A significant regulatory event led to a sharp increase in the share price of Evoke Pharma, Inc. (NASDAQ: EVOK). EVOK shares were up 162.78% at $6.99 as of the most recent market check. The dramatic increase comes after the business announced that the USPTO had granted it a Notice of Allowance for a new patent application that would cover the use of GIMOTI in patients with moderate to severe gastroparesis symptoms.
New Patent Expands Intellectual Property Estate
The authorized application greatly expands Evoke’s portfolio of intranasal metoclopramide-related intellectual property and is a continuation of U.S. Patent No. 11,517,545. The new patent is expected to be in effect until December 2036 when it is formally issued. Evoke Pharma also intends to register the patent in the FDA’s Orange Book, which is expected to extend GIMOTI’s market exclusivity beyond the term of current patents.
Enhancing Protection and Patient Reach
The GIMOTI brand views this development as a strategic step forward that strengthens both its target patient base and its mode of usage. For patients who suffer from delayed stomach emptying, which reduces the effectiveness of oral drugs, GIMOTI continues to show good potential as a non-oral option, according to Evoke. The business is still committed to broadening GIMOTI’s application and maximizing its medicinal advantages.
Dedication to Ongoing Awareness and Innovation
Evoke Pharma has filed a second continuation application to obtain expanded claims for therapies aimed at the same patient category, in keeping with its continuous innovation activities. Additionally, the organization is renewing its commitment to improve outcomes for individuals living with this chronic and frequently under-recognized illness by actively engaging in Gastroparesis Awareness Month this August.
GIMOTI is still the only self-administered, non-oral, FDA-approved formulation of metoclopramide that is recommended for the treatment of acute and recurring diabetic gastroparesis in adults. It provides a vital alternative in cases when oral therapies may not be effective.
