BUZZ-Stoke Therapeutics eases after upsized $125 mln equity raise

Reuters03-28

** Shares of Stoke Therapeutics' down 5.2% at $13.44 early Thurs after co raises more equity than targeted

** Co late Weds announced pricing offering of 9.3 mln shares, including pre-funded warrants to buy 3.7 mln shares, for $125 mln gross proceeds with JP Morgan as sole bookrunner

** STOK surged ~38% on Weds to close at $14.17, adding to 58% gain on Tues after co announced positive early-stage data for its epilepsy drug, STK-001, to treat Dravet syndrome

** Late Tues, co launched $75 mln offering to fund development/ manufacturing of its product candidates, including late-stage development of STK-001

** Co has ~46.3 mln shares outstanding for about $620 mln current market cap, per LSEG data

** Including move on the session, shares up ~155% YTD

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@thomsonreuters.com lance.tupper@tr.com 1-646-279-6380))

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