Earnings Releases·Oct 29, 2026, 4:05 PM ET

Stoke Therapeutics — Third Quarter 2026 Earnings Summary

Revenue for the three months ended September 30, 2026, rose to $11.3 million from $10.6 million in 2025, while nine-month revenue fell to $26.8 million from $183.0 million due to the absence of a $150.8 million Biogen IP license recognition in 2025; net loss widened to $73.6 million ($1.08/share) for the quarter and $185.3 million ($2.81/share) for the nine months, compared to a net income of $51.0 million in the prior-year nine-month period.
Operating expenses increased significantly year-over-year, with R&D rising to $59.8 million for the quarter (from $37.7 million) and $149.0 million for nine months (from $96.2 million), while SG&A reached $28.7 million for the quarter (from $16.0 million) and $74.0 million for nine months (from $45.9 million).
The company maintains a cash position of $358.8 million as of September 30, 2026, expected to fund operations into early 2028, supporting a Phase 3 EMPEROR data readout in Q3 2027, an NDA submission in H2 2027, and a potential commercial launch in early 2028.
Strategic progress includes the completion of global enrollment for the Phase 3 EMPEROR study with 162 patients in the primary analysis population and ongoing Phase 1 OSPREY dosing for STK-002, with the fourth cohort expected to begin in early 2027.