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Benzinga
Benzinga
Business
Henry Khederian

Evoke Pharma (EVOK) Shares Skyrocket On New Patent: What's Going On?

EVOK Evoke Pharma Pharma
Lab.Pharma.Pharmeuticals

Shares of Evoke Pharma Inc (NASDAQ:EVOK) are trading sharply higher Wednesday morning after the specialty pharmaceutical company announced it has received a Notice of Allowance from the U.S. Patent and Trademark Office for a new patent covering its lead product, GIMOTI.

What To Know: The nasal spray is a treatment for adults with moderate to severe symptoms of diabetic gastroparesis. The new patent, which is expected to expire in December 2036, will extend the market exclusivity for GIMOTI®, a non-oral formulation of metoclopramide.

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