Early Monday, shares of Evoke Pharma (EVOK, Financial) jumped 90% following encouraging results on its nasal medicine, Gimoti, for treating diabetic patients suffering gastroparesis, or stomach paralysis, using GLP-1 drugs.
Healthcare resource use among patients utilizing Gimoti, a nasal version of metoclopramide, and those using oral metoclopramide was compared in the study reported at the American College of Gastroenterology 2024 Annual Meeting. The study concentrated especially on patients who had taken GLP-1 drugs, since they are known to aggravate diabetes-related gastroparesis.
Approved to treat diabetic gastroparesis, Gimoti is co-marketed with Eversana. Evoke underlined that nasal delivery provides an alternative for patients with reduced stomach motility, therefore addressing a major problem for those who might have trouble absorbing oral drugs. Mostly sold by Eli Lilly (LLY) and Novo Nordisk (NVO), GLP-1 medications are extensively used to control weight loss and diabetes. Their link with worsening gastroparesis, however, emphasizes the need of alternative medicines like Gimoti, which seeks to relieve symptoms for this patient population. Promising study findings from Evoke Pharma have inspired hope about Gimoti's commercial potential as the company seeks to profit from the rising demand for non-oral therapy choices in diabetic gastroparesis.
