Stoke Therapeutics Q3 revenue beats analyst expectations on Biogen, Acadia collabs

Overview

• U.S. biotechnology firm's Q3 revenue rose yr/yr, beating analyst expectations

• Company posted a wider Q3 net loss as R&D and SG&A expenses increased

• Company expects cash reserves to fund operations into early 2028

Outlook

• Company expects Phase 3 EMPEROR data readout in Q3 2027 and U.S. NDA submission in H2 2027

• Initial safety and efficacy data for STK-002 in ADOA anticipated in H1 2027

• Company expects current cash position to fund operations into early 2028

Result Drivers

• COLLABORATION REVENUE - Q3 revenue driven by fulfillment of collaboration and licensing agreements with Acadia and Biogen

• R&D EXPENSES - Higher R&D costs attributed to increased activities and personnel supporting zorevunersen advancement

• SG&A EXPENSES - Increased SG&A expenses due to growth in personnel and launch readiness

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Stoke Therapeutics, Inc. is $48.00, about 81.7% above its October 28 closing price of $26.41

Reuters Recommended Reads

• Oct 28 - Biogen tops quarterly estimates on rare-disease drug strength

• Oct 29 - Kymera Q3 net loss widens as R&D costs rise

• Oct 29 - Insmed Q3 revenue beats estimates, lifts forecast

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)