The following is a summary of the Evoke Pharma, Inc. (EVOK) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Evoke Pharma reported net revenue for GIMOTI doubled over the last year.

• New prescriptions grew by 86% and total prescriptions dispensed increased by 101% year-over-year.

• The company forecasts a net revenue of approximately $14 million for 2024, nearly tripling its performance in 2023.

• Q4 net product sales were roughly $1.7 million, a noteworthy increase from $796,000 in Q4 of 2022.

• The company's net loss for Q4 was $2 million or $0.59 per share, compared to $1.8 million or $0.54 per share in the corresponding period of the previous year.

• For the full year 2023, net product sales were about $5.2 million, compared to around $2.5 million in 2022.

• Operating expenses for 2023 totaled around $12.6 million, up from about $10.3 million in 2022, primarily due to higher marketing royalty and Eversana profit sharing costs.

Business Progress:

• Evoke Pharma expanded its prescriber base by 72% and deepened their prescribing by 36%.

• The company has reported positive patient experiences related to GIMOTI.

• Evoke Pharma transitioned its pharmacy services to ASPN to meet its distribution needs better, enhance patient access, and streamline services.

• The company doubled the patient count on GIMOTI therapy in 2023 and anticipates further growth in 2024.

• Evoke Pharma started partnering with ASPN Pharmacy to access a wider pharmacy network and improve GIMOTI fill rates.

• Through increased communication and education about tardive dyskinesia, Evoke Pharma aims to shift the narrative from fear to informed prescribing.

• They plan to invest in patient and provider education, aiming to shift the narrative around tardive dyskinesia and promote informed prescribing.

• They have evolved their distribution and pharmacy capabilities; from implementing EvokeAssist, upgrading to VidaCare, to partnering with Asembia; enabling them to scale their reach further.

• Growth has been driven by relationships with ASPN Pharmacy and high real-world data comparing GIMOTI to oral metoclopramide.

• The company is monitoring the potential impact on its business from the situation with Change Healthcare.

• Evoke Pharma is exploring a possible correlation between the use of GLP-1 agonists and the increase in the number of people suffering from gastroparesis, anticipating a potential market opportunity if a link is confirmed.

More details: Evoke Pharma IR

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