Why did EVOK's Q4 2024 earnings beat forecasts?

Evoke Pharma's (EVOK) Q4 2024 earnings exceeded forecasts due to significant revenue growth, primarily driven by the expansion of its prescriber base and an increase in prescription fill rates:

1. **Revenue Growth**: Evoke Pharma reported a 24.6% increase in Q4 revenue, reaching $3.3 million, compared to the previous quarter. For the full year, revenue surged by 97.8%, reaching $10.2 million, indicating a strong market acceptance and demand for their product.
2. **Prescriber Base Expansion**: The company expanded its prescriber base by 46%, reaching a total of 2,553 prescribers. This growth in the prescriber base directly contributes to increased product sales and market penetration.
3. **Prescription Fill Rates**: There was a 72% increase in prescription fill rates year-over-year, suggesting improved prescription fulfillment and patient adherence to the medication.
4. **Strategic Partnerships**: Evoke Pharma's transition to ASPN Pharmacies played a crucial role in these results, significantly improving prescription fulfillment rates and patient access.

These factors, combined with effective strategic initiatives, have contributed to Evoke Pharma's strong revenue growth and the ability to beat earnings forecasts.