Stoke Therapeutics (NASDAQ:STOK) stock is soaring higher on Tuesday after the early-stage biopharmaceutical company posted positive clinical trial results.
The new data comes from two open-label Phase 1/2a studies and two open-label extension (OLE) studies. The targets of these were children ages two to 18 with Dravet syndrome.
The patients in these studies were treated with STK-001 and saw clinically meaningful effects. The drug was able to do this while being well tolerated during the studies.
As a result, the Food and Drug Administration (FDA) has cleared patients to receive three doses of STK-001 at 70 mg, followed by continued dosing at 45 mg. This has Stoke Therapeutics seeking a meeting with the FDA for a study using these doses.
Stoke Therapeutics CEO Edward Kaye said the following about the news:
“STK-001 is the first medicine in development to demonstrate substantial and durable reductions in seizure frequency and improvements in multiple measures of cognition and behavior. These effects were observed in patients who were already taking the best available anti-seizure medicines, which confirms our highly differentiated mechanism of action and approach to treating this disease.”
How This Affects STOK Stock
With this news comes heavy trading of STOK shares on Tuesday. That has more than 1.4 million shares changing hands. This is already well above its daily average trading volume of about 258,000 shares.
STOK stock is up 98.5% as of Tuesday morning.
Investors can find more of the latest stock market stories below!
We have all of the hottest stock market news ready to go on Tuesday! That includes the biggest pre-market stock movers, the latest earnings reports and more. All of that is available at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
