U.S. Patent And Trademark Office Grants Another Formulation Patent Covering GIMOTI
Portfolio Pulse from Benzinga Newsdesk
Evoke Pharma, Inc. (NASDAQ:EVOK) announced the issuance of U.S. Patent No. 11,813,231 by the USPTO for 'Nasal Formulations of Metoclopramide', covering their FDA-approved nasal spray GIMOTI. This patent strengthens Evoke's intellectual property rights and supports the commercial value of GIMOTI, especially as GLP-1 agonist medications for diabetes reveal more cases of gastroparesis. GIMOTI is unique as a non-oral treatment for diabetic gastroparesis, a condition that affects the absorption of oral medications.
November 14, 2023 | 1:53 pm
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POSITIVE IMPACT
Evoke Pharma receives a new US patent for GIMOTI, potentially increasing its market exclusivity and commercial success in treating diabetic gastroparesis.
The granting of a new patent typically strengthens a company's competitive position by enhancing its intellectual property portfolio. For Evoke Pharma, this new patent for GIMOTI could lead to increased market exclusivity, potentially preventing competitors from entering the market with similar products. This could result in a positive short-term impact on EVOK's stock price as investors may view this as a reinforcement of the company's market position and future revenue potential.
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