BEDFORD, MA—Ticho Barry, the Chief Medical (TASE:PMCN) Officer of Stoke Therapeutics, Inc. (NASDAQ:STOK), recently executed a sale of 13,945 shares of the company's common stock. The shares were sold at a weighted average price of $12.78, resulting in a total transaction value of approximately $178,182. Following this sale, Barry retains ownership of 47,332 shares in the company. The transaction comes as STOK shows remarkable strength, with shares up over 150% year-to-date according to InvestingPro data.
The sale was conducted to satisfy tax withholding obligations related to the vesting and settlement of restricted stock units, as mandated by the issuer. The transaction price varied between $11.93 and $13.46 per share. InvestingPro analysis reveals the company maintains a strong financial position with a current ratio of 5.09 and holds more cash than debt on its balance sheet. Additional InvestingPro Tips highlight positive analyst sentiment and growth prospects.
In other recent news, Stoke Therapeutics has been granted Breakthrough Therapy Designation by the U.S. Food and Drug Administration (FDA) for its drug candidate zorevunersen, aimed at treating Dravet syndrome. This decision by the FDA follows positive outcomes from Phase 1/2a and open-label extension studies, showing that zorevunersen significantly reduced seizure frequency and improved cognitive and behavioral measures in patients. The company is also in ongoing discussions with the FDA and other global regulatory bodies to advance zorevunersen into a global, randomized, controlled Phase 3 registrational study.
In addition to this, Stoke Therapeutics has maintained its Buy rating from TD Cowen following the release of promising clinical trial results for zorevunersen. The company also settled 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. This settlement includes the company's commitment to maintain specific director compensation policy changes.
Furthermore, a leading brokerage firm maintained its Buy rating for Stoke Therapeutics with a price target of $35 per share. These are recent developments that have shaped Stoke Therapeutics' trajectory.
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