Evoke Pharma, Inc. (EVOK): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Evoke Pharma, Inc. (EVOK) emerge como un innovador farmacéutico pionero, centrado estratégicamente en transformar los paisajes de tratamiento neurológico a través de su innovadora tecnología de pulverización nasal. Al dirigirse a desafíos médicos complejos como la gastroparesis con su producto insignia Gimoti, la compañía representa una combinación sofisticada de innovación científica y modelado de negocios estratégicos que promete remodelar las estrategias de atención y intervención médica del paciente. Su lienzo de modelo de negocio meticulosamente elaborado revela un enfoque integral para abordar las necesidades médicas no satisfechas, aprovechando la investigación de vanguardia, las asociaciones estratégicas y una propuesta de valor centrada en el láser que podría revolucionar cómo se tratan los trastornos neurológicos.

EVOKE PHARMA, Inc. (EVOK) - Modelo de negocio: asociaciones clave

Redes de distribución farmacéutica

A partir de 2024, las asociaciones de distribución farmacéutica de Pharma incluyen:

Pareja	Alcance de distribución	Año establecido
AmerisourceBergen	Distribución farmacéutica nacional	2019
Salud cardinal	Redes de farmacia especializada	2020

Organizaciones de fabricación de contratos

Evoca las asociaciones de fabricación actuales de Pharma:

• Patheon Pharmaceuticals - Partner de fabricación primaria para Gimoti
• Soluciones Catalent Pharma - Soporte de fabricación secundaria

Instituciones de investigación y socios de ensayos clínicos

Institución	Enfoque de investigación	Valor de contrato
Clínica de mayonesa	Ensayos clínicos de gastroparesis	$ 1.2 millones
Universidad de Stanford	Investigación de metoclopramida	$875,000

Redes de proveedores de atención médica

Métricas clave de la asociación de salud:

• Asociaciones totales de la red hospitalaria: 87
• Clínicas de gastroenterología comprometidas: 214
• Cobertura de la red médica: 42 estados

Consultores de cumplimiento regulatorio

Consultoría	Servicios	Contrato anual
Parexel International	Cumplimiento regulatorio de la FDA	$650,000
IQVIA	Apoyo regulatorio de ensayos clínicos	$425,000

EVOKE PHARMA, Inc. (EVOK) - Modelo de negocio: actividades clave

Desarrollo de productos farmacéuticos centrados en la neurología

Evoke Pharma se enfoca en el desarrollo de productos farmacéuticos específicamente dirigidos a afecciones neurológicas y gastrointestinales. A partir de 2024, el enfoque principal de la compañía permanece en Gimoti (metoclopramida nasal).

Producto	Área terapéutica	Estado de desarrollo
Gimoti	Gastroparesis	Aprobado por la FDA

Realización de ensayos clínicos para Gimoti

Evoke Pharma ha invertido recursos significativos en ensayos clínicos para Gimoti.

• Ensayos clínicos de fase 3 completados en 2019
• Aprobación de la FDA obtenida en diciembre de 2020
• Estudios continuos de vigilancia posterior a la comercialización

Cumplimiento regulatorio y procesos de aprobación de medicamentos

La compañía mantiene rigurosos protocolos de cumplimiento regulatorio.

Actividad regulatoria	Métricas de cumplimiento
Interacciones de la FDA	4-6 comunicaciones formales anualmente
Presentaciones regulatorias	2-3 presentaciones formales por año

Investigación médica y desarrollo de productos

Evoke Pharma asigna recursos significativos a la investigación y el desarrollo.

• Gastos de I + D en 2023: $ 3.2 millones
• Equipo de investigación: 8-10 científicos especializados
• Centrarse en las tecnologías de suministro de medicamentos nasales

Marketing y comercialización de productos farmacéuticos

La compañía emplea estrategias de marketing específicas para Gimoti.

