximately $1.6 million, or ($0.62) per share, compared to a net loss of $1.3 million, or ($0.93) per share, in Q2 2024 [4][22] - Selling, general, and administrative expenses rose to approximately $5.1 million in Q2 2025 from $3.7 million in Q2 2024, attributed to increased profit-sharing with EVERSANA and higher professional fees [5][22] - Total operating expenses for Q2 2025 were approximately $5.3 million, up from $3.8 million in the same period of 2024 [5][22] Cash Position and Outlook - As of June 30, 2025, Evoke Pharma had cash and cash equivalents of approximately $12.1 million, which is expected to fund operations into Q3 2026 based on current plans [6] - The company confirmed its full-year 2025 net product sales guidance of approximately $16 million, representing up to a 60% increase over 2024, driven by trends in prescription growth and refill rates [7]