Published July 18, 2016 8:49am EDT | Updated July 18, 2016 9:04am EDT

Evoke Pharma Stock Drops 76% After Drug's Late-stage Topline Results Miss Primary Endpoint

Evoke Pharma Inc. shares plummeted 75.8% in pre-market trade Monday after the company's diabetic gastroparesis drug for female patients missed its primary endpoint in phase 3 topline results. The company's president and CEO Dave Gonyer called the results for the drug, EVK-001, "unexpected and an anomaly" and said they continue to believe the drug is a promising treatment option. Evoke shares more than doubled over the last three months, compared with a 3.2% rise in the S&P 500 .