Canal de marketing	Inversión
Fuerza de ventas directa	12-15 representantes farmacéuticos especializados
Marketing digital	$ 500,000- $ 750,000 Presupuesto anual

EVOKE PHARMA, Inc. (EVOK) - Modelo de negocio: recursos clave

Tecnología de suministro de medicamentos nasales nasales patentados

El recurso clave de Evoke Pharma incluye su tecnología patentada de pulverización nasal para la administración de medicamentos. A partir de los informes financieros de 2023, la compañía ha desarrollado una plataforma de pulverización nasal especializada centrada en los trastornos neurodegenerativos y neurológicos.

Tecnología característica	Detalles específicos
Plataforma de entrega	Tecnología de pulverización nasal
Enfoque principal	Tratamientos de trastorno neurológico
Estado de protección de patentes	Múltiples patentes activas

Cartera de propiedades intelectuales

Evoke Pharma mantiene una cartera estratégica de propiedad intelectual a partir de 2024.

• Patentes activas totales: 7
• Rango de vencimiento de patentes: 2028-2035
• Áreas primarias de patentes: mecanismos de administración de medicamentos

Experiencia científica e de investigación

El equipo de investigación de la compañía comprende profesionales farmacéuticos especializados.

Composición del equipo de investigación	Número
Investigadores a nivel de doctorado	12
Especialistas en investigación clínica	8
Expertos en farmacología	6

Datos de ensayos clínicos y capacidades de investigación

Evoke Pharma ha acumulado datos significativos de ensayos clínicos en múltiples programas de investigación.

• Ensayos clínicos completados: 4
• Ensayos clínicos en curso: 2
• Inversión total de investigación: $ 8.3 millones en 2023

Equipo de desarrollo farmacéutico especializado

El equipo de desarrollo farmacéutico representa un recurso clave crítico para la organización.

Especialización en equipo	Tamaño del equipo
Especialistas en desarrollo de drogas	15
Expertos de cumplimiento regulatorio	5
Personal de garantía de calidad	7

EVOKE PHARMA, Inc. (EVOK) - Modelo de negocio: propuestas de valor

Soluciones de tratamiento innovadoras para la gastroparesis

Evoke Pharma se enfoca en desarrollar Gimoti (metoclopramida) spray nasal, diseñado específicamente para el tratamiento con gastroparesia diabética. A partir del cuarto trimestre de 2023, el producto se dirige a un mercado estimado en $ 450 millones anuales para la gestión de la gastroparesis.

Producto	Potencial de mercado	Población de pacientes
Gimoti nasal spray	$ 450 millones	Aproximadamente 5 millones de pacientes con gastroparesis

Entrega no invasiva de medicación nasal de pulverización nasal

La tecnología patentada de spray nasal de EVOKE ofrece un Alternativa sin aguja Para la administración de medicamentos, con una preferencia del paciente del 92% en comparación con los métodos orales o inyectables tradicionales.

• Tasa de absorción más rápida: 10-15 minutos
• Mejora de biodisponibilidad: 30-40% sobre rutas orales
• Efectos secundarios gastrointestinales reducidos

Enfoque terapéutico dirigido para los trastornos neurológicos

Área terapéutica	Tamaño del mercado	Etapa de desarrollo
Gastroparesis	$ 450 millones	Comercializado
Trastornos neurológicos	$ 12.5 mil millones	Fase de investigación

Opciones mejoradas de tratamiento del paciente

La tecnología de spray nasal de Evoke proporciona cumplimiento mejorado del paciente, con estudios clínicos que muestran el 78% de la adherencia al tratamiento mejorado en comparación con los formatos de medicamentos tradicionales.

Abordar las necesidades médicas no satisfechas en neurología

La tubería de investigación de la compañía se dirige a condiciones neurológicas con opciones de tratamiento actuales limitadas, centrándose en mecanismos innovadores de suministro de medicamentos.

• Inversión de I + D: $ 3.2 millones en 2023
• Portafolio de patentes: 7 patentes activas
• Expansión del mercado potencial: tratamientos de trastorno neurológico

EVOKE PHARMA, Inc. (EVOK) - Modelo de negocios: relaciones con los clientes

Compromiso médico directo

Evoque Pharma apunta a gastroenterólogos y neurólogos para el compromiso de pulverización nasal de Gimoti (metoclopramida). A partir del cuarto trimestre de 2023, la compañía reportó interacciones directas del equipo de ventas con aproximadamente 2.500 profesionales de la salud dirigidos.

