By Denny Jacob
Evoke Pharma shares rose 70% on Monday after presenting data on Gimoti in GLP-1 users.
Shares were trading around $9 in recent trading. The stock is down more than 28% on the year so far.
The specialty pharmaceutical company's study evaluated Gimoti, a metoclopramide nasal spray, in patients with diabetic gastroparesis who were concurrently using GLP-1 treatments.
GLP-1 drugs are used for both diabetes and obesity. Evoke noted an increasing number of reports of these drugs exacerbating gastrointestinal symptoms, specifically gastroparesis.
The study compared healthcare resource utilization between using Gimoti nasal metoclopramide and those on oral metoclopramide with a specific focus on those with a prior GLP-1 prescription.
Evoke said significant reductions across a collection of outcomes were observed in patients treated between the two treatments.
"This study, combined with the earlier real-world data presented at key conferences, reinforces Gimoti's potential to improve outcomes for patients and reduce the overall financial burden on the healthcare system," said Evoke Chief Executive Matt D'Onofrio.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
October 28, 2024 10:15 ET (14:15 GMT)
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