Stoke Therapeutics(STOK) - 2024 Q3 - Quarterly Results

Financial Performance - Revenue recognized for the three months ended September 30, 2024, was $4.9 million, a 48.5$3.3 million in the same period in 2023[5] - Year-to-date revenue for the nine months ended September 30, 2024, was $13.9 million, compared to$6.0 million for the same period in 2023, representing a 131.7% increase[6] - Revenue for Q3 2024 was $4.894 million, up 48$3.308 million in Q3 2023[13] - Total other income for Q3 2024 was $3.573 million, up from$2.692 million in Q3 2023, a 33% increase[13] Net Loss - Net loss for the three months ended September 30, 2024, was $26.4 million, or$0.47 per share, compared to a net loss of $24.5 million, or$0.55 per share, for the same period in 2023[5] - Year-to-date net loss for the nine months ended September 30, 2024, was $78.5 million, or$1.48 per share, compared to a net loss of $77.7 million, or$1.78 per share, for the same period in 2023[6] - Net loss for Q3 2024 was $26.430 million, slightly higher than the$24.542 million loss in Q3 2023[13] - The company reported a net loss of $78.499 million for the nine months ended September 30, 2024, compared to$77.741 million for the same period in 2023[13] Expenses - Research and development expenses for the three months ended September 30, 2024, were $22.2 million, up from$20.3 million in the same period in 2023[5] - General and administrative expenses for the three months ended September 30, 2024, were $12.7 million, compared to$10.3 million for the same period in 2023[5] - Total operating expenses increased to $34.897 million in Q3 2024 from$30.542 million in Q3 2023, representing a 14% rise[13] - Research and development expenses rose to $22.205 million in Q3 2024, compared to$20.271 million in Q3 2023, a 9% increase[13] Share Information - Net loss per share improved to $(0.47) in Q3 2024 from$(0.55) in Q3 2023[13] - Weighted-average common shares outstanding increased to 56,341,074 in Q3 2024 from 44,266,017 in Q3 2023[13] Cash and Securities - As of September 30, 2024, the company had $269.2 million in cash, cash equivalents, and marketable securities[1] - The unrealized gain on marketable securities was$181,000 in Q3 2024, down from $232,000 in Q3 2023[13] Clinical Developments - The FDA has removed the Partial Clinical Hold on zorevunersen, allowing the company to proceed with its clinical studies[3] - The company plans to provide an update on Phase 3 registrational plans for zorevunersen by year-end 2024[4] - The company will present new data at the American Epilepsy Society meeting in December 2024, including data from patients treated with initial 70mg doses followed by 45mg maintenance dosing[2]