$STOK
Stoke Therapeutics, Inc.

2023 Q3 Form 10-Q Financial Statement

#000095017023039050 Filed on August 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $3.308M -$2.481M
YoY Change 13.87% -176.79%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $10.27M $10.23M
YoY Change 3.28% 1.18%
% of Gross Profit
Research & Development $20.27M $20.55M
YoY Change 0.81% 11.95%
% of Gross Profit
Depreciation & Amortization $640.0K $611.0K
YoY Change 64.95% 102.32%
% of Gross Profit
Operating Expenses $30.54M $30.78M
YoY Change 1.63% 8.12%
Operating Profit -$27.23M -$33.26M
YoY Change 0.32% 31.79%
Interest Expense $2.651M $2.567M
YoY Change 166.43% 371.88%
% of Operating Profit
Other Income/Expense, Net $2.692M $2.608M
YoY Change 159.59% 345.05%
Pretax Income -$24.54M -$30.65M
YoY Change -6.02% 24.35%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$24.54M -$30.65M
YoY Change -6.01% 24.35%
Net Earnings / Revenue -741.9%
Basic Earnings Per Share -$0.55 -$0.69
Diluted Earnings Per Share -$0.55 -$0.69
COMMON SHARES
Basic Shares Outstanding 44.26M 44.19M
Diluted Shares Outstanding 44.27M 44.19M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $214.7M $231.4M
YoY Change -14.68% -16.03%
Cash & Equivalents $190.0M $192.1M
Short-Term Investments $24.74M $39.39M
Other Short-Term Assets $4.269M $3.699M
YoY Change -65.99% -71.93%
Inventory
Prepaid Expenses $10.94M $10.95M
Receivables
Other Receivables
Total Short-Term Assets $230.0M $246.2M
YoY Change -13.07% -14.85%
LONG-TERM ASSETS
Property, Plant & Equipment $6.217M $6.472M
YoY Change -13.18% 10.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $600.0K $569.0K
YoY Change 5.45% 0.0%
Total Long-Term Assets $9.870M $10.69M
YoY Change -24.22% -12.89%
TOTAL ASSETS
Total Short-Term Assets $230.0M $246.2M
Total Long-Term Assets $9.870M $10.69M
Total Assets $239.9M $256.9M
YoY Change -13.59% -14.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.076M $1.556M
YoY Change 60.96% -56.8%
Accrued Expenses $12.90M $11.52M
YoY Change -5.29% -9.03%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $25.20M $21.84M
YoY Change -12.48% -21.02%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $959.0K $1.629M
YoY Change -73.43% -61.64%
Total Long-Term Liabilities $41.69M $44.89M
YoY Change -6.71% -9.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $25.20M $21.84M
Total Long-Term Liabilities $41.69M $44.89M
Total Liabilities $66.89M $66.72M
YoY Change -8.97% -13.46%
SHAREHOLDERS EQUITY
Retained Earnings -$374.9M -$350.3M
YoY Change 38.08% 42.78%
Common Stock $4.000K $4.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $173.0M $190.2M
YoY Change
Total Liabilities & Shareholders Equity $239.9M $256.9M
YoY Change -13.59% -14.77%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$24.54M -$30.65M
YoY Change -6.01% 24.35%
Depreciation, Depletion And Amortization $640.0K $611.0K
YoY Change 64.95% 102.32%
Cash From Operating Activities -$17.26M -$21.80M
YoY Change -21.74% 9.39%
INVESTING ACTIVITIES
Capital Expenditures $390.0K $839.0K
YoY Change -119.21% -223.02%
Acquisitions
YoY Change
Other Investing Activities $15.00M $24.31M
YoY Change -78.35% 2836.23%
Cash From Investing Activities $14.62M $23.47M
YoY Change -78.26% 15977.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 560.0K 48.00K
YoY Change 29.03% -98.6%
NET CHANGE
Cash From Operating Activities -17.26M -21.80M
Cash From Investing Activities 14.62M 23.47M
Cash From Financing Activities 560.0K 48.00K
Net Change In Cash -2.080M 1.721M
YoY Change -104.56% -110.52%
FREE CASH FLOW
Cash From Operating Activities -$17.26M -$21.80M
Capital Expenditures $390.0K $839.0K
Free Cash Flow -$17.65M -$22.64M
YoY Change -11.86% 17.63%

