Stoke Therapeutics Stock Rockets On Phase 1/2a Data: Here's Why

Stoke Therapeutics, Inc. STOK reported its fourth-quarter financial results and announced Phase 1/2a end of study data after the bell on Monday. Here's a look at the highlights. 

The Details: The company reported quarterly losses of 60 cents per share which beat the analyst consensus estimate of 63 cents per share by 4.76%.

Quarterly sales came in at $2.8 million which missed the analyst consensus estimate of $3.25 million by 13.82% and is a 14.32% decrease over sales of $3.27 million from the same period last year.

Stoke Therapeutics announced new data from two open-label Phase 1/2a studies and two open-label extension studies of children and adolescents ages 2 to 18 with Dravet syndrome who were treated with STK-001.

Data from these studies showed clinically meaningful effects, including substantial and durable reductions in convulsive seizure frequency and improvements in multiple measures of cognition and behavior that support the potential for disease modification.

The company also announced clearance from the U.S. Food and Drug Administration (FDA) that allows patients to receive three doses of 70mg of STK-001 followed by continued dosing at 45mg.

“The totality of these data provide compelling evidence that support the potential for STK-001 to be a disease-modifying medicine for patients with Dravet syndrome by treating the underlying cause of the disease, rather than just the symptoms,” said Edward M. Kaye, M.D., CEO of Stoke Therapeutics.

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STOK Price Action: According to Benzinga Pro, Stoke Therapeutics shares are up 71.08% after-hours at $11.12 at the time of publication Monday.

Photo: Pete Linforth from Pixabay