EVOK - Evoke Pharma (EVOK) net loss widened in Q4 shares plunge 29%

Evoke Pharma (EVOK) shares plummeted 29% after-hours after the company released its Q4 earnings.For Q4, net sales were  approx. $23K.Net loss was ~$2.3M, or $0.09 per share, compared to a net loss of ~$1.4M, or $0.06 per share.This increase in net loss was primarily due to $5M expense in June 2020 upon achieving a technology acquisition milestone related to FDA’s approval of GIMOTI, along with costs associated GIMOTI launch.Total operating expenses were ~$2.1M compared to ~$1.4M for the same period of 2019.Cash and cash equivalents were ~$8.1M as of December 31, 2020.In January 2021, EVOK announced positive data from market research study which indicated 79% and 89% of target and non-target gastroenterologists intend to prescribe GIMOTI.Of the patients who have tried GIMOTI, nearly 40% have had at least one refill.Yesterday's close was $3.10.Previously (March 11): Evoke Pharma EPS beats by $0.05

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Evoke Pharma (EVOK) net loss widened in Q4, shares plunge 29%