Stoke Therapeutics Launches a $125 Million Public Offering Following Promising Results for its Epilepsy Treatment

Stoke Therapeutics has announced the pricing for a $125 million public offering to support its drug development pipeline. The biotechnology firm, which focuses on RNA-based medicines, is offering over 5.5 million shares of common stock at $13.50 per share, with an option for underwriters to buy an additional 1.39 million shares within 30 days. The offering is expected to close by April 2, 2024.

The proceeds from this offering will be allocated to advancing Stoke's research and development activities, particularly for their Dravet syndrome candidate, STK-001, as well as for the preclinical development of their ophthalmology candidate, STK-002, and other pipeline projects.

This announcement follows the positive Phase I/IIa data for STK-001, which targets Dravet syndrome, a severe genetic epilepsy. The data revealed that patients on a 70-mg dose experienced a median reduction of 85% in convulsive seizures over three months, alongside existing anti-seizure treatments. Further, an open-label extension study showed continued seizure reduction and cognitive and behavioral improvements with 30 mg and 45 mg doses.

The FDA has approved a dosing regimen of three initial 70 mg doses followed by ongoing 45 mg doses. Stoke is planning to discuss a registrational study with the FDA, aiming to establish STK-001 as the first disease-modifying treatment for Dravet syndrome.

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