Company profile

Ticker
STOK
Exchange
CEO
Edward M. Kaye
Employees
Incorporated in
Location
Fiscal year end
Former names
ASOthera Pharmaceuticals, Inc.
SEC CIK
IRS number
471144582

STOK stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

15 May 20
4 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Net income -11.04M -10.16M -8.6M -7.82M
Diluted EPS -0.34 -0.31 -0.26 -1.54
Operating income -11.74M -11.07M -9.84M -8.45M
Net change in cash -11.18M -10.58M -9.63M 144.03M
Cash on hand 211.29M 222.47M 233.05M 242.68M
Annual (USD) Dec 19 Dec 18
Net income -32.33M -12.52M
Diluted EPS -1.8 -17.65
Operating income -35.68M -12.78M
Net change in cash 117.07M
Cash on hand 222.47M 105.4M

Financial data from company earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
1 Jul 20 Huw M. Nash Common Stock Sell Dispose S Yes 23.1494 3,800 87.97K 0
1 Jul 20 Huw M. Nash Common Stock Option exercise Aquire M No 2.19 3,800 8.32K 3,800
1 Jul 20 Huw M. Nash Employee Stock Option Common Stock Option exercise Dispose M No 2.19 3,800 8.32K 224,911
3 Jun 20 Burstein Jennifer Director Stock Option Common Stock Grant Aquire A No 26.53 14,777 392.03K 14,777
3 Jun 20 Levin Arthur A Director Stock Option Common Stock Grant Aquire A No 26.53 14,777 392.03K 14,777
3 Jun 20 Krainer Adrian R. Director Stock Option Common Stock Grant Aquire A No 26.53 14,777 392.03K 14,777
13F holders
Current Prev Q Change
Total holders 66 64 +3.1%
Opened positions 11 14 -21.4%
Closed positions 9 3 +200.0%
Increased positions 29 27 +7.4%
Reduced positions 15 11 +36.4%
13F shares
Current Prev Q Change
Total value 910.43M 983.89M -7.5%
Total shares 34.54M 33.48M +3.2%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Apple Tree Partners IV 16.79M $384.42M 0.0%
RTW Investments 3.54M $81.16M 0.0%
Redmile 2.17M $49.6M +112.2%
Cormorant Asset Management 1.71M $39.15M -4.4%
Gilder Gagnon Howe & Co 1.69M $38.63M -7.7%
BLK BlackRock 1.37M $31.39M +49.1%
Ra Capital Management 1.12M $25.65M 0.0%
FHI Federated Hermes 830.4K $19.02M +7.4%
Vanguard 795.99K $18.23M +3.0%
Perceptive Advisors 671.98K $15.39M 0.0%
Largest transactions
Shares Bought/sold Change
Redmile 2.17M +1.15M +112.2%
JHG Janus Henderson 530.59K -588.25K -52.6%
BLK BlackRock 1.37M +451.36K +49.1%
Artal 250K +250K NEW
Sphera Funds Management 27.25K -229.13K -89.4%
Millennium Management 113.49K -208.89K -64.8%
Adage Capital Partners GP, L.L.C. 200K +200K NEW
Lord, Abbett & Co. 182.46K +182.46K NEW
American Century Companies 0 -143.33K EXIT
Gilder Gagnon Howe & Co 1.69M -140.14K -7.7%

