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Investing.com -- Evoke Pharma, Inc. (NASDAQ:EVOK) stock surged 19% Thursday after the company announced that a new patent for its GIMOTI nasal spray has been listed in the FDA’s Orange Book.
The specialty pharmaceutical company, which focuses on gastrointestinal diseases, reported that U.S. Patent No. 12,377,064 covering the use of GIMOTI (metoclopramide) nasal spray in patients with moderate to severe symptoms of gastroparesis has been added to the FDA’s Approved Drug Products with Therapeutic Equivalence Evaluations.
The newly listed patent has an expected expiration date of November 17, 2038, extending the protection period by approximately eight years beyond the company’s previous last-to-expire Orange Book listed patent, which was set to expire on May 15, 2030.
"We believe the listed patent shows our commitment to developing innovative products that expand options for patients and providers, while also protecting our hard work and investment in innovation," said Matt D’Onofrio, Chief Executive Officer of Evoke Pharma.
The company indicated that this patent reinforces its long-term strategy to maximize GIMOTI’s commercial life and support continued access for patients requiring a non-oral treatment for diabetic gastroparesis, while protecting its investment in innovation.
GIMOTI is a nasal spray formulation of metoclopramide designed for patients who suffer from gastroparesis, a condition that delays stomach emptying and can cause nausea, vomiting, and abdominal pain.
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