Bullish on STOK

Here's why I'm bullish on STOK

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Stoke Therapeutics, Inc.STOK – $4.18 / share

Noteables

1. More cash on hand than total market cap as of 11/23/23 ($243M vs $186M)
   a) Enough cash on hand to fund operations through end of 2025
   b) Minimal debt; debt/equity of only 1.92%
   c) Largest expense continues to be R&D
2. Global antiepileptic drugs market size values at $16.5B in 2023 with expected growth to $22.37B by 2030
   a) Ongoing clinical development of STK-001 which has the potential to be the first disease-modifying treatment for Dravet syndrome (genetic epilepsy)
   b) Additional research data to be shown in Q1-24 with details on Phase 3 of study to be released Q2-24
3. Based on 13F filings, estimate major institution avg purchase price to be ~$21/share which is 5x the current price
4. On paper, 16% of free float is shorted
   a) Minimum volume being traded, would shorts 30 days to cover based on avg trading volume
5. Roderick Wong owns a 10% stake, and that's one cool fucking name

Balance Sheet
Total Cash (mrq) 214.72M
Total Debt (mrq) 3.32M
Total Debt/Equity (mrq) 1.92%

Market Cap 186.6M