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Stoke Therapeutics(STOK) - 2025 Q1 - Quarterly Results
STOKStoke Therapeutics(STOK)2025-05-13 11:05

Financial Performance - Revenue recognized from the License and Collaboration Agreement with Biogen for the three months ended March 31, 2025 was 152.4million,comparedtonorevenueforthesameperiodin2024[7]−NetincomeforthethreemonthsendedMarch31,2025was152.4 million, compared to no revenue for the same period in 2024[7] - Net income for the three months ended March 31, 2025 was 112.9 million, or 1.90perdilutedshare,comparedtoanetlossof1.90 per diluted share, compared to a net loss of 26.4 million, or 0.57pershareforthesameperiodin2024[7]−Totalrevenueforthefirstquarterof2025was0.57 per share for the same period in 2024[7] - Total revenue for the first quarter of 2025 was 158.6 million, compared to 4.2millionforthesameperiodin2024[16]Expenses−ResearchanddevelopmentexpensesforthethreemonthsendedMarch31,2025were4.2 million for the same period in 2024[16] Expenses - Research and development expenses for the three months ended March 31, 2025 were 32.7 million, compared to 22.4millionforthesameperiodin2024,includingaone−time22.4 million for the same period in 2024, including a one-time 8.2 million sublicense fee associated with the Biogen agreement[7] - General and administrative expenses for the three months ended March 31, 2025 were 14.7million,comparedto14.7 million, compared to 10.2 million for the same period in 2024[7] Cash Position - As of March 31, 2025, the company had 380.3millionincash,cashequivalents,andmarketablesecurities,expectedtofundoperationsbeyondthesecondhalfof2027andintolaunchreadinessprojectedformid−2028[1]CollaborationwithBiogen−ThecollaborationwithBiogenincludesanupfrontpaymentof380.3 million in cash, cash equivalents, and marketable securities, expected to fund operations beyond the second half of 2027 and into launch readiness projected for mid-2028[1] Collaboration with Biogen - The collaboration with Biogen includes an upfront payment of 165 million, with potential milestone payments of up to $385 million and tiered royalties on net sales[3] - The company retains exclusive rights for zorevunersen in the United States, Canada, and Mexico, while Biogen has exclusive commercialization rights for the rest of the world[3] Clinical Trials - The company plans to initiate the Phase 3 EMPEROR study in the second quarter of 2025, with an expected data readout in the second half of 2027[3] - The Phase 3 study will evaluate two loading doses of 70mg followed by two maintenance doses of 45mg over 52 weeks in children and adolescents with Dravet syndrome[4]