With cash run­ning low, lit­tle Evoke los­es a cru­cial PhI­II gam­ble

All San Diego-based Evoke Phar­ma want­ed to do was to come up with an ef­fec­tive, in­tranasal spray for­mu­la­tion of meto­clo­pramide that could be used to treat di­a­bet­ic gas­tro­pare­sis in women. Af­ter all, it had proven ac­tive in a mid-stage study and the drug is com­mon­ly used to treat a va­ri­ety of stom­ach-re­lat­ed ail­ments.

How hard could it be?

Plen­ty, as it turned out, as the com­pa­ny to­day ac­knowl­edged that their drug failed a Phase III study, demon­strat­ing once again that the best ef­forts to de-risk a pro­gram can of­ten go awry. Evoke’s shares $EVOK crashed on the news, plung­ing 75%.

Endpoints News

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.