News

(RTTNews) - Stoke Therapeutics, Inc. (STOK) said that it has priced an upsized underwritten public offering of 5,555,557 shares at $13.50 per share and, in lieu of shares to investors that so choose, pre-funded warrants to purchase up to 3,703,730 shares at $13.4999.

The gross proceeds from this offering, to be closed on or about April 2, are expected to be $125 million.

Stoke has also granted the underwriters a 30-day option to purchase up to an additional 1,388,893 shares.

The drug maker intends to use the net proceeds from the offering, together with its existing cash, to fund research, clinical and process development, and the manufacturing of its product candidates.

This includes late-stage development of STK-001 and further development of STK-002, developing additional product candidates, working capital expenditures, and for general corporate purposes.

All of the shares and pre-funded warrants are being offered by Stoke.

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

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