Financial report summary

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Risks
  • Risks related to product development and regulatory approval
  • We are early in our development efforts. If we are unable to develop, obtain regulatory approval for and commercialize STK-001 and our future product candidates, or if we experience significant delays in doing so, our business will be materially harmed.
  • We have not tested any of our product candidates in clinical trials. Success in early preclinical studies or clinical trials may not be indicative of results obtained in later preclinical studies and clinical trials.
  • Even if we complete the necessary preclinical studies and clinical trials, we cannot predict when, or if, we will obtain regulatory approval to commercialize a product candidate and the approval may be for a narrower indication than we seek.
  • The ongoing COVID-19 pandemic may, directly or indirectly, adversely affect our business, results of operations and financial condition
  • Certain of the diseases we seek to treat have low prevalence, and it may be difficult to identify patients with these diseases, which may lead to delays in enrollment for our trials or slower commercial revenue growth if STK-001 or our future product candidates are approved.
  • We may not be successful in our efforts to use TANGO to expand our pipeline of product candidates and develop marketable products.
  • Our failure to obtain regulatory approval in international jurisdictions would prevent us from marketing our product candidates outside the United States.
  • STK-001 and our future product candidates may cause undesirable and unforeseen side effects or be perceived by the public as unsafe, which could delay or prevent their advancement into clinical trials or regulatory approval, limit the commercial potential or result in significant negative consequences.
  • A Fast Track Designation by the FDA, even if granted for STK-001 or any of our future product candidates, may not lead to a faster development or regulatory review or approval process, and does not increase the likelihood that our product candidates will receive marketing approval.
  • A Breakthrough Therapy Designation by the FDA for STK-001 or our future product candidates may not lead to a faster development or regulatory review or approval process, and it would not increase the likelihood that the product candidate will receive marketing approval.
  • Enacted and future legislation may increase the difficulty and cost for us to obtain marketing approval of and commercialize our product candidates and may affect the prices we may set.
  • A Rare Pediatric Disease designation by the FDA does not guarantee that the NDA for the product will qualify for a priority review voucher upon approval, and it does not lead to a faster development or regulatory review process, or increase the likelihood that STK-001 or any of our future product candidates will receive marketing approval.
  • The FDA’s ability to review and approve new products may be hindered by a variety of factors, including budget and funding levels, ability to hire and retain key personnel, and statutory, regulatory and policy changes.
  • Our operations and relationships with future customers, providers and third-party payors will be subject to applicable anti-kickback, fraud and abuse and other healthcare laws and regulations, which could expose us to penalties including criminal sanctions, civil penalties, contractual damages, reputational harm and diminished profits and future earnings.
  • Risks related to commercialization and manufacturing
  • The commercial success of our product candidates, including STK-001, will depend upon their degree of market acceptance by providers, patients, patient advocacy groups, third-party payors and the general medical community.
  • Current and potential future healthcare reforms may adversely impact pricing, insurance coverage and reimbursement status of newly approved products.
  • If third parties on which we depend to conduct our planned preclinical studies, or any future clinical trials, do not perform as contractually required, fail to satisfy regulatory or legal requirements or miss expected deadlines, our development program could be delayed with adverse effects on our business, financial condition, results of operations and prospects.
  • We face significant competition in an environment of rapid technological change and it is possible that our competitors may achieve regulatory approval before us or develop therapies that are more advanced or effective than ours, which may harm our business, financial condition and our ability to successfully market or commercialize STK-001 and our future product candidates.
  • We may expend our limited resources to pursue a particular product candidate or indication and fail to capitalize on product candidates or indications that may be more profitable or for which there is a greater likelihood of success.
  • We may not be successful in finding strategic collaborators for continuing development of certain of our future product candidates or successfully commercializing or competing in the market for certain indications.
  • Risks related to our financial position
  • We have a history of operating losses, and we may not achieve or sustain profitability. We anticipate that we will continue to incur losses for the foreseeable future. If we fail to obtain additional funding to conduct our planned research and development effort, we could be forced to delay, reduce or eliminate our product development programs or commercial development efforts.
  • We expect that we will need to raise additional funding before we can expect to become profitable from any potential future sales of STK-001 or our future product candidates. This additional financing may not be available on acceptable terms or at all. Failure to obtain this necessary capital when needed may force us to delay, limit or terminate our product development efforts or other operations.
  • Our limited operating history may make it difficult for you to evaluate the success of our business to date and to assess our future viability.
  • Our ability to utilize our net operating loss carryforwards may be subject to limitations.
  • Risks related to our intellectual property
  • Our success depends in part on our ability to obtain, maintain and protect our intellectual property. It is difficult and costly to protect our proprietary rights and technology, and we may not be able to ensure their protection.
  • We depend on intellectual property licensed from third parties, and our licensors may not always act in our best interest. If we fail to comply with our obligations under our intellectual property licenses, if the licenses are terminated, or if disputes regarding these licenses arise, we could lose significant rights that are important to our business.
