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Stoke Therapeutics Inc. (STOK-4.49%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, reporting a net loss of $89.0 million compared to $104.7 million in the previous year. The decrease in net loss is primarily attributed to increased revenue from a collaboration with Acadia Pharmaceuticals.
Research and development expenses increased to $89.1 million from $82.2 million, driven by higher personnel costs and increased spending on the zorevunersen program.
General and administrative expenses rose to $48.8 million from $41.3 million, reflecting increased personnel costs and third-party services.
The company reported $246.7 million in cash, cash equivalents, and marketable securities as of December 31, 2024, and anticipates that these funds, along with a $165 million upfront payment from Biogen, will fund operations to mid-2028.
Stoke Therapeutics is advancing its lead product candidate, zorevunersen, for Dravet syndrome and plans to initiate a Phase 3 study in the second quarter of 2025.
The company is also developing STK-002 for autosomal dominant optic atrophy (ADOA) and is conducting preclinical activities to support future clinical studies.
Stoke Therapeutics has entered into a license and collaboration agreement with Biogen for the development and commercialization of zorevunersen outside the U.S., Canada, and Mexico.
The company continues to focus on its proprietary TANGO platform to develop RNA-based medicines for severe diseases caused by haploinsufficiencies.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Stoke Therapeutics Inc. annual 10-K report dated March 18, 2025. To report an error, please email earnings@qz.com.