Evoke Pharma Announces Proposed Public Offering of Common Stock
February 15 2017 - 4:42PM
Evoke Pharma, Inc. (Nasdaq:EVOK), a specialty pharmaceutical
company focused on treatments for gastrointestinal (GI) diseases,
today announced that it intends to offer and sell shares of its
common stock in a “firm commitment” underwritten public offering.
Evoke also expects to grant to the underwriter
for the offering a 45-day option to purchase an additional 15% of
the shares of common stock offered in the public offering. All of
the shares to be sold in the offering are to be sold by Evoke.
Evoke intends to use the net proceeds from the offering to fund
clinical development, pre-approval and pre-commercialization
activities for Gimoti, including the planned comparative exposure
trial and planned NDA submission, and for working capital and
general corporate purposes.
Laidlaw & Company (UK) Ltd. is acting as
sole book-running manager for the offering. The offering is subject
to market conditions, and there can be no assurance as to whether
or when the offering may be completed, or as to the actual size or
terms of the offering.
The securities described above are being offered
by Evoke pursuant to a registration statement (File No. 333-200176)
previously filed and declared effective by the Securities and
Exchange Commission (SEC). A preliminary prospectus supplement and
accompanying prospectus relating to this offering will be filed
with the SEC. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any
sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or jurisdiction. When available, copies of the preliminary
prospectus supplement and the accompanying prospectus relating to
this offering may be obtained from Laidlaw & Company (UK) Ltd,
Attention: Syndicate Department, 546 Fifth Avenue, New York, NY
10036, by telephone at (212) 953-4900 or by email at
syndicate@laidlawltd.com. Electronic copies of the preliminary
prospectus supplement and accompanying prospectus will also be
available on the website of the SEC at www.sec.gov.
About Evoke Pharma, Inc.
Evoke is a specialty pharmaceutical company
focused primarily on the development of drugs to treat GI disorders
and diseases. Evoke is developing Gimoti, a metoclopramide nasal
spray for the relief of symptoms associated with acute and
recurrent gastroparesis in women with diabetes mellitus. Diabetic
gastroparesis is a GI disorder afflicting millions of sufferers
worldwide, in which the stomach takes too long to empty its
contents resulting in serious digestive system symptoms.
Metoclopramide is the only product currently approved in the United
States to treat gastroparesis, and is currently available only in
oral and intravenous forms. Gimoti is a novel formulation of this
drug, designed to provide systemic delivery of metoclopramide
through nasal administration. Visit www.EvokePharma.com for
more information.
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
Evoke's current beliefs and expectations. These forward-looking
statements include statements regarding Evoke’s expectations on the
completion and timing of the offering and the anticipated use of
proceeds therefrom. 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
associated with market conditions and the satisfaction of customary
closing conditions related to the proposed public offering and
other risks and uncertainties inherent in Evoke’s business,
including those described in Evoke's periodic filings with the SEC
and the prospectus supplement and related prospectus for this
offering filed with the SEC. 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 Contact:
The Ruth Group
Tram Bui
Tel: 646-536-7035
tbui@theruthgroup.com
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