Stoke Therapeutics files $200 million at-the-market stock offering

Stoke Therapeutics filed a new prospectus supplement dated August 3, 2026, covering up to $200,000,000 in common stock sales under an existing Controlled Equity Offering Sales Agreement with Cantor Fitzgerald & Co.¹ Under the prior version of that arrangement, Stoke had already issued and sold approximately 4.7 million shares for aggregate net proceeds of $146.4 million, under a prospectus supplement and base prospectus dated March 18, 2026.¹ The new filing replaces and supersedes that earlier prospectus supplement in its entirety, and Stoke will not make further offers or sales under the prior version.¹

Stoke's stock last traded at $28.86 per share on Nasdaq on July 31, 2026.¹ Assuming the full $200 million is raised at that price, the company said it could issue up to roughly 6,930,006 additional shares.¹ Its net tangible book value stood at approximately $345.5 million, or about $5.54 per share, as of June 30, 2026¹, and would rise to an as-adjusted $541.2 million, or $7.81 per share, after the assumed raise, an immediate increase of $2.27 per share for existing holders and $21.05 per share of dilution for new investors.¹

Stoke said it intends to use proceeds primarily for general corporate purposes, including funding research, clinical and process development, manufacturing, commercialization preparations, working capital, debt reduction, acquisitions, and collaborations.¹ Cantor will earn up to a 3.0% commission on the gross sales price of shares sold under the agreement.¹

On the clinical side, the filing describes zorevunersen (STK-001) as a potential disease modifying medicine in late-stage clinical testing for Dravet syndrome, a severe and progressive genetic epilepsy¹, now in the global Phase 3 EMPEROR study. Stoke said it expects to complete enrollment of about 150 patients in the second quarter of 2026, with pivotal Phase 3 data expected around mid-2027 to support an NDA filing¹, and plans a rolling NDA submission in the first half of 2027.¹