Evoke Pharma Raises $25M In IPO, But Sees Price Drop After Debut

San Diego-based Evoke Pharma, a biopharmaceuticals firm focused on gastrointestinal disease, raised $25M in an IPO this morning, but is trading down from its IPO debut. The company, which is now trading as EVOK on the Nasdaq Global Market, debuted at $12 per share this morning, and was recently trading around $11.13. Evoke was venture backed by Domain Associates, Latterell Venture Partners, and Windamere Venture Partners. The company sold 2.1 millon shares of its stock last night at the low end of its estimated offering range.