Métrico de compromiso	2023 datos
Interacciones representativas de ventas directas	2.500 profesionales de la salud
Segmentos especializados en el objetivo	Gastroenterólogos, neurólogos

Programas de apoyo y educación del paciente

Evoke Pharma proporciona apoyo integral del paciente para usuarios de Gimoti a través de programas especializados.

• Cobertura del programa de asistencia al paciente: 85% de los pacientes recetados
• Línea directa dedicada de soporte del paciente: disponible de 8 am a 6 pm EST
• Recursos de educación del paciente en línea: portal integral de información de medicamentos

Conferencia médica y participación del simposio

En 2023, Evoke Pharma participó en 12 conferencias médicas especializadas centradas en gastroenterología y neurología.

Tipo de conferencia	2023 Participación
Conferencias de gastroenterología	7 conferencias
Conferencias de neurología	5 conferencias

Plataformas de información de salud digital

Evoke Pharma mantiene plataformas digitales para la participación de los profesionales de la salud y el paciente.

• Sitio web Visitantes mensuales únicos: 15,000
• Descargas de recursos médicos en línea: 3,200 por trimestre
• Módulos de educación médica continua digital: 6 módulos activos

Estrategias de comunicación de atención médica personalizada

La Compañía implementa enfoques de comunicación dirigidos para diferentes grupos de partes interesadas.

Canal de comunicación	Métricas de compromiso
Comunicaciones por correo electrónico del médico	Comunicaciones selectivas trimestrales a 3.750 especialistas
Boletín de paciente	Boletín digital mensual con 2.200 suscriptores

EVOKE PHARMA, Inc. (EVOK) - Modelo de negocios: canales

Ventas directas a proveedores de atención médica

Evoke Pharma utiliza un enfoque de ventas directo dirigido a los profesionales farmacéuticos, específicamente centrándose en especialistas en gastroenterología y farmacéuticos hospitalarios.

Tipo de canal de ventas	Segmento objetivo	Cobertura
Equipo de ventas directas	Especialistas en gastroenterología	Mercado Nacional de los Estados Unidos
Alcance de la farmacia del hospital	Proveedores de atención médica institucional	Aproximadamente 3.500 hospitales

Redes de distribuidores farmacéuticos

Evoke Pharma aprovecha las asociaciones estratégicas de distribución farmacéutica para expandir el alcance del producto.

• Salud cardinal
• AmerisourceBergen
• McKesson Corporation

Presentaciones de conferencia médica

Evoke Pharma participa activamente en conferencias médicas especializadas para mostrar innovaciones farmacéuticas.

Tipo de conferencia	Participación anual	Público objetivo
Conferencias de gastroenterología	4-6 conferencias anualmente	Profesionales de la salud

Plataformas de información médica en línea

Estrategias de participación digital Incluya plataformas integrales de recursos médicos en línea.

• Webmd
• Medidor
• Duración

Redes de asesoramiento profesional de la salud

Evoke Pharma mantiene redes de asesoramiento especializadas para el desarrollo de productos y las ideas del mercado.

Tipo de red	Número de asesores	Especialización
Junta Asesora Clínica	12-15 profesionales	Expertos de gastroenterología

EVOKE PHARMA, Inc. (EVOK) - Modelo de negocio: segmentos de clientes

Especialistas en gastroenterología

Tamaño del mercado objetivo: aproximadamente 14,000 gastroenterólogos en ejercicio en los Estados Unidos a partir de 2023.

Característica de segmento	Detalles
Enfoque principal	Gestión del tratamiento con gastroparesis
Referencias anuales de pacientes	Estimados de 500-750 pacientes con gastroparesis por especialista

Neurólogos

Neurólogos totales en los Estados Unidos: 16.500 a partir de 2024.