  • Our strategy of obtaining rights to key technologies through in-licenses may not be successful.
  • If we are unable to protect the confidentiality of our trade secrets, our business and competitive position would be harmed.
  • Third-party claims of intellectual property infringement may prevent, delay or otherwise interfere with our product discovery and development efforts.
  • We may be involved in lawsuits to protect or enforce our patents or the patents of our licensors, which could be expensive, time-consuming and unsuccessful and could result in a finding that such patents are unenforceable or invalid.
  • We have limited foreign intellectual property rights and may not be able to protect our intellectual property rights throughout the world.
  • Our use of open source software could impose limitations on our ability to commercialize our product candidates.
  • Third parties may assert that our employees or consultants have wrongfully used or disclosed confidential information or misappropriated trade secrets.
  • We may not be successful in obtaining or maintaining necessary rights to product components and processes for our development pipeline through acquisitions and in-licenses.
  • Obtaining and maintaining our patent protection depends on compliance with various procedural, document submission, fee payment and other requirements imposed by governmental patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
  • Changes in patent law in the United States and in non-U.S. jurisdictions could diminish the value of patents in general, thereby impairing our ability to protect our product candidates.
  • Patent terms may be inadequate to protect our competitive position on our product candidates for an adequate amount of time.
  • If we do not obtain patent term extension and data exclusivity for any product candidates we may develop, our business may be materially harmed.
  • We are subject to a variety of privacy and data security laws, and our failure to comply with them could harm our business.
  • Risks related to employee matters, managing growth and other risks related to our business
  • We expect to expand our development and regulatory capabilities, and as a result, we may encounter difficulties in managing our growth, which could disrupt our operations.
  • Future acquisitions or strategic alliances could disrupt our business and harm our financial condition and results of operations.
  • If we fail to comply with environmental, health, and safety laws and regulations, we could become subject to fines or penalties or incur costs that could harm our business.
  • Unfavorable global economic conditions could adversely affect our business, financial condition, stock price and results of operations.
  • We, or our third party service providers, face risks related to health epidemics and other outbreaks, which could significantly disrupt our operations.
  • We or the third parties upon whom we depend may be adversely affected by natural disasters and our business continuity and disaster recovery plans may not adequately protect us from a serious disaster.
  • Our employees, principal investigators, CROs, CMOs and consultants may engage in misconduct or other improper activities, including non-compliance with regulatory standards and requirements and insider trading.
  • Our business entails a significant risk of product liability and our ability to obtain sufficient insurance coverage could have a material and adverse effect on our business, financial condition, results of operations and prospects.
  • Risks related to ownership of our common stock
  • The market price of our stock may be volatile, and you could lose all or part of your investment.
  • Our principal stockholders and management own a significant percentage of our stock and will be able to exert significant control over matters subject to stockholder approval.
  • We are a “controlled company” within the meaning of the Nasdaq listing rules and qualify for exemptions from certain corporate governance requirements. While we do not intend to rely on these exemptions, we may change our decision in the future.
  • If securities or industry analysts do not publish research or reports about our business, or if they issue an adverse or misleading opinion regarding our stock, our stock price and trading volume could decline.
  • We are an “emerging growth company” and a “smaller reporting company” and we cannot be certain if the reduced reporting requirements applicable to emerging growth companies or smaller reporting companies will make our common stock less attractive to investors.
  • Anti-takeover provisions in our charter documents and under Delaware law could make an acquisition of us, which may be beneficial to our stockholders, more difficult and may prevent attempts by our stockholders to replace or remove our current management.
  • The exclusive forum provision in our restated certificate of incorporation may limit a stockholder’s ability to bring a claim in a judicial forum that it finds favorable for disputes with us or any of our directors, officers, or other employees, which may discourage lawsuits with respect to such claims.
  • We will incur increased costs as a result of operating as a public company, and our management will be required to devote substantial time to new compliance initiatives and corporate governance practices.
  • If we fail to maintain proper and effective internal control over financial reporting in the future, our ability to produce accurate and timely financial statements could be impaired, which could harm our operating results, investors’ views of us and, as a result, the value of our common stock.
  • Because we do not anticipate paying any cash dividends on our capital stock in the foreseeable future, capital appreciation, if any, will be your sole source of gain.
  • We may be subject to securities litigation, which is expensive and could divert management attention.
Management Discussion
  • Research and development expenses were $23.8 million for the year ended December 31, 2019 as compared to $8.4 million for the year ended December 31, 2018, an increase of $15.4 million. The table below summarizes our research and development expenses:
  • The increases in research and development expenses were primarily attributable to an increase of $8.8 million on our STK-001 program, comprised primarily of third-party services and scientific consulting fees, an increase of $3.2 million in personnel costs resulting from an increase in headcount, and an increase of $3.4 million in facilities and other costs resulting from the growth in our research and development personnel.
  • General and administrative expenses were $11.9 million for the year ended December 31, 2019 as compared to $4.4 million for the year ended December 31, 2018, an increase of $7.5 million.
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