Tue, May 13, 8:26 PM (36 days ago)
**Evoke Pharma, Inc. (EVOK) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** Q1 2025 net product sales increased by 77% to $3.1 million compared to Q1 2024, driven by expanded pharmacy network and higher prescription refill rates. - **Profit Margins:** Evoke Pharma reported a net loss of $1.3 million for Q1 2025, an improvement from the $1.6 million loss in Q1 2024. - **Cash Flow:** The company had $12.6 million in cash and cash equivalents as of March 31, 2025, down from $13.6 million at the end of 2024. Operating cash flow was negative $997,509 for Q1 2025. - **Earnings Changes:** Basic net loss per share improved to $0.51 in Q1 2025 from $2.09 in Q1 2024. **Operational Trends and Uncertainties:** - **Gimoti Sales:** Gimoti prescriptions and new prescribers increased, with a 25% rise in inbound prescriptions and a 9.6% increase in new prescribers. - **Commercialization:** Evoke Pharma continues to expand its pharmacy network and improve insurance coverage for Gimoti. - **Regulatory and Financial Risks:** The company faces uncertainties related to the Eversana Agreement, potential termination under the Net Profit Quarterly Termination Right, and the need for additional financing. - **Future Operations:** Evoke Pharma plans to conduct a post-marketing commitment single-dose PK clinical trial and may pursue additional clinical trials to expand Gimoti's indications. **Future Outlook:** - **Funding Needs:** The company anticipates needing additional funds to continue operations and may face substantial doubt about its ability to continue as a going concern if Eversana terminates the agreement. - **Strategic Alternatives:** Evoke Pharma may explore collaborations, licensing, or other strategic alternatives to secure additional financing and support Gimoti's commercialization.