EVOK - Evoke Pharma: Opportunity For Upside As Gimoti Sales Ramp
- Evoke Pharma finally received FDA approval for Gimoti, a nasal formulation of a generic GI drug, in June 2020 and launched the drug in October 2020.
- Post-approval, the stock price decreased as investors' dreams of the company being acquired faded, and the reality of a small company drug launch became the story.
- Additional pressure on the stock came because their balance sheet was inadequate to survive a year into the commercial launch.
- A fiscally-attractive sales and marketing partnership, and recent funding event, have set the stage for Evoke to appreciate 2-3X as the company reports sales over the next few quarters.
For further details see:
Evoke Pharma: Opportunity For Upside As Gimoti Sales Ramp