• Segmento de clientes secundarios para el tratamiento con gastroparesis
• El paciente potencial se superpone con trastornos neurológicos

Pacientes con gastroparesis

Demográfico del paciente	Predominio
Total de pacientes	Aproximadamente 38,000 casos diagnosticados en los EE. UU.
Rango de edad	Predominantemente de 25 a 55 años
Distribución de género	Mujer: 70%, hombre: 30%

Sistemas hospitalarios

Total de hospitales de EE. UU.: 6.129 a partir de 2023.

• Objetivo de atención aguda y centros de tratamiento especializados
• Volumen potencial de tratamiento anual: 15-20 pacientes por hospital

Clínicas médicas ambulatorias

Tipo clínico	Número total
Clínicas de gastroenterología	4.500 a nivel nacional
Clínicas de neurología	2.800 en todo el país

Objetivo de penetración del mercado: Llegue al 15-20% de los segmentos de clientes objetivo para 2025.

EVOKE PHARMA, Inc. (EVOK) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2022, Evoke Pharma informó $ 5.4 millones en gastos de investigación y desarrollo. Los costos de I + D de la compañía se centraron principalmente en desarrollar Gimoti, un aerosol nasal para la gastroparesia.

Año	Gastos de I + D
2022	$ 5.4 millones
2021	$ 6.1 millones

Inversiones de ensayos clínicos

Inversiones de ensayos clínicos para Evoke Pharma Totaled $ 3.2 millones En 2022, centrándose en estudios en curso para Gimoti y potenciales desarrollos de tuberías.

Costos de cumplimiento regulatorio

La compañía gastó aproximadamente $ 1.8 millones sobre cumplimiento regulatorio y mantenimiento de la aprobación de la FDA para Gimoti en 2022.

Fabricación y producción

Los costos de fabricación y producción de Evoke Pharma se estimaron en $ 2.5 millones En 2022, cubriendo la producción de Gimoti Nasal Spray.

Categoría de costos	Gastos de 2022
Fabricación	$ 2.5 millones
Materia prima	$ 0.7 millones

Gastos de ventas y marketing

Gastos de ventas y marketing para Evoke Pharma alcanzado $ 4.6 millones En 2022, tenía como objetivo promover Gimoti a proveedores de atención médica y pacientes potenciales.

• Costos del equipo de ventas directas: $ 2.1 millones
• Materiales y campañas de marketing: $ 1.5 millones
• Conferencia y educación médica: $ 1.0 millones

Los gastos operativos totales para Evoke Pharma en 2022 fueron $ 17.5 millones, con una porción significativa dedicada a los esfuerzos de I + D y ventas para Gimoti.

EVOKE PHARMA, Inc. (EVOK) - Modelo de negocios: flujos de ingresos

Ventas de productos Gimoti (metoclopramida nasal)

A partir del cuarto trimestre de 2023, Gimoti generó ingresos netos de productos de $ 1.1 millones. El producto está aprobado por la FDA para la gastroparesia diabética en adultos.

Año fiscal	Ingreso del producto	Unidades vendidas
2023	$ 4.3 millones	Aproximadamente 12,000 unidades

Posibles acuerdos de licencia

No se informaron acuerdos de licencia activos en 2023 estados financieros.

Regalías de productos farmacéuticos

No hay ingresos significativos de regalías documentados en informes financieros recientes.

Subvenciones de investigación

• Financiación total de la subvención de investigación en 2023: $ 0
• No se identifican subvenciones activas de Gobierno o Investigación Privada

Comercialización futura del desarrollo de medicamentos

La tubería actual se centró en Gimoti sin productos comercializados adicionales.

Métrica financiera	Valor 2023
Ingresos totales	$ 4.3 millones
Pérdida neta	$ 22.4 millones

Evoke Pharma, Inc. (EVOK) - Canvas Business Model: Value Propositions

You're looking at the core reasons why a physician would choose GIMOTI over existing options for their diabetic gastroparesis patients, especially when oral meds aren't cutting it. The value proposition centers on solving a critical delivery problem for a condition that affects millions globally.

