Stoke Therapeutics Reports $158.6 Million Revenue and $112.9 Million Net Income in Latest Quarter

Stoke Therapeutics, Inc. reported significant financial growth in its latest quarterly filing, with revenue reaching $158.6 million for the three months ended March 31, 2025, compared to just $4.2 million during the same period in 2024. This increase of $154.4 million is primarily attributed to revenue recognized from the collaboration and licensing agreements with Biogen and Acadia Pharmaceuticals, particularly a $150.8 million contribution from the Biogen agreement. The company also reported a net income of $112.9 million, a substantial turnaround from a net loss of $26.4 million in the prior year.

The company’s operating expenses also rose, totaling $47.3 million for the first quarter of 2025, up from $32.6 million in the same quarter of 2024. Research and development expenses increased to $32.7 million, driven by higher personnel costs and expenses related to the zorevunersen program, which is in late-stage clinical testing for Dravet syndrome. General and administrative expenses also saw an increase, reflecting the company's growth and operational needs.

Stoke Therapeutics has made strategic advancements, including the completion of a License and Collaboration Agreement with Biogen in February 2025, which included an upfront payment of $165 million. This agreement allows for the joint development of zorevunersen and other compounds targeting the SCN1A gene. The company is also preparing to initiate a Phase 3 study for zorevunersen, expected to begin in the second quarter of 2025, following alignment with regulatory agencies.

As of March 31, 2025, Stoke Therapeutics reported total assets of $406.9 million, significantly up from $271.6 million at the end of 2024. The company’s cash, cash equivalents, and marketable securities totaled $380.3 million, which management believes will fund operations through mid-2028. However, the company anticipates continued operating losses as it invests in research and development and seeks regulatory approvals for its product candidates. The outlook remains cautious, with management noting the potential need for additional financing to support ongoing operations and development activities.