SVB starts Stoke Therapeutics with 'outperform'; shares rise

Stoke Therapeutics

24/10/2022 18:01

** Shares of drug developer Stoke Therapeutics Inc  STOK.O 
rise 5.6% to $14.41
    ** SVB Securities starts STOK's coverage with "outperform"
rating and $30 PT
    ** Brokerage sees co's lead product STK-001 as a disease
modifying therapy in treating children and adolescents with
Dravet syndrome 
    ** Dravet syndrome is a severe and progressive genetic
epilepsy characterized by frequent, prolonged seizures,
beginning within the first year of life 
    ** Believes that STK-001 has a good chance to report
positive data from the ongoing early-to-mid-stage studies in Q4
2022 and could be a potential blockbuster as all current
treatments are symptom-based that focus on seizure reductions
with limited efficacy 
    ** Brokerage assumes commercial launch of STK-001 in 2026
and expects peak U.S. and EU sales of ~$1.2 bln and ~$600 mln by
2030 
    ** Also says co can leverage its research platform TANGO to
deliver additional products across a broad range of genetic
disorders
    ** Despite session's gain, stock down 39.95% YTD
 (Reporting by Pratik Jain)
 ((Pratik.Jain@thomsonreuters.com;))