Evoke stock rockets 90% on study of Gimoti in GLP-1 users
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Evoke Pharma (NASDAQ:EVOK) shares rocketed 90% early Monday on positive data for its nasal drug Gimoti in the treatment of stomach paralysis in diabetic patients using GLP-1 drugs.
The study compared healthcare resource utilization of patients using Gimoti, a nasal formulation of the drug metoclopramide, versus oral metoclopramide, specifically focusing on individuals who have used a GLP-1 medication, according to a statement.
The company noted that GLP-1 drugs have been associated with exacerbating stomach paralysis, also known as gastroparesis. The condition is also associated with diabetes.
Researchers presented the data at the American College of Gastroenterology 2024 Annual Meeting, which is being held Oct. 25-28 in Philadelphia.
Gimoti, a nasally administered formulation of metoclopramide, is approved for the treatment of diabetic gastroparesis. The drug is co-marketed with Eversana. Oral metoclopramide is available generically.
Eli Lilly (LLY) and Novo Nordisk (NVO) are currently the leading marketers of GLP-1 drugs for diabetes and weight loss.
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