8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 13, 2025

EVOKE PHARMA, INC.

(Exact name of Registrant as Specified in Its Charter)

Delaware	001-36075	20-8447886
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
420 Stevens Avenue, Suite 230
Solana Beach, California		92075
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: 858 345-1494

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.0001 per share	EVOK	The Nasdaq Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On May 13, 2025, Evoke Pharma, Inc. issued a press release announcing its financial results for the first quarter ended March 31, 2025. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
99.1	Press Release issued on May 13, 2025
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			EVOKE PHARMA, INC.
Date:	May 13, 2025	By:	/s/ Matthew J. D'Onofrio
			Name: Matthew J. D'Onofrio Title: Chief Executive Officer and Director

EX-99.1

Evoke Pharma Reports First Quarter 2025 Financial Results and Provides Business Update

Q1 2025 Net Product Sales Increased 77% Year-over-Year to $3.1 Million

Sustained Momentum Driven by Growing Prescriber Adoption and Repeat Patient Use

SOLANA BEACH, Calif., May 13, 2025 (GLOBE NEWSWIRE) -- Evoke Pharma, Inc. (NASDAQ: EVOK), a specialty pharmaceutical company focused on treatments for gastrointestinal (GI) disorders with an emphasis on GIMOTI®, today announced financial results for the first quarter ended March 31, 2025, and provided a business update.

“We’re pleased to report continued strong revenue growth in the first quarter of 2025,” said Matt D’Onofrio, Chief Executive Officer of Evoke Pharma, Inc. “Net product sales rose 77% year-over-year, underscoring the strength of our commercial execution and GIMOTI’s growing adoption. We believe the underlying demand drivers remain strong—we achieved a 73% increase in fill rate and a 44% increase in our total prescriber base compared to Q1 last year. These improvements reflect continued depth of engagement and expanding interest among healthcare providers.”

First Quarter 2025 Highlights and Recent Developments

Corporate Governance

•Appointed Greg Pyszczymuka to the Board of Directors. His extensive experience in commercial strategy and revenue growth will be valuable as the company advances its market position.

Commercial Execution

•GIMOTI demonstrated solid momentum in Q1 with strong repeat usage, increasing prescription depth, and stable conversion rates.

•Realized a 73% year-over-year increase in fill rate, driven by expanded pharmacy partnerships and reduced fulfillment friction.

•Grew the total prescriber base by 44%, with increased provider confidence in GIMOTI’s efficacy and convenience.

•Maintained strategic emphasis on GLP-1 patient populations, where the need for effective non-oral options continues to grow.

First Quarter 2025 Financial Results

For the first quarter of 2025, net product sales were approximately $3.1 million compared with $1.7 million during the first quarter of 2024, and net loss was approximately $1.3 million ($0.51 per share) compared with $1.6 million, ($2.09 per share) for the first quarter of 2024.

For the first quarter of 2025, selling, general, and administrative expenses were approximately $4.3 million compared to $3.1 million for the first quarter of 2024. The increase was due to higher professional fees and reimbursement and profit-sharing activity with EVERSANA as a result of an increase in net product sales.

Total operating expenses for the first quarter of 2025 were approximately $4.4 million compared to $3.2 million for the same period in 2024.

As of March 31, 2025, cash and cash equivalents were approximately $12.6 million. We believe, based on our current operating plan, that our existing cash and cash equivalents, as well as future cash flows from net product sales of GIMOTI, will be sufficient to fund our operations into the second quarter of 2026.

2025 Outlook

Evoke reiterates its 2025 net product sales guidance of approximately $16 million, reflecting a 60% increase over 2024. Evoke’s 2025 guidance is dependent on its current business and expectations, including recent growth rates in net product sales, assumptions regarding reimbursements and prescription fills, as well as factors that are outside of our control, such as the global macroeconomic and geopolitical environment, continued supply chain constraints and inflationary pressures.

“We’ve entered 2025 with strong momentum and a clear path forward,” added Mr. D’Onofrio. “With focused execution, expanded provider engagement, and the ongoing relevance of GIMOTI in a growing diabetic patient population, we’re confident in our ability to continue delivering growth and impact for patients who need better treatment options.”

About Evoke Pharma, Inc.

Evoke is a specialty pharmaceutical company focused primarily on the development of drugs to treat GI disorders and diseases. We developed, commercialized and markets GIMOTI, a nasal spray formulation of metoclopramide, for the relief of symptoms associated with acute and recurrent diabetic gastroparesis in adults.