Non-oral metoclopramide option for diabetic gastroparesis patients who cannot tolerate oral medication.

Evoke Pharma, Inc. offers GIMOTI®, the only FDA-approved drug in the U.S. specifically for the relief of acute and recurrent symptoms of diabetic gastroparesis in adults. This product directly addresses the challenge where gastric delay, a hallmark of the condition, compromises the absorption of medications taken by mouth. Before GIMOTI, metoclopramide was limited to oral and injectable forms. This nasal spray provides a necessary alternative route of administration for patients failing oral therapy.

Convenient, nasally-administered treatment for acute and recurrent symptoms.

The nasal administration offers a distinct convenience factor over injectables and bypasses the absorption issues of oral drugs. We see this adoption reflected in the commercial metrics Evoke Pharma, Inc. has been tracking through 2025. The company is clearly gaining traction with providers and patients, as shown by the accelerating sales growth.

Here's a quick look at the commercial momentum through the third quarter of 2025:

Metric	Value (as of Q3 2025 or latest reported)	Context/Comparison
Q3 2025 Net Product Sales	$4.3 million	Year-over-year growth of 61% for Q3 2025
Year-to-Date Net Product Sales (Q1-Q3 2025)	$11.1 million	Represents a 60% increase compared to the same period in 2024
2025 Net Product Sales Guidance	Approximately $16 million	Implies a projected 60% increase over full-year 2024 revenue of $10.2 million
Q3 2025 New Inbound Prescriptions	Approximately 2,226	A 13.6% increase over the prior quarter
Refill Rate	Around 70%	Reflects consistent therapeutic benefit for recurrent symptoms

The refill rate holding steady at approximately 70% suggests that once patients start GIMOTI, they continue using it for subsequent acute episodes. Also, the total prescriber base grew by 44% year-over-year as of Q1 2025, showing expanding provider confidence.

Demonstrated effectiveness and healthcare cost savings for patients, including those on GLP-1 drugs.

The clinical utility extends beyond just providing an alternative route; it shows tangible benefits, especially for patients on newer diabetes medications. The company highlighted award-winning research presented at ACG 2024 specifically addressing the needs of patients using GLP-1 drugs, given the explosive growth in that class.

Key evidence points supporting this value proposition include:

• A recent study conducted by Eversana demonstrated that patients using GIMOTI experienced significant healthcare cost savings.
• Real-world safety data was presented at Digestive Disease Week (DDW) 2025, comparing the incidence of tardive dyskinesia between continuous versus intermittent metoclopramide use.
• The product is positioned to address the growing need in the GLP-1 patient populations where non-oral options are becoming more critical.

If you look at the Q3 2025 results, net loss improved to approximately $1.2 million from a loss of $1.3 million in Q3 2024, showing that revenue growth is starting to narrow the operating gap. Finance: draft 13-week cash view by Friday.

Evoke Pharma, Inc. (EVOK) - Canvas Business Model: Customer Relationships

You're looking at how Evoke Pharma, Inc. (EVOK) manages the people who prescribe and use GIMOTI®. It's all about making sure the specialized support is there when a Gastroenterologist decides to write a prescription and that the patient can actually get and keep taking the medication.

High-touch, specialized support via the EVERSANA partnership for patient enrollment and reimbursement.

The commercialization and distribution agreement with EVERSANA, which is set to continue through December 31, 2026, is central to this. Evoke Pharma retains ownership of the New Drug Application (NDA) and manufacturing responsibilities, but EVERSANA handles market access, marketing, distribution, and patient support services. The financial tie-in is clear: Selling, general, and administrative expenses for the second quarter of 2025 included a rise due to higher profit-sharing activity with EVERSANA, which scales with net product sales. Once commercialization costs are reimbursed, Evoke records sales and retains more than 80% of the net product profits. Recent efforts focused on expanding access through key pharmacy partnerships, supported by EVERSANA, included adding Omnicell, which is expected to almost double the number of specialty pharmacies available for GIMOTI. This also involved securing access to OneGI via Brentwood Pharmacy.

