Evoke Pharma Announces Closing of Public Offering of Common Stock and Full Exercise of Underwriter’s Option to Purchase Add...
January 20 2021 - 8:30AM
Evoke Pharma, Inc. (Nasdaq: EVOK), a specialty pharmaceutical
company focused on treatments for gastrointestinal (GI) disorders
and diseases, announced today the completion of its follow-on
offering of 5,750,000 shares of its common stock, including 750,000
shares of common stock sold pursuant to the underwriter’s full
exercise of its option to purchase additional shares, at a price to
the public of $2.50 per share. The gross proceeds from the
offering were approximately $14.4 million, before underwriting
discounts and commissions and estimated offering costs.
Evoke intends to use the net proceeds from the
offering for working capital and general corporate purposes,
including funding commercialization activities, research and
development activities, clinical trial expenditures, and possible
acquisition of new technologies or products.
Laidlaw & Company (UK) Ltd. acted as sole
book-running manager for the offering.
The offering is being conducted pursuant to a
shelf registration statement (File No. 333-251614) previously filed
and declared effective by the Securities and Exchange Commission
(SEC). A final prospectus supplement and accompanying prospectus
relating to this offering were filed with the SEC and are available
free of charge on the website of the SEC at www.sec.gov. Copies of
the final prospectus supplement and the accompanying prospectus
relating to this offering may also be obtained from Laidlaw &
Company (UK) Ltd, Attention: Syndicate Department, 521 Fifth
Avenue, New York, NY 10175, by telephone at (212) 953-4917 or by
email at syndicate@laidlawltd.com.
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.
About Evoke Pharma, Inc.
Evoke is a specialty pharmaceutical company focused
primarily on the commercialization and development of drugs to
treat GI disorders and diseases. The Company developed 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.
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
anticipated use of proceeds from the offering. 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 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 GroupJames
SaliernoTel: 973-255-8361jsalierno@theruthgroup.com
Media Contact:The Ruth GroupAnnika ParrishTel:
720-412-9042aparrish@theruthgroup.com
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