Financial Results Beat Analyst Expectations

Stoke Therapeutics Reports Quarterly Loss, Surprises with Revenue

Financial Results Beat Analyst Expectations

Stoke Therapeutics (NASDAQ: STOK) reported a wider-than-expected quarterly loss but surpassed revenue estimates, sending its stock price higher in premarket trading on Friday. The company said that it incurred a net loss of $65.8 million in the second quarter that ended on June 30th. On a per-share basis, the biotechnology company lost 46 cents. In comparison, analysts had forecast the loss per share to cap at 69 cents.

In terms of revenue, Stoke Therapeutics recorded a 45.08% annualised growth in the recent quarter to $54.0 million. According to FactSet, experts had anticipated the company to generate $47.98 million of revenue.

Other notable figures in the earnings report include a 31.5% growth in total operating expenses to $64.3 million. Stoke Therapeutics now has $310.5 million of cash and equivalents at its disposal.