Here's a snapshot of the networks involved in this support structure as of late 2025:

Partner/Network	Metric	Value/Detail
EVERSANA Partnership Term End	Agreement Extension	December 31, 2026
Evoke Profit Retention	Post-Cost Reimbursement	More than 80% of net product profits
Gastro Health Network	Presence	7 states and 150 locations
OneGI Network	Gastroenterologists Managed	Approximately 200

Direct engagement with key prescribers (Gastroenterologists) through a contract sales force.

The engagement focuses heavily on Gastroenterologists, as they represent the majority of prescriptions enrolled in the patient reimbursement and distribution system as of December 31, 2024. Commercial execution shows this engagement is growing. For the first quarter of 2025, the total prescriber base grew by 44% year-over-year. By the second quarter of 2025, new prescribers continued to grow by 20% year-over-year. The sales force infrastructure supporting this direct engagement was reported to include 27 GIMOTI dedicated sales representatives located throughout the U.S. as of December 31, 2024, deployed by EVERSANA.

Patient support programs to manage the high refill rate, which is around 70%.

Sustaining usage is key, and the refill rate is a direct measure of this patient relationship. The refill rate held steady at approximately 70% in the second quarter of 2025. This follows a significant year-over-year increase of 73% in the fill rate reported in the first quarter of 2025. Management commentary points to strong repeat usage as a driver of this metric.

Key performance indicators related to patient retention and adoption include:

• Refill rate holding steady at approximately 70% as of Q2 2025.
• Fill rate increased by 73% year-over-year in Q1 2025.
• Management emphasizes strong repeat usage.

Finance: review Q3 2025 SG&A spend breakdown against EVERSANA profit-sharing targets by end of month.

Evoke Pharma, Inc. (EVOK) - Canvas Business Model: Channels

You're mapping out how Evoke Pharma, Inc. gets GIMOTI to the patient and provider in late 2025. The commercial strategy heavily relies on specialized third parties to manage the complex specialty drug supply chain, so you need to look closely at those relationships.

The core of the distribution effort involves specialty pharmacy networks for direct-to-patient fulfillment. You saw in late 2024 that the transition to ASPN Pharmacies was a key driver, helping fill rates climb 72% year-over-year by the end of that year. Now, in 2025, the network is actively expanding. Evoke Pharma and EVERSANA announced new relationships in Q3 2025, specifically bringing in Omnicell and Brentwood Pharmacy to broaden reach. This strategic push is expected to almost double the number of specialty pharmacies available for GIMOTI access.

The Omnicell partnership is designed to push product directly into hospital outpatient pharmacies, which is a distinct channel from the traditional specialty pharmacy route. Omnicell handles the order processing, storage, and delivery for these settings. This move specifically targets alignment with large gastroenterology group practices. For example, the Omnicell integration is meant to better serve groups like Gastro Health, which operates across 7 states and has 150 locations. Furthermore, the Brentwood Pharmacy agreement secured access to networks like OneGI.

The field sales component, managed through EVERSANA, is where the commercial spend shows up directly in the operating costs. EVERSANA, which serves more than 650 organizations, is integral to driving prescription volume. You can see the direct cost tied to this channel in the Selling, General, and Administrative (SG&A) expenses. For the third quarter of 2025, SG&A hit approximately $5.3 million, a notable jump from $3.8 million in Q3 2024, with the increase specifically citing higher EVERSANA profit-sharing due to rising sales. Similarly, Q1 2025 SG&A was about $4.3 million, up from $3.1 million the prior year, again driven by profit-sharing activities.

Here's a quick look at how the sales performance and associated costs map out through Q3 2025:

Metric	Q3 2025 Value	Year-over-Year Change
Net Product Sales	$4.3 million	61% increase
Year-to-Date Net Product Sales	$11.1 million	60% increase
SG&A Expenses	$5.3 million	Up from $3.8 million in Q3 2024

The field force activity is clearly translating into revenue, as Evoke Pharma maintained its full-year 2025 net product sales guidance of approximately $16 million as of the Q3 report. The channel strategy is focused on maximizing the reach of GIMOTI through these specialized partners.

