Thinly traded nano cap Evoke Pharma (NASDAQ:EVOK) perks up 10% premarket on modestly higher volume on the heels of its agreement with
life sciences commercial services provider Eversana for the
commercialization and distribution of Gimoti (metoclopramide) nasal
spray in the U.S.
Under the terms of the deal, EVOK will reimburse
Eversana for certain costs and a percentage of profits (mid-to-high
teens) after Gimoti sales surpass a certain level. Eversana has also
agreed to provide a credit revolver to EVOK up to $5M.
Its marketing application for adult women with
acute or recurrent diabetic gastroparesis is currently under FDA review
with an action date of June 19.
EVOK and Novos Growth Partners have mutually agreed to terminate their commercialization agreement inked a year ago.
https://seekingalpha.com/news/3533947-evoke-pharma-up-10-premarket-on-gimoti-deal-in-u-s
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