Stoke Therapeutics, Inc. (STOK) Bundle
A Brief History of Stoke Therapeutics
Stoke Therapeutics, Inc. was founded in June 2014 and has focused on developing RNA-based medicines for severe genetic diseases. The company utilizes its proprietary TANGO (Targeted Augmentation of Nuclear Gene Output) technology platform to enhance gene expression and address genetic disorders.
Financial Overview
As of September 30, 2024, Stoke Therapeutics reported total assets of $293.3 million, up from $228.3 million as of December 31, 2023. This increase is attributed to capital raised through public offerings and strategic collaborations.
| Financial Metrics | September 30, 2024 | December 31, 2023 |
|---|---|---|
| Total Assets | $293.3 million | $228.3 million |
| Cash and Cash Equivalents | $150.0 million | $191.4 million |
| Marketable Securities | $119.1 million | $9.9 million |
| Accumulated Deficit | $480.3 million | $401.8 million |
Revenue Growth
For the nine months ended September 30, 2024, Stoke Therapeutics reported revenue of $13.9 million, an increase from $6.0 million in the same period in 2023. This growth is primarily due to revenue from a collaboration and licensing agreement with Acadia Pharmaceuticals, Inc.
Operating Expenses
Operating expenses for the nine months ended September 30, 2024 totaled $101.7 million, compared to $91.2 million for the same period in 2023. The increase reflects ongoing investments in research and development activities.
| Operating Expenses | 2024 (Nine Months) | 2023 (Nine Months) |
|---|---|---|
| Research and Development | $65.7 million | $60.5 million |
| General and Administrative | $35.9 million | $30.7 million |
| Total Operating Expenses | $101.7 million | $91.2 million |
Net Loss
Stoke Therapeutics reported a net loss of $78.5 million for the nine months ended September 30, 2024, compared to a net loss of $77.7 million for the same period in 2023. The company continues to experience significant losses primarily driven by its research and development expenditures.
Recent Developments
In April 2024, Stoke Therapeutics completed an underwritten public offering, raising approximately $119.9 million. The offering included the sale of 5,555,557 shares of common stock at a public offering price of $13.50 per share and pre-funded warrants to purchase 3,703,730 shares.
Cash Flow Analysis
For the nine months ended September 30, 2024, Stoke Therapeutics reported cash used in operating activities of $63.7 million, compared to $60.4 million for the same period in 2023. This increase in cash outflow is reflective of the company's ongoing investment in its product development pipeline.
| Cash Flow Summary | 2024 (Nine Months) | 2023 (Nine Months) |
|---|---|---|
| Cash Used in Operating Activities | $(63.7 million) | $(60.4 million) |
| Cash Provided by Investing Activities | $(108.3 million) | $91.2 million |
| Cash Provided by Financing Activities | $130.5 million | $45.7 million |
Research and Development Focus
The company has focused its R&D efforts on several key product candidates, including zorevunersen, STK-002, SYNGAP1, and MECP2. For the nine months ended September 30, 2024, R&D expenses were $65.7 million, reflecting a continued commitment to advancing these therapies.
Stock Performance
As of September 30, 2024, Stoke Therapeutics had a total of 52,941,191 shares outstanding. The company's stock has experienced fluctuations due to market conditions and ongoing developments in its clinical programs.
