10 Best Diabetes Stocks To Buy Under $10

8. Evoke Pharma, Inc. (NASDAQ:EVOK)

Share Price as of the Close of December 26: $4.89

Evoke Pharma, Inc. (NASDAQ:EVOK) specializes in treatments for gastrointestinal disorders, with a focus on diabetic gastroparesis. Its flagship product, GIMOTI, is the only FDA-approved nasal spray for this condition, offering reliable absorption by bypassing the digestive system—a critical benefit for patients with delayed gastric emptying.

Evoke Pharma, Inc. (NASDAQ:EVOK) reported record Q3 2024 financials with $2.7 million in net product sales, a 70% year-over-year increase, driven by strong demand for GIMOTI. Prescription fills grew 52% year-over-year and 39% since Q1 2024, while cumulative prescriber growth rose 45%. The company reduced its net loss to $1.3 million ($0.94 per share) from $1.7 million ($6.08 per share) in Q3 2023. With $11.3 million in cash as of September 30, 2024, Evoke Pharma, Inc. (NASDAQ:EVOK) has the financial stability to expand GIMOTI’s market presence through Q4 2025.

Evoke Pharma, Inc. (NASDAQ: EVOK) has made notable strides recently, highlighted by real-world data presented at ACG 2024 demonstrating GIMOTI’s effectiveness for GLP-1 therapy patients, positioning it as a strong alternative to oral metoclopramide. A Notice of Allowance from the USPTO further bolstered its intellectual property for GIMOTI. The company raised its 2024 revenue guidance to $9.5-10.0 million and secured $3.5 million in October through warrant exercises, extending its operational runway into Q4 2025 to support GIMOTI’s growth and explore new opportunities.

Evoke Pharma, Inc. (NASDAQ:EVOK)’s innovative approach to tackling diabetic gastroparesis, combined with its strong financial growth, makes it stand out as one of the best diabetes stocks. For investors seeking niche therapies that address critical, unmet needs in diabetes care, the company’s focus on solutions like GIMOTI offers both promise and potential for meaningful impact.