Evoke Pharma Rockets On Grabbing 140% Premium In Acquisition Deal

Evoke Pharma, Inc. (NASDAQ:EVOK) shares are surging on Tuesday after the company announced it has entered into a deal to be acquired by QOL Medical for $11 per share in cash via a tender offer.

Details

The purchase price offers a 139.7% premium to Evoke's November 3, 2025, closing share price.

The transaction was unanimously approved by the boards of both companies and is expected to close by the end of 2025.

As per the deal, QOL Medical, via a subsidiary, will launch a tender offer to acquire all outstanding Evoke shares at $11.00 per share in cash.

Following a successful tender, QOL's subsidiary will merge into Evoke, and any remaining Evoke shares will be converted to the same cash price.

The deal is fully cash-financed, not contingent on external funding, and is expected to close in the fourth quarter of 2025.

The transaction highlights the strategic value of GIMOTI, which is the first and only FDA-approved nasal spray for adult diabetic gastroparesis.

Management Commentary

“Evoke has developed an innovative therapy that addresses a significant unmet need in gastrointestinal care, offering meaningful clinical benefits for patients.

”GIMOTI strengthens our GI portfolio and advances our mission to support patients living with rare and underserved gastrointestinal conditions,” Derick Cooper, CEO of QOL Medical said.

“It enables us to build on our existing infrastructure, expand our reach among patients and healthcare providers, and further establish QOL Medical as a leader in specialty gastrointestinal care.”

Recent Key Events

In August, Evoke Pharma partnered with EVERSANA and Omnicell to expand patient access to GIMOTI in major gastroenterology organizations.

Price Action: EVOK shares are up 134.86% at $10.78 at the last check on Tuesday.

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