Evoke Pharma amended a covenant associated with timing of phase 3 data results under its $4.5 million loan and security agreement with Pacific Western Bank (as successor to Square 1 Bank).

“Pacific Western Bank and Evoke have agreed to extend the deadline under the credit facility to September 30, 2016 to report Phase 3 data results. We expect our current funding to support our operations through October 2016 and past the reporting of Phase 3 data results,” said Dave Gonyer, Evoke president and CEO. “We are steadily advancing the clinical and regulatory development of EVK-001 and have begun preparing for potential commercialization in order to bring a much needed treatment option to market for the millions of women who suffer from diabetic gastroparesis.”

Evoke is a specialty pharmaceutical company focused primarily on the development of drugs to treat GI disorders and diseases.