STOK · Stoke Therapeutics, Inc.

Stoke Therapeutics reported first quarter 2026 financial results, with revenue of $6.2 million, a significant decrease from $158.6 million in the same period last year. The prior year revenue included $150.8 million related to the IP license performance obligation under the Biogen agreement. Net loss for Q1 2026 was $50.0 million ($0.79 per share), compared to net income of $112.9 million ($1.90 per diluted share) in Q1 2025. Research and development expenses increased to $39.7 million from $32.7 million, driven by advancement of zorevunersen. Sales, general and administrative expenses rose to $20.0 million from $14.7 million due to personnel and launch readiness costs. The company ended the quarter with $411.0 million in cash, cash equivalents and marketable securities, including $80.7 million raised through ATM sales in Q1 2026, expected to fund operations into 2028. Key pipeline updates include new 4-year longitudinal data from the Phase 1/2a OLE studies showing statistically significant improvements in cognition and behavior, and durable seizure reductions. The Phase 3 EMPEROR study is on track to complete enrollment of approximately 150 patients in June 2026, with data readout in mid-2027 to support a rolling NDA submission planned for Q1 2027. Additionally, the Phase 1 OSPREY study of STK-002 for ADOA has dosed its first patient. Management emphasized the potential disease-modifying profile of zorevunersen and the strong financial position to support a potential U.S. launch in early 2028.