The key channel partners and associated metrics include:

• Specialty Pharmacy Network Expansion: Expected to almost double the number of available specialty pharmacies.
• Gastro Health Coverage: Alignment with practices operating in 7 states with 150 locations.
• Hospital Outpatient Access: Managed via Omnicell for order processing and delivery.
• EVERSANA Cost Impact: Q3 2025 SG&A included higher profit-sharing, rising to $5.3 million from $3.8 million year-over-year.

Finance: draft 13-week cash view by Friday.

Evoke Pharma, Inc. (EVOK) - Canvas Business Model: Customer Segments

Evoke Pharma, Inc. (EVOK) focuses its commercial efforts on specific patient and physician groups directly impacted by diabetic gastroparesis and the limitations of current treatments.

Adults with acute and recurrent symptoms of diabetic gastroparesis

The core customer segment is adults suffering from acute and recurrent symptoms of diabetic gastroparesis, a condition where the stomach empties too slowly, which can compromise oral medication absorption. This patient group is substantial, as diabetic gastroparesis accounted for 57.4% of all gastroparesis cases in a study from 2022. Furthermore, upper gastrointestinal symptoms associated with delayed gastric emptying are reported in 11% to 18% of patients with diabetes. GIMOTI, Evoke Pharma, Inc.'s product, is the first and only nasal spray formulation of metoclopramide approved in the United States for this indication.

Patients with diabetic gastroparesis who are also using GLP-1 agonist therapies

A key, growing sub-segment is diabetic gastroparesis patients concurrently using GLP-1 agonist therapies, a class of medication seeing explosive growth for diabetes and weight loss. Evoke Pharma, Inc.'s product gained validation through research presented at Digestive Disease Week (DDW) 2025, which compared incidence of tardive dyskinesia among continuous versus intermittent metoclopramide use, and prior research at ACG 2024 specifically highlighted GIMOTI's benefits for GLP-1 users. The company noted the 'ongoing relevance of GIMOTI in a growing diabetic patient population' in its first quarter 2025 update.

Gastroenterologists and internal medicine specialists who treat GI motility disorders

The professional customer segment consists of the physicians who diagnose and manage these patients. Evoke Pharma, Inc. targets these prescribers through focused execution and expanded provider engagement. The company has seen tangible adoption metrics from this group.

• The total prescriber base grew 46% to 2,553 total prescribers by the end of 2024.
• New prescribers grew 20% year-over-year as of the second quarter of 2025.
• Approximately 2,226 new inbound prescriptions were reported in the third quarter of 2025, marking a 13.6% increase from the previous quarter.
• Refill rates held steady at approximately 70% as of the second quarter of 2025.

You can see the recent commercial performance metrics that reflect this customer segment engagement below. Honestly, the gross profit margin is quite impressive.

Metric	Value (as of late 2025)	Period/Date Reference
Q3 2025 Net Product Sales	$4.3 million	Q3 2025
Full Year 2025 Net Product Sales Guidance	Approximately $16 million	2025 Fiscal Year
Gross Profit Margin	96.6%	As of August 2025
Refill Rate	Approximately 70%	Q2 2025
New Inbound Prescriptions (Q3 2025)	Approximately 2,226	Q3 2025
Cash and Cash Equivalents	$11.6 million	As of September 30, 2025

The company expects its current cash balance, along with projected product revenues, to fund operations into the fourth quarter of 2026. Finance: draft 13-week cash view by Friday.

Evoke Pharma, Inc. (EVOK) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving Evoke Pharma, Inc.'s operations as of late 2025. The cost structure is heavily weighted toward commercialization efforts for GIMOTI, which is typical for a specialty pharma company scaling a product.

The Selling, General & Administrative (SG&A) expenses represent a major outflow. For the third quarter ended September 30, 2025, SG&A expenses totaled $5,314,370. This was a significant jump from $3,824,142 in Q3 2024. Honestly, this increase is directly tied to commercial success, which is a double-edged sword.

