The EPS beat is marginal and overshadowed by the non-recurring revenue drop. Focus on Phase 3 enrollment completion in June 2026 and mid-2027 data readout. The strong cash runway reduces near-term dilution risk but ATM sales remain an overhang. Monitor any regulatory milestones regarding zorevunersen.
Price Chart
Executive Summary
Stoke Therapeutics reported Q1 2026 net loss of $50.0M ($0.79 per share) vs net income of $112.9M in Q1 2025, which included a $150.8M Biogen license fee. Revenue fell to $6.2M from $158.6M. The company highlighted continued Phase 3 EMPEROR enrollment on track for June 2026 completion and a cash position of $411M funding operations into 2028.
Key Financial Metrics
Key Facts
- Net loss $50.0M ($0.79 per share) vs net income $112.9M ($1.90 diluted) in Q1 2025
- Revenue $6.2M down 96% YoY due to $150.8M prior-year Biogen IP license
- Cash, cash equivalents and marketable securities $411.0M as of March 31, 2026
- Phase 3 EMPEROR enrollment of ~150 patients on track to complete June 2026; data readout mid-2027
- Raised $80.7M via ATM sales of 2.6M shares in Q1 2026
Financial Impact
Net loss per share of $0.79 slightly beat consensus of $0.80, but revenue miss is not comparable due to license timing. Cash runway extended into 2028.
Risk Factors
- Phase 3 EMPEROR data may fail to replicate Phase 1/2a efficacy
- Dilution risk from continued ATM sales ($80.7M raised in Q1 2026)
- Regulatory delays or additional data requests from FDA
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-212020 |
| Document: stok-20260507.htm | 0001193125-26-212020 |
| Document: 0001193125-26-212020-index-headers.html | 0001193125-26-212020 |
| Document: 0001193125-26-212020-index.html | 0001193125-26-212020 |
| Document: 0001193125-26-212020.txt | 0001193125-26-212020 |
| 8-K Data (Synthetic) | 0001193125-26-212020 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 19, 2026 6w ago | Insider Cluster | $33.03 $28.93 | ▼ −12.41% | ▼ −10.46% | $25.91 (−21.56%) |
Aug 3, 2026 8w ago | 8-K | $31.67 $30.89 | ▲ +2.46% | ▲ +1.22% | $25.91 (+18.19%) |
Aug 3, 2026 8w ago | 424B5 | $31.67 $30.89 | ▲ +2.46% | ▲ +1.22% | $25.91 (+18.19%) |
Jun 30, 2026 13w ago | 8-K | $32.72 $29.31 | ▼ −10.42% | ▼ −9.39% | $25.91 (−20.82%) |
May 7, 2026 21w ago | 8-K | $32.89 $30.01 | ▼ −8.76% | ▼ −8.78% | $25.91 (−21.23%) |
Apr 22, 2026 23w ago | DEFA14A | $34.93 $30.30 | ▼ −13.27% | ▼ −17.90% | $25.91 (−25.83%) |
Apr 7, 2026 25w ago | 8-K | $34.87 $32.96 | ▼ −5.48% | ▼ −14.02% | $25.91 (−25.70%) |
Mar 13, 2026 29w ago | Insider Cluster | $33.19 $35.05 | ▼ −5.60% | ▼ −2.02% | $25.91 (+21.94%) |
Mar 10, 2026 29w ago | Insider Cluster | $38.35 $34.87 | ▼ −9.07% | ▼ −8.92% | $25.91 (−32.44%) |
US Market Status
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