Stoke Therapeutics ( (STOK) ) has released its Q3 earnings. Here is a breakdown of the information Stoke Therapeutics presented to its investors.
Stoke Therapeutics, Inc., a biotechnology company, is focused on restoring protein expression using RNA medicine, with its primary product being zorevunersen for Dravet syndrome. In its latest earnings report, Stoke Therapeutics shared financial results for the third quarter of 2024 and provided updates on its business operations. The company is progressing with its global Phase 3 study of zorevunersen and plans to release new data by the end of the year.
The financial results highlighted that as of September 30, 2024, Stoke Therapeutics had $269.2 million in cash, cash equivalents, and marketable securities. The company recognized $4.9 million in revenue from its collaboration with Acadia Pharmaceuticals, up from $3.3 million in the prior year. However, it reported a net loss of $26.4 million for the quarter, reflecting increased research and development expenses.
Stoke Therapeutics continues to focus on its zorevunersen program, announcing significant progress in regulatory discussions and the presentation of new data at upcoming conferences. The company is delaying the Phase 1 study of its other candidate, STK-002, to concentrate resources on its lead program.
Looking ahead, Stoke Therapeutics remains committed to advancing its zorevunersen program, with expectations to provide further updates on Phase 3 plans and present data at the American Epilepsy Society meeting. The management is optimistic about the potential of zorevunersen in addressing both seizures and cognitive issues related to Dravet syndrome.
