Evoke Pharma announces 1-for-12 reverse stock split

Evoke Pharma announced that its board of directors has approved a 1-for-12 reverse stock split of the company’s common stock. The reverse stock split will become effective at 12:01 a.m. Eastern time on August 1, 2024. The company’s common stock is expected to begin trading on a split-adjusted basis on The Nasdaq Capital Market under the same symbol when the market opens on August 1, 2024 with the new CUSIP number 30049G302. The reverse stock split is primarily intended to bring the company into compliance with Nasdaq’s minimum bid price requirement. To regain compliance, the bid price of the company’s common stock must close at $1.00 per share or more for a minimum of ten consecutive business days.