Stoke Therapeutics surges again after stock offering launch

Stoke Therapeutics

27/03/2024 15:15

** Stoke Therapeutics'  STOK.O  up 45.8% at $15, highest
since Nov 2022, adding to big gains in previous session
    ** STOK on Tues closed up 58% at $10.29 after co announced
positive early-stage data for its epilepsy drug, STK-001, to
treat Dravet syndrome
    ** After the bell Tues, co announced $75 mln stock offering
to fund development/ manufacturing of product candidates,
including late-stage development of STK-001
    ** JP Morgan sole bookrunner for offering slated to price
Weds after market close
    ** Co has ~46.3 mln shares outstanding for nearly $700 mln
market cap, per LSEG data

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))