©Reuters.Stork Therapeutics (STOK) soars after 'impressive' research data
shares of Stork Therapeutics . (NASDAQ:) soared more than 80% yesterday after the company reported impressive data from its STK-001 Dravet Syndrome (DS) program.
The company is conducting two open-label Phase 1/2a studies and two open-label extension studies (OLE ) explained that new data obtained from the study “demonstrated a clinically meaningful effect.'' ”
These include “substantial and sustained reductions in seizure frequency and improvements in multiple cognitive and behavioral measures supporting potential for disease improvement.”
Following this news, TD Cowen analysts upgraded STOK to Buy from Hold, writing, “This update removes the previous data reduction in July 2023 and the clinical profile from AES (December 2023).'' “This shows a significant improvement and gives us confidence that STK-001 may be the first.” Disease-modifying therapy for DS. ”
Needham & Company analysts raised the company's price target from $14 per share to $22 per share and maintained a Buy rating. They said they believe the data fits the best-case scenario and exceeded investors' expectations.
“We believe the new data puts STOK in a good position heading into the regulatory discussions. Once the Phase 3 design is finalized and the schedule is set, we expect the stock to move higher.” said the company.