Stoke Therapeutics Opens Above IPO Price
Stoke Therapeutics, Inc. (NASDAQ: STOK) opened Wednesday morning at $27.21 per share. The company priced 7 million shares of common stock at $18 per share.
JPMorgan, Cowen, Credit Suisse and Cannacord Genuity are the underwriters for the offering. As Stoke qualifies as an "emerging growth company" and a "smaller reporting company" under the federal securities laws, it has the leeway to comply with certain reduced disclosure norms.
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The Massachusetts-based early-stage biopharma company was founded in June 2014 and pioneers a new way of treating underlying causes of several genetic diseases by precisely upregulating protein expression.
Stoke is developing novel antisense oligonucleotide medicines targeting RNA and modulate precursor-mRNA, developed using its proprietary technology platform names TANGO - Targeted Augmentation of Nuclear Gene Output.
Stoke shares traded around $28.64 at time of publication.
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