Evoke Pharma, Inc. (EVOK) filed 8-K

Evoke Pharma, Inc. (NASDAQ:EVOK) Logo

Evoke Pharma, Inc. revealed 8-K form on Friday, May 17.

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On May 15, 2019, Evoke Pharma, Inc. (the ‘Company’) received a letter from the Nasdaq staff indicating that, for the last thirty consecutive business days, the bid price for the Company’s common stock had closed below the minimum $1.00 per share requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2).

The Company intends to monitor the bid price of its common stock and consider available options if its common stock does not trade at a level likely to result in the Company regaining compliance with Nasdaq’s minimum bid price rule by November 11, 2019.

If the Company does not regain compliance with Rule 5550(a)(2) by November 11, 2019, the Company may be eligible for an additional 180 calendar day compliance period. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and would need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. However, if it appears to the Nasdaq staff that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, the Nasdaq staff would notify the Company that its securities would be subject to delisting. In the event of such a notification, the Company may appeal the Nasdaq staff’s determination to delist its securities, but there can be no assurance the Nasdaq staff would grant the Company’s request for continued listing.

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.

The stock decreased 0.33% or $0.002 during the last trading session, reaching $0.598. About 152,153 shares traded. Evoke Pharma, Inc. (NASDAQ:EVOK) has declined 31.94% since May 18, 2018 and is downtrending. It has underperformed by 36.31% the S&P500.

Evoke Pharma, Inc., a specialty pharmaceutical company, primarily focuses on the development of drugs for the treatment of gastroenterological disorders and diseases. The company has market cap of $13.91 million. It is developing Gimoti, a metoclopramide nasal spray, which is in Phase 2b clinical trials for the relief of symptoms associated with acute and recurrent diabetic gastroparesis in women. It currently has negative earnings.

Investors sentiment decreased to 0.57 in Q4 2018. Its down 1.76, from 2.33 in 2018Q3. It is negative, as 6 investors sold Evoke Pharma, Inc. shares while 1 reduced holdings. 1 funds opened positions while 3 raised stakes. 3.12 million shares or 2.33% less from 3.19 million shares in 2018Q3 were reported.
Sphera Funds owns 1.41 million shares. Geode Capital Management Limited Liability Co has invested 0% in Evoke Pharma, Inc. (NASDAQ:EVOK). California Public Employees Retirement System owns 36,700 shares. Vanguard Gru Inc reported 0% of its portfolio in Evoke Pharma, Inc. (NASDAQ:EVOK). United Capital Fincl Advisers Ltd Limited Liability Company has invested 0% in Evoke Pharma, Inc. (NASDAQ:EVOK). 683 Capital Mngmt Ltd has 0.02% invested in Evoke Pharma, Inc. (NASDAQ:EVOK) for 114,300 shares. Northern Trust Corp reported 33,997 shares or 0% of all its holdings. Boothbay Fund Mgmt Limited Liability Corporation stated it has 0.02% of its portfolio in Evoke Pharma, Inc. (NASDAQ:EVOK). Blackrock Incorporated reported 83,583 shares. Morgan Stanley reported 15,559 shares. Moreover, Citigroup has 0% invested in Evoke Pharma, Inc. (NASDAQ:EVOK) for 500 shares. Creative Planning holds 100,000 shares. State Treasurer State Of Michigan holds 0.01% in Evoke Pharma, Inc. (NASDAQ:EVOK) or 400,000 shares. 19,129 were reported by Spark Investment Limited Liability Corp. Knoll Mngmt L P holds 0.78% or 275,000 shares.

More notable recent Evoke Pharma, Inc. (NASDAQ:EVOK) news were published by: Finance.Yahoo.com which released: “Investors Who Bought Evoke Pharma (NASDAQ:EVOK) Shares Five Years Ago Are Now Down 92% – Yahoo Finance” on April 29, 2019, also Nasdaq.com with their article: “Evoke Pharma (EVOK) to Post Q1 Earnings: What’s in Store? – Nasdaq” published on May 08, 2019, Benzinga.com published: “Daily Biotech Pulse: Further Delay in Roche’s Spark Acquisition, FDA Nod For Regeneron, Solid Biosciences Sinks On Earnings – Benzinga” on May 14, 2019. More interesting news about Evoke Pharma, Inc. (NASDAQ:EVOK) were released by: Globenewswire.com and their article: “Evoke Pharma Receives Preliminary FDA Communication on Gimotiâ„¢ NDA – GlobeNewswire” published on March 04, 2019 as well as Seekingalpha.com‘s news article titled: “Evoke Pharma receives CRL for Gimoti NDA; shares down 38% premarket – Seeking Alpha” with publication date: April 02, 2019.

Evoke Pharma, Inc. (NASDAQ:EVOK) Institutional Positions Chart

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