BEDFORD, MA—Allan Jonathan, the General Counsel and Corporate Secretary of Stoke Therapeutics, Inc. (NASDAQ:STOK), recently sold a significant portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Jonathan sold a total of 13,666 shares of common stock in two separate transactions on December 9, 2024. The sale comes as Stoke's stock has shown remarkable performance, with a year-to-date return of over 150%, according to InvestingPro data.
The first transaction involved the sale of 12,114 shares at a weighted average price of $13.6878, resulting in proceeds of approximately $165,814. These shares were sold in multiple transactions at prices ranging from $13.41 to $14.22 per share. This sale was executed under a pre-established Rule 10b5-1 trading plan adopted by Jonathan on December 15, 2023.
In the second transaction, Jonathan sold 1,552 shares at a weighted average price of $12.9923, totaling approximately $20,164. This sale was mandated by the issuer to satisfy tax withholding liabilities related to the vesting and settlement of restricted stock units. The shares in this transaction were sold at prices ranging from $12.99 to $13.24 per share.
Following these transactions, Jonathan now holds 21,476 shares of Stoke Therapeutics' common stock. Stoke Therapeutics is a biotechnology company focused on developing treatments for severe genetic diseases. With a market capitalization of $691 million and a strong financial position marked by a current ratio of 5.09, the company maintains robust liquidity. InvestingPro analysis reveals several additional key metrics and insights available to subscribers, including detailed financial health scores and analyst forecasts.
In other recent news, Stoke Therapeutics has seen significant developments in its drug candidate zorevunersen. The U.S. Food and Drug Administration granted Breakthrough Therapy Designation for the drug, which targets a specific mutation in the SCN1A gene associated with Dravet syndrome, a rare form of epilepsy. This comes after positive outcomes from Phase 1/2a and open-label extension studies, showing a significant reduction in seizure frequency and improved cognitive and behavioral measures in patients. Stoke Therapeutics is currently in discussions with the FDA and other global regulatory bodies to advance zorevunersen into a global, randomized, controlled Phase 3 registrational study. Furthermore, Stoke Therapeutics maintained its Buy rating from TD (TSX:TD) Cowen following the release of these promising clinical trial results. The company also resolved a director compensation dispute, agreeing to a mootness fee of $175,000 and consenting to pay up to $415,000 in attorney's fees and expenses. These are the recent developments that have shaped Stoke Therapeutics' trajectory.
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