Stoke Therapeutics(NASDAQ) STOK

Stoke Therapeutics helps people with rare genetic diseases. It makes medicines that fix how the body produces proteins. These treatments help children with severe epilepsy and vision loss.

Restoring the Body's Natural Balance

• Zorevunersen (STK-001): Experimental medicine for Dravet syndrome, a severe type of childhood epilepsy; aims to reduce seizures by raising specific protein levels in the brain.
• STK-002: Clinical-stage treatment for a rare eye condition called autosomal dominant optic atrophy; works to prevent or slow vision loss by supporting nerve health.
• TANGO Platform: Proprietary technology used to design RNA-based medicines; targets the underlying cause of genetic disorders by increasing protein output from healthy genes.

Charting a Path Forward

• Entered a major collaboration with Biogen in February 2025 to develop and sell zorevunersen in international markets.
• Received a $165 million upfront payment from Biogen to fund global research and clinical trials.
• Initiated the global Phase 3 EMPEROR study for zorevunersen in May 2025 to support future government approval.
• Maintained a partnership with Acadia Pharmaceuticals for neurodevelopmental diseases while regaining full rights to two research programs in September 2025.

What Makes Stoke Unique

The company uses its TANGO technology to treat diseases without altering a patient's DNA. This approach allows scientists to control the dose and timing of protein production to improve safety and efficacy.

The Numbers Behind the Science

• Revenue was $1.4 million in Q4 2025, down 93.8% from $22.6 million the previous year.
• Net loss reached $57.9 million in Q4 2025, a 452.7% increase in loss year-over-year.
• Free cash flow was negative $30.7 million in Q4 2025, down 32.1% from Q4 2024.
• Market capitalization grew to $1.9 billion in Q4 2025, up 194.6% from the prior year.

Bottom Line

Stoke has transitioned from an early research firm to a late-stage clinical company. Its evolution depends on successfully moving its lead epilepsy treatments through final testing and into the global market.