Diabetic gastroparesis is a GI disorder affecting millions of patients worldwide, in which the stomach takes too long to empty its contents resulting in serious GI symptoms as well as other systemic complications. The gastric delay caused by gastroparesis can compromise absorption of orally administered medications. Prior to FDA approval to commercially market GIMOTI, metoclopramide was only available in oral and injectable formulations and remains the only drug currently approved in the United States to treat gastroparesis.

Visit www.EvokePharma.com for more information.
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About Gimoti® (metoclopramide) nasal spray

GIMOTI is indicated for the relief of symptoms in adults with acute and recurrent diabetic gastroparesis. Important Safety Information

WARNING: TARDIVE DYSKINESIA

•Metoclopramide can cause tardive dyskinesia (TD), a serious movement disorder that is often irreversible. The risk of developing TD increases with duration of treatment and total cumulative dosage.

•Discontinue GIMOTI in patients who develop signs or symptoms of TD. In some patients, symptoms may lessen or resolve after metoclopramide is stopped.

•Avoid treatment with metoclopramide (all dosage forms and routes of administration) for longer than 12 weeks because of the increased risk of developing TD with longer-term use.

GIMOTI is not recommended for use in:

•Pediatric patients due to the risk of developing tardive dyskinesia (TD) and other extrapyramidal symptoms as well as the risk of methemoglobinemia in neonates.

•Moderate or severe hepatic impairment (Child-Pugh B or C), moderate or severe renal impairment (creatinine clearance less than 60 mL/minute), and patients concurrently using strong CYP2D6 inhibitors due to the risk of increased drug exposure and adverse reactions.

GIMOTI is contraindicated:

•In patients with a history of tardive dyskinesia (TD) or a dystonic reaction to metoclopramide.

•When stimulation of gastrointestinal motility might be dangerous (e.g., in the presence of gastrointestinal hemorrhage mechanical obstruction, or perforation).

•In patients with pheochromocytoma or other catecholamine-releasing paragangliomas. Metoclopramide may cause a hypertensive/pheochromocytoma crisis, probably due to release of catecholamines from the tumor.

•In patients with epilepsy. Metoclopramide may increase the frequency and severity of seizures.

•In patients with hypersensitivity to metoclopramide. Reactions have included laryngeal and glossal angioedema and bronchospasm.

Potential adverse reactions associated with metoclopramide include: Tardive dyskinesia (TD), other extrapyramidal effects (EPS), parkinsonism symptoms, motor restlessness, neuroleptic malignant syndrome (NMS), depression, suicidal ideation and suicide, hypertension, fluid retention, hyperprolactinemia, effects on the ability to drive and operate machinery. Most common adverse reactions (≥5%) for GIMOTI are: dysgeusia, headache, and fatigue. These are not all of the possible side effects of GIMOTI. Call your doctor for medical advice about whether you should take GIMOTI and the possible risk factors and side effects. You are encouraged to report negative side effects of prescription drugs to the FDA.

Visit www.fda.gov/medwatch or call 1-800-FDA-1088.

Safe Harbor Statement

Evoke cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negatives of these terms or other similar expressions.

These statements are based on the company’s current beliefs and expectations. These forward-looking statements include statements regarding: guidance regarding 2025 net product sales; potential future provider engagement; the ongoing relevance of GIMOTI in a growing diabetic population; Evoke’s commercialization plans, including underlying drivers of potential growth and seasonality in sales; and Evoke’s expected cash runway. The inclusion of forward-looking statements should not be regarded as a representation by Evoke that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Evoke’s business, including, without limitation: Evoke may not be able to achieve its guidance for 2025 including as a result of decreased demand for GIMOTI; Evoke’s and EVERSANA’s ability to successfully drive market demand for GIMOTI; Evoke’s ability to obtain additional financing as needed to support its operations; Evoke may use its capital resources sooner than expected; EVERSANA may terminate the commercial services agreement and loan agreement which would require us to repay the outstanding principal and interest underlying our loan agreement with EVERSANA; Evoke’s dependence on third parties for the manufacture of GIMOTI; Evoke is entirely dependent on the success of GIMOTI; inadequate efficacy or unexpected adverse side effects relating to

GIMOTI that could result in recalls or product liability claims; Evoke’s ability to maintain intellectual property protection for GIMOTI; and other risks and uncertainties detailed in Evoke’s prior press releases and in the periodic reports it files with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Evoke undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Investor & Media Contact:
Daniel Kontoh-Boateng
DKB Partners
Tel: 862-213-1398
dboateng@dkbpartners.net

Evoke Pharma, Inc.

