$STOK
Stoke Therapeutics, Inc.

2024 Q2 Form 10-Q Financial Statement

#000095017024053535 Filed on May 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $4.831M $4.216M
YoY Change -294.72% -18.17%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $13.04M $10.22M
YoY Change 27.44% 0.09%
% of Gross Profit
Research & Development $21.14M $22.37M
YoY Change 2.85% 13.94%
% of Gross Profit
Depreciation & Amortization $548.0K $563.0K
YoY Change -10.31% -5.7%
% of Gross Profit
Operating Expenses $34.17M $32.59M
YoY Change 11.02% 9.2%
Operating Profit -$29.34M -$28.37M
YoY Change -11.79% 14.91%
Interest Expense $3.695M $2.426M
YoY Change 43.94% 15.36%
% of Operating Profit
Other Income/Expense, Net $3.647M $1.998M
YoY Change 39.84% -6.85%
Pretax Income -$25.70M -$26.37M
YoY Change -16.18% 16.98%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$25.70M -$26.37M
YoY Change -16.18% 16.98%
Net Earnings / Revenue -531.88% -625.57%
Basic Earnings Per Share -$0.46 -$0.57
Diluted Earnings Per Share -$0.46 -$0.57
COMMON SHARES
Basic Shares Outstanding 52.12M 46.30M
Diluted Shares Outstanding 55.77M 46.25M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $282.0M $178.6M
YoY Change 21.83% -29.6%
Cash & Equivalents $193.5M $178.6M
Short-Term Investments $88.51M $0.00
Other Short-Term Assets $4.287M $3.559M
YoY Change 15.9% -39.47%
Inventory
Prepaid Expenses $10.35M $10.72M
Receivables
Other Receivables
Total Short-Term Assets $297.0M $193.3M
YoY Change 20.62% -28.48%
LONG-TERM ASSETS
Property, Plant & Equipment $4.770M $5.278M
YoY Change -26.3% -22.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $494.0K $569.0K
YoY Change -13.18% 0.0%
Total Long-Term Assets $10.76M $11.91M
YoY Change 0.71% 3.0%
TOTAL ASSETS
Total Short-Term Assets $297.0M $193.3M
Total Long-Term Assets $10.76M $11.91M
Total Assets $307.8M $205.2M
YoY Change 19.79% -27.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.945M $2.102M
YoY Change 153.53% -51.1%
Accrued Expenses $14.50M $11.59M
YoY Change 25.88% -12.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $44.50M $35.59M
YoY Change 103.76% 12.89%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.606M $4.208M
YoY Change 121.36% 82.72%
Total Long-Term Liabilities $20.55M $29.25M
YoY Change -54.21% -19.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $44.50M $35.59M
Total Long-Term Liabilities $20.55M $29.25M
Total Liabilities $65.05M $64.84M
YoY Change -2.51% -4.61%
SHAREHOLDERS EQUITY
Retained Earnings -$453.9M -$428.2M
YoY Change 29.56% 33.95%
Common Stock $5.000K $5.000K
YoY Change 25.0% 25.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $242.7M $140.3M
YoY Change
Total Liabilities & Shareholders Equity $307.8M $205.2M
YoY Change 19.79% -27.19%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$25.70M -$26.37M
YoY Change -16.18% 16.98%
Depreciation, Depletion And Amortization $548.0K $563.0K
YoY Change -10.31% -5.7%
Cash From Operating Activities -$17.48M -$24.57M
YoY Change -19.83% 15.03%
INVESTING ACTIVITIES
Capital Expenditures $46.00K $12.00K
YoY Change -94.52% -92.73%
Acquisitions
YoY Change
Other Investing Activities -$88.23M $10.00M
YoY Change -462.92% -81.22%
Cash From Investing Activities -$88.28M $9.988M
YoY Change -476.08% -81.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 120.7M 1.717M
YoY Change 251254.17% -96.19%
NET CHANGE
Cash From Operating Activities -17.48M -24.57M
Cash From Investing Activities -88.28M 9.988M
Cash From Financing Activities 120.7M 1.717M
Net Change In Cash 14.90M -12.86M
YoY Change 765.49% -116.75%
FREE CASH FLOW
Cash From Operating Activities -$17.48M -$24.57M
Capital Expenditures $46.00K $12.00K
Free Cash Flow -$17.52M -$24.58M
YoY Change -22.6% 14.2%

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CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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>
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
178581000
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
190339000
CY2024Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
569000
CY2023Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
569000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
179150000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
190908000
CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
CY2024Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
0
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
9976000
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
24000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
9952000
CY2024Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
CY2024Q1 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
1653000
CY2023Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
5611000
CY2024Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1732000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
651000
CY2024Q1 stok Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
5992000
CY2023Q4 stok Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
4634000
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2213000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2062000
CY2024Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
980000
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
857000
CY2024Q1 stok Accrued And Other Current Liabilities
AccruedAndOtherCurrentLiabilities
12570000
CY2023Q4 stok Accrued And Other Current Liabilities
AccruedAndOtherCurrentLiabilities
13815000
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
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1959000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2661000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2564000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
7184000
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
846000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
6338000
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
6060000
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2213000
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4125000
CY2024Q1 stok Operating Lease Liability Excluding Leases Entered Access Yet To Be Granted
OperatingLeaseLiabilityExcludingLeasesEnteredAccessYetToBeGranted
6338000
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y7M6D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0997
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1099000
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
25200000
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y10M24D
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5410000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5887000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-26374000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-22545000
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46246889
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46246889
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42536474
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42536474
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.57
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.57
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.53
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.53
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9850148
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10046864
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2024Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2024Q1 ecd Trd Arr Ind Name
TrdArrIndName
Arthur Tzianabos
CY2024Q1 ecd Trd Arr Ind Title
TrdArrIndTitle
Director
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
true
CY2024Q1 ecd Trd Arr Adoption Date
TrdArrAdoptionDate
3/8/2024
CY2024Q1 ecd Trd Arr Securities Agg Avail Amt
TrdArrSecuritiesAggAvailAmt
73739
CY2024Q1 stok Trd Arr Expiration Date
TrdArrExpirationDate
3/15/2025

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