On March 28, 2024, Stoke Therapeutics, a biotechnology company focused on developing RNA-based medicines to treat severe diseases, announced the pricing of its upsized underwritten public offering. The company is offering 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. Stoke has also granted the underwriters a 30-day option to purchase up to an additional 1,388,893 shares. The gross proceeds from this offering, to be closed on or about April 2, are expected to be $125 million before expenses. Wilson Sonsini Goodrich & Rosati advised Stoke on IP matters related to the transaction.

The net proceeds from the offering, in addition to Stoke’s existing cash and cash equivalents, will be used to fund research, clinical and process development, manufacturing of product candidates such as STK-001 for Dravet syndrome and STK-002, an ophthalmology candidate, advancement of additional product candidates, working capital, capital expenditures, and for other general corporate purposes.

The Wilson Sonsini team that advised Stoke on IP matters related to the transaction included Lou Lieto, Chris McAndrew, Wei Huang, Lisa Nip, Swati Sharma, Srividya Chandramouli, and Blake Torrance.

For more information, please see Stoke Therapeutics’ press release.