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Jun 30, 2025
Stoke Therapeutics Q2 2025 Earnings Report
Stoke Therapeutics reported a narrower net loss in Q2 2025 as revenue more than doubled from collaborations with Acadia Pharmaceuticals and Biogen.
Key Takeaways
In Q2 2025, Stoke Therapeutics achieved significant revenue growth from collaboration agreements, reducing its net loss compared to the prior year. Increased R&D and G&A expenses reflect advancing clinical programs, including the Phase 3 EMPEROR study for zorevunersen. The company ended the quarter with a strong cash position, projecting runway into mid-2028.
Revenue rose to $13.8M from $4.8M in Q2 2024, driven by license and collaboration agreements.
Net loss narrowed to $23.5M from $25.7M in the prior-year quarter.
R&D expenses increased to $25.9M, reflecting expanded clinical development.
Cash, cash equivalents, and marketable securities totaled $355M, funding operations to mid-2028.
Revenue by Segment
Forward Guidance
Stoke anticipates continued progress in the Phase 3 EMPEROR study of zorevunersen, ongoing enrollment for the Phase 1 STK-002 trial, and selection of a SYNGAP-1 candidate in 2026.
Positive Outlook
- First patient dosed in Phase 3 EMPEROR study for zorevunersen.
- New 3-year OLE data supports zorevunersen’s disease-modifying potential.
- Initiated Phase 1 trial for STK-002 in Autosomal Dominant Optic Atrophy.
- Cash runway projected into mid-2028.
- Strong interest in zorevunersen from the medical community.
Challenges Ahead
- Ongoing net losses despite revenue growth.
- Increased operating expenses due to expanded programs.
- No current approved treatments for targeted diseases, adding development risk.
- Potential dependence on collaboration agreements for revenue.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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