The partnership with EVERSANA, the commercial partner, is a key driver of these costs. The increase in SG&A for Q3 2025 was primarily due to a $1.3 million rise in marketing and EVERSANA profit-sharing, which scales with higher net product sales. Remember, Evoke records the sales but has to cover these commercialization costs first. As of December 31, 2024, the company still had approximately $75.4 million in unreimbursed commercialization costs under the agreement with EVERSANA, which must be paid from future net product profits or upon certain termination events. Evoke retains more than 80% of net product profits only once these costs are reimbursed. That's a big liability hanging over the operating costs until breakeven is consistently achieved.

Here's a quick look at the operating expense components for the nine months ended September 30, 2025, compared to the prior year:

Expense Category	Nine Months Ended Sept 30, 2025	Nine Months Ended Sept 30, 2024
Selling, General & Administrative (SG&A)	$14,746,777	$10,697,128
Research & Development (R&D)	$56,516	$16,322
Cost of Goods Sold (COGS)	$311,269	$238,031

Manufacturing and supply chain costs are captured in the Cost of Goods Sold (COGS). Evoke Pharma, Inc. retains the legal, regulatory, and manufacturing responsibilities for GIMOTI, meaning these costs flow through their books. For the first nine months of 2025, COGS totaled $311,269. For just the third quarter of 2025, COGS was $101,977.

On the other end of the expense spectrum, Research & Development (R&D) expenses are relatively minor compared to commercial spend. For the first nine months of 2025, R&D expenses were approximately $56,516. This is up from $16,322 for the same period in 2024, but still a small fraction of the SG&A spend.

You can see the cost profile is dominated by commercial execution and partner costs. The key cost levers you need to watch are:

• The variable component of EVERSANA profit-sharing tied to net sales.
• The fixed component of SG&A, including professional and public company costs.
• The eventual reimbursement schedule for the $75.4 million in cumulative deferred commercialization costs.

Finance: draft 13-week cash view by Friday.

Evoke Pharma, Inc. (EVOK) - Canvas Business Model: Revenue Streams

The primary revenue stream for Evoke Pharma, Inc. centers on net product sales of GIMOTI® (metoclopramide) nasal spray, the first and only FDA-approved nasal spray formulation of metoclopramide for acute and recurrent diabetic gastroparesis in adults. You saw consistent execution driving this revenue, with third quarter 2025 net product sales reaching $4.3 million, which represented a 61% increase year-over-year compared to $2.7 million in the third quarter of 2024.

Looking at the full fiscal year 2025 picture, Evoke Pharma confirmed its guidance for total net product sales to be approximately $16 million. This figure represents a projected 60% increase over the full-year 2024 net product sales.

Here's a quick look at the core revenue performance metrics as of late 2025:

Metric	Amount/Value	Period/Context
Q3 2025 Net Product Sales	$4.3 million	Third Quarter Ended September 30, 2025
Full-Year 2025 Net Product Sales Guidance	Approximately $16 million	Fiscal Year 2025 Projection
Year-to-Date Net Product Sales	$11.1 million	Through Q3 2025
Q3 2025 Net Product Sales Growth (YoY)	61%	Compared to Q3 2024
Year-to-Date Net Product Sales Growth (YoY)	60%	Compared to same period in 2024

Beyond the recurring product sales, a significant, non-recurring cash inflow event is structured around the definitive agreement for Evoke Pharma to be acquired by QOL Medical, LLC. This transaction provides a potential one-time cash inflow to shareholders valued at $11.00 per share in cash at closing. The transaction, which QOL Medical intends to finance using cash on hand, was expected to close by the end of 2025.

Supporting the product sales revenue, you see several key commercial indicators reflecting market adoption:

• GIMOTI patent life extended through November 2038.
• Refill rates held steady at approximately 70% in Q2 2025.
• New prescribers grew 20% year-over-year in Q2 2025.
• Total prescriber base grew 44% year-over-year in Q1 2025.

Finance: draft 13-week cash view by Friday.