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EVOK

Evoke Pharma, Inc.

EVOK

Evoke Pharma, Inc. • NASDAQ
$10.88 ▲ 0.37% (+0.04)
Market Cap $18.74 M
52w High $10.90
52w Low $1.94
Dividend Yield 0%
P/E -7.88
Volume 4.74K
Outstanding Shares 1.72M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $4.284M ▲ $5.32M ▲ $-1.156M ▲ -26.989% ▲ $-0.45 ▲ $-1.03M ▲
Q2-2025 $3.752M ▲ $5.143M ▲ $-1.571M ▼ -41.869% ▲ $-0.62 ▼ $-1.446M ▼
Q1-2025 $3.08M ▼ $4.34M ▼ $-1.306M ▼ -42.406% ▼ $-0.51 ▲ $-1.183M ▼
Q4-2024 $3.308M ▲ $4.384M ▲ $-1.193M ▲ -36.053% ▲ $-0.8 ▲ $-1.067M ▲
Q3-2024 $2.654M $3.836M $-1.312M -49.446% $-0.94 $-1.186M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $11.576M ▼ $15.649M ▼ $12.287M ▲ $3.362M ▼
Q2-2025 $12.059M ▼ $16.06M ▼ $11.686M ▲ $4.374M ▼
Q1-2025 $12.624M ▼ $16.376M ▼ $10.535M ▲ $5.841M ▼
Q4-2024 $13.597M ▲ $17.519M ▲ $10.481M ▲ $7.038M ▲
Q3-2024 $11.339M $14.154M $9.766M $4.387M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.156M ▲ $-521.958K ▲ $0 $38.896K ▲ $-483.062K ▲ $-521.96K ▲
Q2-2025 $-1.571M ▼ $-565.018K ▲ $0 $0 ▼ $-565.018K ▲ $-565.018K ▲
Q1-2025 $-1.306M ▼ $-997.509K ▲ $0 $24.999K ▼ $-972.51K ▼ $-997.509K ▲
Q4-2024 $-1.193M ▲ $-1.24M ▼ $0 $3.498M ▲ $2.258M ▲ $-1.24M ▼
Q3-2024 $-1.312M $-818.695K $0 $2.98M $2.161M $-818.7K

Revenue by Products

Product Q1-2025Q2-2025Q3-2025
Pharmaceutical Products
Pharmaceutical Products
 $0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Evoke looks like a very small, single‑product company that has not yet reached meaningful commercial scale. Revenue has been close to zero for several years, while operating costs have consistently exceeded what the business brings in. That has led to ongoing net losses year after year, with no clear sign in the historical figures that the core business has turned the corner into profitability. The pattern is one of a development‑stage or early commercial‑stage biotech: expenses to support the product and corporate overhead, without enough sales yet to cover them.

Balance Sheet

Balance Sheet The balance sheet is very lean. The company runs with only a small base of total assets and a limited cash cushion. Debt sits at a similar order of magnitude to the company’s assets, which means there is not a lot of room for error if performance disappoints. Equity only recently shows as modestly positive after being effectively minimal, reflecting accumulated losses over time. Overall, the financial structure suggests a fragile, thinly capitalized business that has relied on external funding rather than internally generated profits.

Cash Flow

Cash Flow Cash flow from operations has been consistently negative, which is typical for a company still trying to build a market for its first product. There is virtually no spending on physical assets, so the main cash outflows are to fund ongoing operations. Free cash flow has therefore remained negative, pointing to a reliance on financing transactions in the background to keep the company running. The historical cash flows do not yet show a self‑funding, cash‑generative business model.

Competitive Edge

Competitive Edge Evoke’s competitive position is built almost entirely around GIMOTI, its nasal spray treatment for diabetic gastroparesis. The product is differentiated as the only non‑oral outpatient option for this condition in the U.S., which is important because many patients struggle to absorb oral drugs. Strong patent protection extending well into the next decade creates a meaningful barrier to generic competition. However, the company’s moat is narrow: it depends on a single drug, in a specialized market, facing alternatives like oral drugs, hospital‑based treatments, and pipeline therapies from larger, better‑resourced companies. Market awareness, physician adoption, and payer coverage are all critical swing factors.

Innovation and R&D

Innovation and R&D Innovation is the clear bright spot. Evoke has taken a well‑known drug and created a novel nasal delivery format that solves a real clinical problem for certain patients. The company has backed this with a sizable portfolio of patents, including long‑dated protection, which helps defend its niche. On the other hand, Evoke’s R&D story beyond GIMOTI appears thin; it has not developed a broad pipeline and has instead focused on maximizing this one asset and exploring in‑licensing. According to the provided information, the planned acquisition by QOL Medical could shift the innovation strategy, potentially putting GIMOTI into a larger GI‑focused portfolio with more resources but also changing how and where future R&D decisions are made.

Summary

Overall, Evoke is a classic example of a tiny specialty pharma company built around a single, differentiated product. Financially, it has operated at a loss for years, with very limited revenue, a small asset base, tight liquidity, and ongoing negative cash flow. Strategically, its strength lies in a unique delivery technology for an established drug, backed by long‑dated patents and clear clinical logic for a subset of patients with diabetic gastroparesis. The main risks are concentration in one product, modest scale, dependence on successful commercialization, and competition from both existing and emerging therapies. Based on the information provided, the planned acquisition by QOL Medical marks a transition point: future performance will depend less on Evoke as a standalone company and more on how effectively the new owner can scale and integrate GIMOTI within a broader business.

NEWS

November 4, 2025 · 6:00 PM UTC

$HAREHOLDER ALERT: The M&A Class Action Firm Announces An Investigation of Evoke Pharma, Inc. (NASDAQ: EVOK)

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November 4, 2025 · 11:28 AM UTC

Shareholder Alert: The Ademi Firm investigates whether Evoke Pharma Inc. is obtaining a Fair Price for its Public Shareholders

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November 4, 2025 · 10:07 AM UTC

EVOK Stock Alert: Halper Sadeh LLC is Investigating Whether the Sale of Evoke Pharma, Inc. is Fair to Shareholders

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November 3, 2025 · 9:08 AM UTC

MAI Capital Management Announces Expanded Office of Managing Partners Appointments Following Strategic Acquisition of Evoke Advisors

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October 3, 2025 · 9:08 AM UTC

Evoke Advisors Ranked No. 1 on Forbes' ‘America's Top RIA Firms' List for Fourth Consecutive Year

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