Stoke Therapeutics Appoints Jason Hoitt as Chief Commercial Officer - Seite 2

Effective on April 15, 2024, Stoke granted Mr. Hoitt a stock option to purchase an aggregate of 265,000 shares of common stock, as a material inducement to his employment in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock option that was granted has an exercise price of $12.21 per share, which is equal to the closing price of Stoke’s common stock on April 15, 2024. The option will vest over a 4-year period, with 1/4^th of the shares underlying the option vesting on the one-year anniversary of the applicable vesting commencement date and the remaining shares thereafter vesting monthly at a rate of 1/48^th of the shares underlying the option over the following 36 months, subject to Mr. Hoitt’s continued employment with Stoke on such vesting dates. The option has a term of 10 years and is subject to the terms and conditions of the 2023 Inducement Plan and the stock option agreement covering the grant.

About Stoke Therapeutics

Stoke Therapeutics (Nasdaq: STOK), is a biotechnology company dedicated to addressing the underlying cause of severe diseases by upregulating protein expression with RNA-based medicines. Using Stoke’s proprietary TANGO (Targeted Augmentation of Nuclear Gene Output) approach, Stoke is developing antisense oligonucleotides (ASOs) to selectively restore protein levels. Stoke’s first compound, STK-001, is in clinical testing for the treatment of Dravet syndrome, a severe and progressive genetic epilepsy. Dravet syndrome is one of many diseases caused by a haploinsufficiency, in which a loss of ~50% of normal protein levels leads to disease. Stoke is pursuing the development of STK-002 for the treatment of autosomal dominant optic atrophy (ADOA), the most common inherited optic nerve disorder. Stoke’s initial focus is haploinsufficiencies and diseases of the central nervous system and the eye, although proof of concept has been demonstrated in other organs, tissues, and systems, supporting its belief in the broad potential for its proprietary approach. Stoke is headquartered in Bedford, Massachusetts with offices in Cambridge, Massachusetts. For more information, visit https://www.stoketherapeutics.com/.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, the ability of STK-001 to treat the underlying cause of Dravet syndrome, and the timing and expected progress of clinical trials, regulatory decisions and successful development of STK-001. Statements including words such as “will,” “expect,” “plan,” and “potential” and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they prove incorrect or do not fully materialize, could cause results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, risks and uncertainties related to: the Company’s ability to advance, obtain regulatory approval of, and ultimately commercialize its product candidates, including STK-001; positive results in a clinical trial may not be replicated in subsequent trials; successes in early stage trials may not be predictive of results in later stage trials; the Company’s ability to fund development activities and achieve development goals; and other risks and uncertainties described under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, its quarterly reports on Form 10-Q, and the other documents it files from time to time with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.