Evoke Pharma Inc (NASDAQ: EVOK) is making a run for the top in the market today after the company announced that it has submitted a response to an FDA request. Of course, the news excited investors who are pushing the stock up. Today,we’ll talk about:
- The response to the FDA;
- what we’re seeing from EVOK stock as a result; and
- what we’ll be watching for ahead.
EVOK Gains On Response To The FDA
As mentioned above, Evoke Pharma is having a great day in the market after announcing that it has submitted a response to the Untied States Food and Drug Administration. The announcement came by way of press release early this morning.
In the release, EVOK said that it has submitted its response to the FDA’s multi-disciplinary review (DR) letter. The company received the letter on March 1, 2019 surrounding the NDA for Gimoti.
In the release, the company also said that it has requested a meeting with the FDA prior to the PDUFA date for the drug. This action date is April 1, 2019. In the release, the company said that the meeting has been granted and will be held on March 21, 2019.
During the meeting, the company and the FDA will discuss feedback on the company’s response. In a statement, Dave Gonyer, President and CEO at EVOK, had the following to offer:
We look forward to meeting with FDA next week, ahead of the PDUFA target date to review the supplemental materials in our response and respond to any additional questions the Agency may have.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn when we dig in is that it’s important to follow the news. After all, the news moves the market.
When it comes to Evoke Pharma, the news proved to be overwhelmingly positive. After all, the update tells investors that the company is one step closer to the potential approval of Gimoti.
So, it’s not surprising to see that excited investors are pushing the stock on a run for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (12:00), EVOK is trading at $1.46 per share after a gain of $0.26 per share or 21.67% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on EVOK. In particular, we’re interested in following the story surrounding the company’s continued work to bring Gimoti to market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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