Evoke Pharma Inc (NASDAQ:EVOK) stock surged 50% after the specialty pharmaceutical company received a Notice of Allowance from the United States Patent and Trademark Office for a patent application covering its gastroparesis treatment GIMOTI.
The allowed application is a continuation of U.S. Patent No. 11,517,545 and expands Evoke’s intellectual property protection for intranasal metoclopramide. Upon issuance, the patent is expected to expire in December 2036, and the company plans to list it in the FDA’s Orange Book, extending market exclusivity for GIMOTI beyond existing patents.
GIMOTI is the only FDA-approved, non-oral, self-administered formulation of metoclopramide indicated for relief of symptoms associated with acute and recurrent diabetic gastroparesis in adults. The nasal spray delivery method provides an important alternative for patients with gastroparesis, as the condition can compromise the effectiveness of pills due to slowed gastric absorption.
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