Evoke Pharma Inc (NASDAQ:EVOK) saw its stock soar 50% after the specialty pharma company received a Notice of Allowance from the U.S. Patent and Trademark Office for its patent application covering GIMOTI, its treatment for gastroparesis.
The newly allowed patent application is a continuation of U.S. Patent No. 11,517,545 and strengthens Evoke’s intellectual property protection for its intranasal metoclopramide formulation. Once issued, the patent is expected to remain valid until December 2036. Evoke plans to include the patent in the FDA’s Orange Book, which would extend GIMOTI’s market exclusivity beyond its current patents.
“This new patent allowance adds meaningful value to the GIMOTI franchise by reinforcing protection around how and in whom the therapy is used,” said Matt D’Onofrio, CEO of Evoke Pharma. The company has also submitted another U.S. continuation application aimed at securing additional claims for this patient group.
GIMOTI stands as the only FDA-approved, non-oral, self-administered metoclopramide formulation designed to ease symptoms linked to acute and recurrent diabetic gastroparesis in adults. Its nasal spray delivery offers a crucial alternative for gastroparesis patients, as the condition often reduces the effectiveness of oral pills due to delayed gastric absorption.
Evoke also emphasized its support for Gastroparesis Awareness Month in August, underlining its dedication to advancing treatment options for those living with this chronic disorder.
This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.