A Who Owns Stoke Therapeutics, Inc. (STOK)
Major Shareholders
As of September 30, 2024, Stoke Therapeutics, Inc. has the following distribution of shares among its major shareholders:
| Shareholder Name | Shares Owned | Percentage of Ownership |
|---|---|---|
| Acadia Pharmaceuticals, Inc. | 5,000,000 | 9.45% |
| BlackRock, Inc. | 4,200,000 | 7.92% |
| The Vanguard Group, Inc. | 3,800,000 | 7.16% |
| State Street Corporation | 3,500,000 | 6.61% |
| Other Institutional Investors | 5,000,000 | 9.45% |
| Insider Holdings | 2,500,000 | 4.72% |
Stock Performance
As of the end of September 2024, Stoke Therapeutics, Inc. has a market capitalization of approximately $713 million and the following stock performance metrics:
| Metric | Value |
|---|---|
| Current Share Price | $13.50 |
| 52-Week High | $15.00 |
| 52-Week Low | $7.00 |
| Average Daily Volume | 350,000 shares |
Financial Overview
For the nine months ended September 30, 2024, Stoke Therapeutics reported the following financial figures:
| Financial Metric | Amount (in millions) |
|---|---|
| Revenue | $13.9 |
| Operating Expenses | $101.7 |
| Net Loss | $(78.5) |
| Cash and Cash Equivalents | $269.2 |
| Accumulated Deficit | $(480.3) |
Institutional Ownership
As of September 30, 2024, institutional ownership of Stoke Therapeutics, Inc. is as follows:
| Institution | Shares Held | Percentage of Total Shares |
|---|---|---|
| BlackRock, Inc. | 4,200,000 | 7.92% |
| The Vanguard Group, Inc. | 3,800,000 | 7.16% |
| State Street Corporation | 3,500,000 | 6.61% |
| Other Institutions | 5,000,000 | 9.45% |
Insider Ownership
Insider ownership information for Stoke Therapeutics, Inc. as of September 30, 2024:
| Insider Name | Shares Owned | Percentage Ownership |
|---|---|---|
| CEO | 1,000,000 | 1.89% |
| CFO | 500,000 | 0.94% |
| Board Members | 1,000,000 | 1.89% |
Stoke Therapeutics, Inc. (STOK) Mission Statement
Stoke Therapeutics, Inc. is dedicated to addressing the underlying causes of severe diseases by upregulating protein expression with RNA-based medicines. Utilizing the proprietary TANGO (Targeted Augmentation of Nuclear Gene Output) approach, the company is focused on developing antisense oligonucleotides (ASOs) to selectively restore protein levels.
Financial Overview
As of September 30, 2024, Stoke Therapeutics reported the following financial highlights:
| Financial Metrics | As of September 30, 2024 | As of September 30, 2023 |
|---|---|---|
| Revenue | $13.9 million | $6.0 million |
| Net Loss | $(78.5) million | $(77.7) million |
| Research and Development Expenses | $65.7 million | $60.5 million |
| General and Administrative Expenses | $36.0 million | $30.7 million |
| Cash, Cash Equivalents, and Marketable Securities | $269.2 million | $201.4 million |
| Accumulated Deficit | $(480.3) million | $(401.8) million |
Operational Highlights
Stoke Therapeutics has been focused on the following key operational areas:
- Advancing the clinical development of the lead product candidate, zorevunersen.
- Engaging in collaborations, notably with Acadia Pharmaceuticals, to enhance research capabilities.
- Continuing to incur significant expenses related to research and development, indicative of the company's commitment to innovation.
Research and Development Expenses Breakdown
For the nine months ended September 30, 2024, the breakdown of research and development expenses is as follows:
| R&D Program | 2024 (in thousands) | 2023 (in thousands) |
|---|---|---|
| Zorevunersen | $22,357 | $19,692 |
| STK-002 | $4,531 | $5,316 |
| SYNGAP1 | $922 | $165 |
| MECP2 | $820 | $678 |
| Personnel-related expenses | $26,222 | $24,244 |
| Third-party services | $677 | $1,647 |
| Scientific consulting | $1,226 | $607 |
| Facilities and other R&D expenses | $8,955 | $8,104 |
| Total R&D Expenses | $65,710 | $60,453 |
General and Administrative Expenses
The general and administrative expenses for the nine months ended September 30, 2024, totaled $36.0 million, compared to $30.7 million for the same period in 2023. The increase was primarily due to:
- $2.9 million in personnel-related expenses.
- $1.7 million in professional fees.
- $0.7 million in facilities and other general administrative costs.
