Stoke Therapeutics Reports $10.6M Revenue in Q3 2025, Net Loss of $38.3M

Stoke Therapeutics, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending September 30, 2025. The company generated revenue of $10.6 million for the third quarter, a substantial increase from $4.9 million in the same period last year. For the nine months ended September 30, 2025, total revenue reached $183 million, compared to just $13.9 million for the first nine months of 2024. This growth is primarily attributed to the company's collaboration agreements with Biogen and Acadia Pharmaceuticals, particularly the Biogen Agreement, which contributed $150.8 million related to the IP license performance obligation.

Despite the increase in revenue, Stoke Therapeutics reported a net loss of $38.3 million for the third quarter, compared to a loss of $26.4 million in the same quarter of 2024. For the nine-month period, the company achieved a net income of $51 million, a notable turnaround from a loss of $78.5 million in the prior year. The increase in operating expenses, which totaled $53.7 million for the quarter and $142.2 million for the nine months, was driven by heightened research and development costs associated with the ongoing clinical trials for its lead product, zorevunersen, and other programs.

Operationally, Stoke Therapeutics is advancing its clinical pipeline, particularly with zorevunersen, which is in late-stage clinical testing for Dravet syndrome. The company initiated a Phase 3 study, EMPEROR, in May 2025, with the first patient dosed in August. The ongoing studies have shown promising results, including substantial reductions in seizure frequency and improvements in cognitive function among participants. Additionally, the company is pursuing treatment for autosomal dominant optic atrophy (ADOA) with its candidate STK-002, which is currently in a Phase 1 study.

As of September 30, 2025, Stoke Therapeutics reported total assets of $360.3 million, up from $271.6 million at the end of 2024. The company had cash, cash equivalents, and marketable securities totaling $328.6 million, which it believes will fund operations through mid-2028. The company continues to face challenges typical of early-stage biotechnology firms, including the need for additional funding to support ongoing research and development efforts. Looking ahead, Stoke Therapeutics anticipates continued investment in its clinical programs and expects to incur net losses as it seeks to bring its product candidates to market.