06:01 PM EDT, 03/26/2024 (MT Newswires) -- Stoke Therapeutics ( STOK ) late Tuesday disclosed plans to sell up to $75 million of its common shares through a public stock offering, subject to market and other conditions.

The biotechnology company also expects to provide underwriters with a 30-day option to buy up to an additional 15% of Stoke shares to cover potential over-allotments.

Net proceeds, together with existing cash, will be used for research, clinical testing and development of its product candidates, the company said.

Stoke shares were more than 5% higher in after-hours trading.

Price: 10.84, Change: +0.55, Percent Change: +5.34