Stoke Therapeutics Reports Significant Revenue Decline and Increased Losses in Q2 2026

Stoke Therapeutics, Inc. reported a significant decline in financial performance for the second quarter of 2026, with revenues of $9.3 million, down from $13.8 million in the same period last year. For the first half of 2026, total revenue was $15.6 million, a stark decrease from $172.4 million in the first half of 2025, primarily due to the recognition of a substantial $150.8 million related to a licensing agreement with Biogen in the previous year. The company recorded a net loss of $61.6 million for the quarter and $111.6 million for the six months ended June 30, 2026, compared to a net income of $89.4 million for the same period in 2025.

Operating expenses surged to $74.8 million for the second quarter of 2026, compared to $41.1 million in the prior year, driven by increased research and development costs, which rose to $49.5 million from $25.9 million. This increase was largely attributed to expenses related to the development of zorevunersen, the company's lead product candidate for Dravet syndrome, and other ongoing clinical programs. Sales, general, and administrative expenses also increased to $25.3 million from $15.3 million, reflecting the company's preparations for potential commercialization and increased operational costs.

Stoke Therapeutics continues to advance its clinical programs, particularly zorevunersen, which is currently in a global Phase 3 study called EMPEROR. The company has completed enrollment of 162 patients across the U.S., UK, and Japan, with a data readout expected in the third quarter of 2027. Additionally, the company is pursuing treatment for Autosomal Dominant Optic Atrophy (ADOA) with its candidate STK-002, which is in a Phase 1 study. The company has also made strategic moves, including the appointment of Thomas McCauley, Ph.D., as Chief Scientific Officer to lead its scientific strategy.

As of June 30, 2026, Stoke Therapeutics had $354.3 million in cash, cash equivalents, and marketable securities, a decrease from $390.9 million at the end of 2025. The company anticipates that its current cash reserves, along with additional proceeds from recent equity offerings, will be sufficient to fund operations through the potential U.S. commercialization of zorevunersen in early 2028. However, the company acknowledges the need for ongoing financing to support its research and development activities and to navigate the uncertainties inherent in the biotechnology sector.