Evoke Pharma Announces Full Exercise of Underwriters' Over-Allotment Option

SAN DIEGO, Oct. 3, 2013 (GLOBE NEWSWIRE) -- Evoke Pharma, Inc. (Nasdaq:EVOK), a specialty pharmaceutical company focused on treatments for gastrointestinal (GI) diseases, today announced the full exercise of the over-allotment option granted to the representative of the underwriters to purchase an additional 315,000 shares of its common stock, at a price to the public of $12.00 per share. The over-allotment option was granted in connection with the Company's previously announced underwritten initial public offering of 2,100,000 shares of common stock. The exercise brings the expected total gross proceeds from the offering to $28,980,000, before underwriting discounts and commissions and estimated offering expenses.

The sale of additional shares is expected to close on October 8, 2013, subject to customary closing conditions.

Aegis Capital Corp. acted as sole book-running manager for the offering.

Cantor Fitzgerald & Co. and Feltl and Company, Inc. acted as co-managers for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on September 24, 2013. 

This offering was made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained by contacting Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY 10019, telephone: 212-813-1010, e-mail: prospectus@aegiscap.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Evoke Pharma, Inc.

Evoke Pharma is a specialty pharmaceutical company focused primarily on the development of drugs to treat GI disorders and diseases. The Company is developing EVK-001, a metoclopramide nasal spray for the relief of symptoms associated with acute and recurrent diabetic gastroparesis in women with diabetes mellitus. Diabetic gastroparesis is a GI disorder afflicting millions of sufferers worldwide, in which the stomach takes too long to empty its contents resulting in serious digestive system symptoms. Metoclopramide is the only product currently approved in the United States to treat gastroparesis, and is currently available only in oral and intravenous forms. EVK-001 is a novel formulation of this drug, designed to provide systemic delivery of metoclopramide through intranasal administration.

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