EVOK - Evoke jumps on approval for nasal spray Gimoti being added to Florida's Medicaid program

Shares of micro-cap company Evoke Pharma (NASDAQ:EVOK) soared ~70% to $3.45 in Wednesday premarket trading, after it said it had got approval for its Gimoti nasal spray treatment for diabetic gastroparesis to be added to the Florida Medicaid Preferred Drug List (PDL), effective immediately. Gastroparesis is a condition that affects the stomach muscles and prevents the stomach from emptying properly. Diabetic gastroparesis is the same condition brought on due to diabetes. EVOK said the Florida Medicaid program provides healthcare plans to about 5M people. “We view this addition to the Florida Medicaid PDL as a win for patient access to this important medicine for diabetic gastroparesis patients, who have very limited options to obtain symptomatic relief," said EVOK chief business officer Matt D’Onofrio in a statement.

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Evoke jumps on approval for nasal spray Gimoti being added to Florida's Medicaid program