Secondary Stock Offerings
By The Online Investor Staff, updated Fri., Mar. 29, 9:35 AM
This Slide: #4 of 25 |
Slide #4. Stoke Therapeutics, Inc. — Secondary Offering
Company:
Stoke Therapeutics, Inc. (NASDAQ:STOK)
Date announced:
3/26/2024
Shares Offered:
9,259,287
Date of Pricing:
3/27/2024
Price Per Share:
$13.50
Secondary Offering Details:
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 a proposed underwritten public offering in which it intends to offer and sell, subject to market and other conditions, up to $75 million of shares of its common stock. In addition, Stoke intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering. All of the shares of common stock are being offered by Stoke. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. -updated 3/27- 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.
Stoke Therapeutics is a biotechnology company focused on treating the underlying causes of severe genetic diseases by upregulating protein expression. Using its proprietary TANGO (Targeted Augmentation of Nuclear Gene Output) approach, Co. is developing antisense oligonucleotides to selectively restore protein levels. Co.'s first compound, STK-001, is in clinical testing for the treatment of Dravet syndrome, a severe and progressive genetic epilepsy. Co.'s second product candidate, STK-002, is in development for treatment of Autosomal Dominant Optic Atrophy.
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Strong Buy (3.67 out of 4) 65th percentile
(ranked higher than approx. 65% of all stocks covered)
Analysts' Target Price: STOK Stock Forecast Based on Zacks ABR data; powered by Xignite |