By Josh Beckerman
Evoke Pharma shares surged after the company received a notice of allowance for a U.S. patent application for Gimoti extending Orange Book listings to 2036.
The stock was up 154% to $6.75 Wednesday, with an intraday high of $9.88. The stock is up over 50% this year. Volume was roughly 124 million shares as of early-afternoon trading, compared with a 90-day average of about 19,000.
Gimoti is a nasal spray for relief of symptoms associated with acute and recurrent diabetic gastroparesis.
Evoke said the allowed application is a continuation of U.S. Patent No. 11,517,545, and that it further expands Evoke's intellectual property estate around intranasal metoclopramide. The company said it has filed another U.S. continuation application to pursue additional claims.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
July 09, 2025 13:46 ET (17:46 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.