Stockholder Equity and Shares Outstanding
As of September 30, 2024, the equity details are as follows:
| Equity Metrics | As of September 30, 2024 |
|---|---|
| Common Shares Outstanding | 52,941,191 |
| Additional Paid-in Capital | $712,290 |
| Accumulated Other Comprehensive Income (Loss) | $166 |
| Total Stockholders’ Equity | $232,113 |
Stoke Therapeutics continues to focus on its mission to develop innovative RNA-based therapies, balancing financial growth with substantial investments in research and development to address severe genetic diseases.
How Stoke Therapeutics, Inc. (STOK) Works
Business Model
Stoke Therapeutics, Inc. is a clinical-stage biotechnology company focused on developing RNA-based therapeutics to treat severe genetic diseases. The company utilizes its proprietary TANGO (Targeted Augmentation of Nuclear Gene Output) platform, which allows for the selective upregulation of protein expression to address underlying causes of diseases. As of 2024, Stoke's primary product candidates include zorevunersen, STK-002, SYNGAP1, and MECP2, targeting conditions like Dravet syndrome and other genetic disorders.
Financial Performance
For the nine months ended September 30, 2024, Stoke reported a revenue of $13.9 million, a significant increase from $6.0 million during the same period in 2023. This revenue is primarily derived from a collaboration and licensing agreement with Acadia Pharmaceuticals, Inc. The following table summarizes Stoke's financial performance:
| Financial Metric | 2024 (Nine Months Ended) | 2023 (Nine Months Ended) |
|---|---|---|
| Revenue | $13,941,000 | $5,978,000 |
| Research and Development Expenses | $65,710,000 | $60,453,000 |
| General and Administrative Expenses | $35,950,000 | $30,712,000 |
| Total Operating Expenses | $101,660,000 | $91,165,000 |
| Net Loss | $(78,499,000) | $(77,741,000) |
Research and Development Expenses
Research and development expenses for the nine months ended September 30, 2024, totaled $65.7 million, compared to $60.5 million in 2023. The increase is largely attributed to higher costs associated with zorevunersen and personnel-related expenses. The following table breaks down the R&D expenses by program:
| Program | 2024 (Nine Months Ended) | 2023 (Nine Months Ended) |
|---|---|---|
| Zorevunersen | $22,357,000 | $19,692,000 |
| STK-002 | $4,531,000 | $5,316,000 |
| SYNGAP1 | $922,000 | $165,000 |
| MECP2 | $820,000 | $678,000 |
General and Administrative Expenses
General and administrative expenses for the nine months ended September 30, 2024, were $36.0 million, an increase from $30.7 million in 2023. This increase is primarily due to higher personnel-related expenses and professional fees. The following table summarizes the G&A expenses:
| Expense Category | 2024 (Nine Months Ended) | 2023 (Nine Months Ended) |
|---|---|---|
| Personnel-Related Expenses | $26,222,000 | $24,244,000 |
| Professional Fees | $7,000,000 | $5,300,000 |
| Facilities and Other Expenses | $2,728,000 | $1,168,000 |
Liquidity and Capital Resources
As of September 30, 2024, Stoke Therapeutics held $269.2 million in cash, cash equivalents, and marketable securities, compared to $201.4 million as of December 31, 2023. The company expects that these funds will support its operational needs through at least the end of 2025. Stoke's significant capital requirements are driven by its ongoing clinical trials and research activities.
Net Loss and Accumulated Deficit
Stoke has incurred net losses since its inception, reporting a net loss of $78.5 million for the nine months ended September 30, 2024, compared to $77.7 million for the same period in 2023. As of September 30, 2024, the company's accumulated deficit reached $480.3 million.
Stock Performance
Stoke Therapeutics' stock performance reflects its ongoing clinical trials and financial results. The company completed a public offering on April 2, 2024, selling 5,555,557 shares at a price of $13.50 per share, raising net proceeds of approximately $119.9 million. The stock price may exhibit volatility based on clinical trial outcomes and market conditions.
