Evoke Pharma adds pharma veteran to its board

SOLANA BEACH, Calif. - Evoke Pharma, Inc. (NASDAQ:EVOK), a $10.48 million market cap company dedicated to treatments for gastrointestinal diseases, has announced the appointment of Greg Pyszczymuka to its Board of Directors, effective last Monday. The company, which has demonstrated impressive revenue growth of 100% over the last twelve months, is currently trading at $5.07 per share. The addition of Pyszczymuka, a seasoned commercial leader with a track record in pharmaceuticals, is a strategic move by Evoke as it aims to bolster its commercial strategy and growth potential, particularly for its GIMOTI® nasal spray.

Greg Pyszczymuka brings over two decades of experience in the pharmaceutical industry to Evoke’s board. Currently, he is the Chief Commercial Officer at Aytu BioPharma, where he has been instrumental in guiding the company to operational profitability and sustainable revenue growth. His commercial acumen, particularly in pharmaceutical sales, market access, and revenue growth, is expected to be a valuable asset to Evoke Pharma.

Evoke’s CEO, Matt D’Onofrio, expressed confidence in Pyszczymuka’s ability to contribute to the company’s growth trajectory, citing his alignment with Evoke’s commercial strategy and his proven success in financial performance. Pyszczymuka’s expertise is anticipated to play a key role in expanding access to GIMOTI® and enhancing shareholder value. According to InvestingPro analysis, the company is currently undervalued, with analysts projecting continued sales growth. For deeper insights into undervalued opportunities, visit our Most Undervalued Stocks list.

Pyszczymuka’s career spans senior roles at Neos Therapeutics (NASDAQ:NEOS), Aqua Pharmaceuticals, Iroko Pharmaceuticals, Zogenix (NASDAQ:ZGNX), and Endo Pharmaceuticals (OTC:ENDPQ). He holds a B.S. from Rutgers University and an M.B.A. from Argosy University.

In response to his appointment, Pyszczymuka expressed his honor at joining the board and his eagerness to leverage his experience to drive Evoke’s commercial success. He recognized the potential for GIMOTI® in the market and looks forward to contributing to the company’s growth.

Evoke Pharma specializes in developing drugs for GI disorders, with GIMOTI® being its flagship product for treating acute and recurrent diabetic gastroparesis in adults—a condition where the stomach takes too long to empty its contents. GIMOTI® is the only FDA-approved nasal spray formulation of metoclopramide, providing an alternative to oral and injectable forms. The company maintains an impressive gross profit margin of 96.55% and holds more cash than debt on its balance sheet. Discover more financial metrics and insights with InvestingPro, which offers 5 additional ProTips and comprehensive financial analysis for Evoke Pharma.

This appointment is part of Evoke’s ongoing efforts to strengthen its board and drive the company forward. The information regarding Pyszczymuka’s appointment and Evoke’s business endeavors is based on a press release statement from Evoke Pharma, Inc.

In other recent news, Evoke Pharma has appointed Greg Pyszcymuka as a Class I director to its Board of Directors. Pyszcymuka brings extensive experience in commercial operations within the pharmaceutical industry and joins the Compensation Committee and the Nominating and Corporate Governance Committee. In accordance with Evoke Pharma’s non-employee director compensation program, he received an option grant to purchase shares of the company’s common stock and will receive cash compensation for his board service. Meanwhile, Moody’s (NYSE:MCO) has downgraded the long-term corporate family rating and Probability of Default Rating of Evoke PLC from B1 to B2, citing continuous weak cash flow generation and high leverage. The company’s EBITDA for 2024 is expected to fall below previous estimates, and free cash flow remains under pressure due to restructuring charges. Despite revenue growth in the latter half of 2024, Moody’s highlights challenges in achieving a target leverage ratio of less than 3.5x by the end of 2026. The stable outlook from Moody’s reflects expectations of revenue growth and improved EBITDA margins, assuming no adverse regulatory changes.

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