Balance Sheets

	March 31,			December 31,
	2025			2024
	(Unaudited)
Assets
Current assets:
Cash and cash equivalents	$	12,624,090		$	13,596,600
Accounts receivable, net of allowance for credit losses of $0		2,511,490			2,420,373
Prepaid expenses		523,910			731,945
Inventories		532,145			445,081
Other current assets		39,240			43,898
Total current assets		16,230,875			17,237,897
Operating lease right-of-use asset		138,758			154,184
Deferred offering costs		—			120,614
Other long-term assets		6,312			6,312
Total assets	$	16,375,945		$	17,519,007
Liabilities and stockholdersʼ equity
Current liabilities:
Accounts payable and accrued expenses	$	2,781,203		$	2,341,191
Accrued compensation		371,732			865,650
Operating lease liability		61,625			59,533
Note payable		5,000,000			5,000,000
Accrued interest payable		2,236,953			2,113,665
Total current liabilities		10,451,513			10,380,039
Operating lease liability, net of current portion		83,217			100,958
Total liabilities		10,534,730			10,480,997
Commitments and contingencies
Stockholdersʼ equity:
Preferred stock, $0.0001 par value; authorized shares — 5,000,000    as of March 31, 2025 and December 31, 2024; issued and    outstanding shares — zero as of March 31, 2025 and December 31, 2024		—			—
Common stock, $0.0001 par value; authorized shares — 100,000,000 and    50,000,000 as of March 31, 2025 and December 31, 2024, respectively;    issued and outstanding shares — 1,492,858 and 1,486,009 as of    March 31, 2025 and December 31, 2024, respectively		149			149
Additional paid-in capital		135,938,876			135,829,493
Accumulated deficit		(130,097,810	)		(128,791,632	)
Total stockholdersʼ equity		5,841,215			7,038,010
Total liabilities and stockholdersʼ equity	$	16,375,945		$	17,519,007

Evoke Pharma, Inc.

Statements of Operations

	Three Months Ended March 31,
	2025			2024
Net product sales	$	3,080,158		$	1,735,490
Operating expenses:
Cost of goods sold		41,613			92,529
Research and development		42,783			4,645
Selling, general and administrative		4,297,505			3,139,536
Total operating expenses		4,381,901			3,236,710
Loss from operations		(1,301,743	)		(1,501,220	)
Other income (expense):
Interest income		118,853			46,058
Interest expense		(123,288	)		(124,658	)
Total other expense		(4,435	)		(78,600	)
Net loss	$	(1,306,178	)	$	(1,579,820	)
Net loss per share of common stock, basic and diluted	$	(0.51	)	$	(2.09	)
Weighted-average shares used to compute basic and diluted      net loss per share		2,548,684			756,808

Evoke Pharma, Inc.

Statements of Cash Flows

	Three Months Ended March 31,
	2025			2024
Operating activities
Net loss	$	(1,306,178	)	$	(1,579,820	)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense		84,384			254,029
Non-cash interest expense		123,288			124,658
Non-cash operating lease expense		19,147			—
Change in operating assets and liabilities:
Accounts receivable		(91,117	)		(778,833	)
Prepaid expenses and other assets		333,307			222,045
Inventories		(87,064	)		(106,936	)
Accounts payable and accrued expenses		440,012			343,596
Accrued compensation		(493,918	)		(1,058,129	)
Operating lease liabilities		(19,370	)		—
Net cash used in operating activities		(997,509	)		(2,579,390	)
Financing activities
Proceeds from February 2024 Offering		—			6,718,211
Payment of February 2024 Offering costs		—			(426,292	)
Proceeds from March 2024 Warrant Amendment		—			1,250,800
Proceeds from the issuance of common stock pursuant to the ESPP		24,999			—
Net cash provided by financing activities		24,999			7,542,719
Net (decrease) increase in cash and cash equivalents		(972,510	)		4,963,329
Cash and cash equivalents at beginning of period		13,596,600			4,739,426
Cash and cash equivalents at end of period	$	12,624,090		$	9,702,755
Supplemental disclosure of non-cash investing and financing activities
Offering costs in accounts payable and accrued expenses	$	—		$	20,926

XML

Document And Entity Information	May 13, 2025
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	May 13, 2025
Entity Registrant Name	EVOKE PHARMA, INC.
Entity Central Index Key	0001403708
Entity Emerging Growth Company	false
Entity File Number	001-36075
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-8447886
Entity Address, Address Line One	420 Stevens Avenue, Suite 230
Entity Address, City or Town	Solana Beach
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92075
City Area Code	858
Local Phone Number	345-1494
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	EVOK
Security Exchange Name	NASDAQ