Evoke Receives U.S. Patent Allowance For GIMOTI, Extending Exclusivity By An Additional 6 Years

(RTTNews) - Shares of Evoke Pharma Inc. (EVOK) surged more than 270% to $9.88 in early trading today, on receipt of a Notice of Allowance for U.S. patent application for GIMOTI, which extends the Orange Book listings by an additional 6 years.

GIMOTI is the only FDA-approved, non-oral, self-administered formulation of metoclopramide and is indicated for the relief of symptoms associated with acute and recurrent diabetic gastroparesis in adults. The drug was approved in June 2020.

Upon issuance, the patent will be expected to expire in December 2036, and the company intends to list the patent in the FDA's Orange Book, extending market exclusivity for GIMOTI beyond other existing patents.

The drug generated net product sales of approximately $3.1 million in the first quarter of 2025 compared to $1.7 million during the first quarter of 2024.

For the full year of 2025, the company expects net product sales of approximately $16 million, reflecting a 60% increase over 2024.

EVOK has traded in a range of $1.94 to $12.32 in the last 1 year. As of this writing, the stock is at $6.88, up 157%.