Texas adds Evoke Pharma's nasal spray to Medicaid drug list; shares jump

Evoke Pharma

19/04/2022 14:27

** Drug developer's shares  EVOK.O  rise 10.3% to $0.41
premarket 
    ** Co says Gimoti, its nasal spray product to treat symptoms
associated with diabetic gastroparesis, has been added to the
Texas Medicaid Preferred Drug List, effective April 12
 urn:newsml:reuters.com:*:nGNX5bMq14
    ** The decision supports reimbursement for Gimoti on the
Texas Medicaid formulary and associated programs and will be
available for those people that fail treatment with any
preferred drug class - EVOK
    ** Diabetic gastroparesis is a disorder in which the stomach
takes too long to empty its contents resulting in serious
gastrointestinal symptoms as well as other complications
    ** Gimoti was approved by U.S. FDA in June 2020
    ** As of last close, the stock had fallen by 30.4% YTD

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))