Evoke Pharma: Drops as Q1 loss widens on nasal spray costs

Evoke Pharma

13/05/2021 11:26

** Drug developer's  EVOK.O  shares drop 19% to $1.23
premarket
    ** Co on Wednesday after market posted wider Q1 loss of
about $2.6 mln vs nearly $1.8 mln a year earlier due to costs
associated with the commercial launch of its nasal spray, Gimoti
 urn:newsml:reuters.com:*:nGNX17TLpW
    ** Gimoti was approved by U.S. FDA in June last year for
relief of symptoms of diabetic gastroparesis; it was launched in
Q4 2020
    ** EVOK expects selling, general and administrative expenses
to rise in future due to continual commercialization of Gimoti
and reimbursements to its commercial partner, Eversana 
    ** Stock down ~41% this year, as of last close

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))