Stoke Therapeutics Announces Pricing of Upsized $125 Million Public Offering

Stoke Therapeutics, Inc. (Nasdaq: STOK), a biotechnology company dedicated to addressing the underlying cause of severe diseases by upregulating protein expression with RNA-based medicines, today announced the pricing of its upsized underwritten public offering of 5,555,557 shares of its common stock at a price to the public of $13.50 per share and, in lieu of common stock to investors that so choose, pre-funded warrants to purchase up to an aggregate of 3,703,730 shares of its common stock at a price to the public of $13.4999. The gross proceeds from this offering are expected to be $125 million, before deducting underwriting discounts and commissions and other offering expenses payable by Stoke. The offering is expected to close on or about April 2, 2024, subject to the satisfaction of customary closing conditions. Stoke has also granted the underwriters a 30-day option to purchase up to an additional 1,388,893 shares of common stock in connection with the offering. All of the shares of common stock and pre-funded warrants are being offered by Stoke.

J.P. Morgan Securities LLC is acting as sole book-running manager for the offering.

Stoke intends to use the net proceeds from the proposed offering, together with its existing cash and cash equivalents, to fund research, clinical and process development and manufacturing of its product candidates, including late-stage development of STK-001 and further development of STK-002, developing additional product candidates, working capital, capital expenditures, and for other general corporate purposes.

The shares and pre-funded warrants are being offered by Stoke pursuant to a registration statement on Form S-3 (No. 333-265107) that was declared effective by the Securities and Exchange Commission (the “SEC”) on May 31, 2022. A preliminary prospectus supplement and accompanying prospectus relating to this offering have been filed with the SEC. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering, and when available, the final prospectus supplement, may be obtained from J.P. Morgan Securities LLC, c/o: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at 866-803-9204 or by email at [e-mail]. Electronic copies of the preliminary prospectus supplement and accompanying prospectus will also be available on the website of the SEC at http://www.sec.gov.