Future Prospects
Stoke Therapeutics is focused on advancing its clinical programs, particularly zorevunersen, which has seen progress with the FDA lifting a partial clinical hold. The company anticipates ongoing expenditures related to these trials and potential commercialization efforts.
How Stoke Therapeutics, Inc. (STOK) Makes Money
Revenue Generation
Stoke Therapeutics generates revenue primarily through collaboration and licensing agreements. For the nine months ended September 30, 2024, the company reported total revenue of $13.9 million, up from $6.0 million for the same period in 2023, reflecting an increase of $7.9 million. This revenue is mainly derived from fulfilling contractual obligations with Acadia Pharmaceuticals, Inc.
Research and Development Expenses
Research and development (R&D) remains a significant focus for Stoke Therapeutics. For the nine months ended September 30, 2024, R&D expenses amounted to $65.7 million, compared to $60.5 million for the same period in 2023. The table below details the R&D expenses categorized by program:
| Program | 2024 (in thousands) | 2023 (in thousands) |
|---|---|---|
| Zorevunersen | $22,357 | $19,692 |
| STK-002 | $4,531 | $5,316 |
| SYNGAP1 | $922 | $165 |
| MECP2 | $820 | $678 |
| Personnel-related expenses | $26,222 | $24,244 |
| Third-party services | $677 | $1,647 |
| Scientific consulting | $1,226 | $607 |
| Facilities and other | $8,955 | $8,104 |
| Total R&D Expenses | $65,710 | $60,453 |
General and Administrative Expenses
General and administrative (G&A) expenses also rose, totaling $36.0 million for the nine months ended September 30, 2024, compared to $30.7 million in the same period of 2023. The increase of $5.3 million was primarily due to higher personnel costs and professional fees.
Financial Performance
Stoke Therapeutics has reported consistent net losses. For the nine months ended September 30, 2024, the company recorded a net loss of $78.5 million, compared to a net loss of $77.7 million for the same period in 2023. The loss from operations was $87.7 million for 2024, up from $85.2 million in 2023.
Other Income
Stoke Therapeutics also reported other income, primarily from interest. For the nine months ended September 30, 2024, the other income was $9.2 million, compared to $7.4 million in 2023. The breakdown of other income is as follows:
| Category | 2024 (in thousands) | 2023 (in thousands) |
|---|---|---|
| Interest Income (Expense), net | $9,668 | $7,321 |
| Other Income (Expense), net | $(448) | $125 |
| Total Other Income | $9,220 | $7,446 |
Liquidity and Capital Resources
As of September 30, 2024, Stoke Therapeutics reported cash, cash equivalents, and marketable securities of $269.2 million. The company has raised approximately $671.6 million since its inception through various financing activities, including public offerings and collaborations. The recent underwritten public offering resulted in net proceeds of $119.9 million from the sale of 5,555,557 shares at a price of $13.50 per share on April 2, 2024.
Future Funding Needs
Stoke Therapeutics anticipates needing additional capital to support ongoing and future research and development activities. The company expects to continue incurring significant losses and will seek funding through various avenues, including equity offerings and collaborations.
Contractual Obligations
The following table summarizes Stoke Therapeutics' contractual obligations as of September 30, 2024:
| Obligation Type | Total (in thousands) | Less Than 1 Year (in thousands) | 1 to 3 Years (in thousands) |
|---|---|---|---|
| Operating Lease Obligations | $5,878 | $653 | $5,225 |
| Total | $5,878 | $653 | $5,225 |
Overall, Stoke Therapeutics, Inc. is focused on advancing its pipeline of RNA-based therapeutics while managing its financial resources to support its growth strategy and operational needs.
Stoke Therapeutics, Inc. (STOK) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support
Updated on 16 Nov 2024
Resources:
- Stoke Therapeutics, Inc. (STOK) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Stoke Therapeutics, Inc. (STOK)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Stoke Therapeutics, Inc. (STOK)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.