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ProceedsFromSaleAndMaturityOfMarketableSecurities
62371000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
76558000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-135636000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
206000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
169000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
153000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
419000
stok Proceeds From Controlled Equity Offering Sales Agreement
ProceedsFromControlledEquityOfferingSalesAgreement
44743000
stok Proceeds From Controlled Equity Offering Sales Agreement
ProceedsFromControlledEquityOfferingSalesAgreement
45344000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
45102000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
45932000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
78504000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-77141000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
114125000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
145464000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
192629000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
68323000
stok Right Of Use Assets Recognized In Exchange For Operating Leases
RightOfUseAssetsRecognizedInExchangeForOperatingLeases
1802000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
754000
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, equity, revenue, expenses and disclosure of contingent assets and liabilities. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Actual results could differ from those estimates.</span></p>
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
192060000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4049000
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
137000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
3912000
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
67754000
CY2023Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
569000
CY2022Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
569000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
192629000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
68323000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
CY2023Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
39766000
CY2023Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
379000
CY2023Q2 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
39387000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
117214000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1175000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
116039000
CY2023Q2 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
CY2023Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
3170000
CY2022Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
5754000
CY2023Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
796000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
525000
CY2023Q2 stok Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
5103000
CY2022Q4 stok Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
6601000
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2450000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2359000
CY2023Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
703000
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
509000
CY2023Q2 stok Accrued And Other Current Liabilities
AccruedAndOtherCurrentLiabilities
12222000
CY2022Q4 stok Accrued And Other Current Liabilities
AccruedAndOtherCurrentLiabilities
15748000
CY2018Q3 stok Area Of Space Subject To Operating Lease
AreaOfSpaceSubjectToOperatingLease
23000
CY2018Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P3Y
CY2018Q3 stok Operating Lease Cost Per Year
OperatingLeaseCostPerYear
900000
CY2018Q3 stok Annual Base Rent Increase Percentage For Operating Lease
AnnualBaseRentIncreasePercentageForOperatingLease
0.03
CY2018Q3 stok Operating Lease Commencement Date
OperatingLeaseCommencementDate
2018-12-10
CY2018Q4 stok Area Of Space Subject To Operating Lease
AreaOfSpaceSubjectToOperatingLease
2485
CY2018Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P3Y
CY2018Q4 stok Number Of Renewal Option To Extend Operating Lease Terms
NumberOfRenewalOptionToExtendOperatingLeaseTerms
1
CY2018Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P2Y
CY2018Q4 stok Operating Lease Cost Per Year
OperatingLeaseCostPerYear
200000
CY2018Q4 stok Annual Base Rent Increase Percentage For Operating Lease
AnnualBaseRentIncreasePercentageForOperatingLease
0.025
CY2018Q4 stok Operating Lease Commencement Date
OperatingLeaseCommencementDate
2019-05-01
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1269000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2608000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
172000
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3646000
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2450000
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1462000
CY2023Q2 stok Operating Lease Liability Excluding Leases Entered Access Yet To Be Granted
OperatingLeaseLiabilityExcludingLeasesEnteredAccessYetToBeGranted
3912000
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y7M6D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0470
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
281587
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
55600000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P3Y8M15D
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6760000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6163000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12647000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11138000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-30654000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-24652000
us-gaap Net Income Loss
NetIncomeLoss
-53199000
us-gaap Net Income Loss
NetIncomeLoss
-49301000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44188464
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44188464
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39258358
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39258358
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43367032
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43367032
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38358936
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38358936
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.69
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.69
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.63
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.63
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.23
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.23
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.29
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.29
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0

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