WVE Wave Life Sciences Ltd.

9.91
-1.08  -10%
Previous Close 10.99
Open 11.12
52 Week Low 6.61
52 Week High 39.98
Market Cap $354,105,646
Shares 35,732,154
Float 25,658,344
Enterprise Value $303,529,372
Volume 651,556
Av. Daily Volume 415,561
Stock charts supplied by TradingView

Upcoming Catalysts

Drug Stage Catalyst Date
WVE-120102 (PRECISION-HD2)
Huntington’s disease
Phase 1/2
Phase 1/2
Premium membership is required to view catalyst dates, analyst ratings, earnings dates and cash burn data. Click here to unlock and sign up to a 14-day FREE TRIAL.
WVE-120101 (PRECISION-HD1)
Huntington’s disease
Phase 1/2
Phase 1/2
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Quisque sapien.

Drug Pipeline

Drug Stage Notes
Suvodirsen (WVE-210201) - DYSTANCE 51
Duchenne muscular dystrophy - Exon 51
Phase 2/3
Phase 2/3
Phase 2/3 development discontinued - December 2020.
Suvodirsen (WVE-210201)
DMD Exon 51
Phase 1
Phase 1
Phase 1 development to be discontinued following interim analysis - December 16, 2019.

Latest News

  1. CAMBRIDGE, Mass., May 26, 2020 (GLOBE NEWSWIRE) -- Wave Life Sciences Ltd. (NASDAQ:WVE), a clinical-stage genetic medicines company committed to delivering life-changing treatments for people battling devastating diseases, today announced that Paul Bolno, MD, MBA, President and Chief Executive Officer, is scheduled to present virtually at the Jefferies 2020 Virtual Healthcare Conference on June 4, 2020 at 2:00 p.m. ET.

    A live webcast of the presentation will be available on the investor relations page of the Wave Life Sciences corporate website at http://ir.wavelifesciences.com. A replay of the presentation will be archived and available at that site for 90 days following the event.

    About Wave Life Sciences
    Wave Life Sciences (NASDAQ:WVE

    CAMBRIDGE, Mass., May 26, 2020 (GLOBE NEWSWIRE) -- Wave Life Sciences Ltd. (NASDAQ:WVE), a clinical-stage genetic medicines company committed to delivering life-changing treatments for people battling devastating diseases, today announced that Paul Bolno, MD, MBA, President and Chief Executive Officer, is scheduled to present virtually at the Jefferies 2020 Virtual Healthcare Conference on June 4, 2020 at 2:00 p.m. ET.

    A live webcast of the presentation will be available on the investor relations page of the Wave Life Sciences corporate website at http://ir.wavelifesciences.com. A replay of the presentation will be archived and available at that site for 90 days following the event.

    About Wave Life Sciences
    Wave Life Sciences (NASDAQ:WVE) is a clinical-stage genetic medicines company committed to delivering life-changing treatments for people battling devastating diseases. Wave aspires to develop best-in-class medicines across multiple therapeutic modalities using PRISM, the company's proprietary discovery and drug development platform that enables the precise design, optimization and production of stereopure oligonucleotides. Driven by a resolute sense of urgency, the Wave team is targeting a broad range of genetically defined diseases so that patients and families may realize a brighter future. To find out more, please visit www.wavelifesciences.com and follow Wave on Twitter @WaveLifeSci.

    Investor Contact:
    Kate Rausch
    617-949-4827
       

    Media Contact:
    Alicia Suter
    617-949-4817
     

     

    Primary Logo

    View Full Article Hide Full Article
  2. CAMBRIDGE, Mass., May 18, 2020 (GLOBE NEWSWIRE) -- Wave Life Sciences Ltd. (NASDAQ:WVE), a clinical-stage genetic medicines company committed to delivering life-changing treatments for people battling devastating diseases, announced today that it has appointed Kenneth Rhodes, PhD, as Senior Vice President, Therapeutics Discovery. In this newly created position, Dr. Rhodes will be responsible for defining the strategy and guiding discovery research to design new therapeutic candidates and advance them to the clinic, with an initial focus on neurological diseases.

    "Ken is joining Wave at an exciting time for the company, when we are making chemistry advancements and developing new modalities with our PRISM platform that have the potential to…

    CAMBRIDGE, Mass., May 18, 2020 (GLOBE NEWSWIRE) -- Wave Life Sciences Ltd. (NASDAQ:WVE), a clinical-stage genetic medicines company committed to delivering life-changing treatments for people battling devastating diseases, announced today that it has appointed Kenneth Rhodes, PhD, as Senior Vice President, Therapeutics Discovery. In this newly created position, Dr. Rhodes will be responsible for defining the strategy and guiding discovery research to design new therapeutic candidates and advance them to the clinic, with an initial focus on neurological diseases.

    "Ken is joining Wave at an exciting time for the company, when we are making chemistry advancements and developing new modalities with our PRISM platform that have the potential to expand our pipeline with innovative stereopure oligonucleotides to treat intractable neurological disorders. Ken brings decades of experience in discovering and advancing therapeutic candidates in the neurology space and his team will complement our Platform and Discovery Sciences team led by Dr. Chandra Vargeese," said Paul Bolno, MD, MBA, President and Chief Executive Officer of Wave Life Sciences. "With the addition of Ken and the establishment of a dedicated Therapeutics Discovery function, we are well-positioned to extract the most value from our evolving platform to deliver potentially transformative medicines to patients and families."  

    Dr. Rhodes will report directly to Wave's Chief Medical Officer, Michael Panzara, MD, MPH, and will lead the Therapeutics Discovery team in leveraging the capabilities of PRISM™, the company's proprietary discovery and drug development platform, to advance therapeutic programs through discovery and preclinical development. The team will also oversee the development and validation of assays and models necessary to support drug discovery, as well as expand the company's capability to identify novel therapeutic targets.

    Prior to joining Wave, Dr. Rhodes spent nearly six years as Chief Scientific Officer and co-founder of Yumanity Therapeutics, a clinical-stage biotechnology company focused on identification of novel targets, mechanisms and drug candidates for the treatment of neurodegenerative diseases. At Yumanity, he led the development and implementation of the company's integrated discovery platforms, translational research strategy and drug discovery and development activities. Prior to Yumanity, Dr. Rhodes was Vice President, Neurology Discovery at Biogen, where he led a scientific organization focused on discovery and early development of novel protein and small molecule drugs for the treatment of neurodegenerative diseases. Prior to Biogen, he spent a combined 15 years as a discovery research leader at Johnson & Johnson Pharmaceutical Research and Development, LLC (now Janssen) and Wyeth. Dr. Rhodes earned his PhD in anatomy and neurobiology at Boston University and completed postdoctoral training in systems neuroscience at the National Eye Institute, National Institutes of Health, in Bethesda, Md.

    "As someone who has dedicated their career to discovering medicines for some of the hardest-to-treat neurological diseases, I am thrilled to lead Wave's Therapeutics Discovery team, and to have the opportunity to leverage the company's unique, innovative and evolving platform capability," said Dr. Rhodes. "Today, there are still no disease modifying therapies approved for hundreds of serious neurodegenerative diseases, and I look forward to doing my part to advance Wave's mission and help patients and families who continue to wait for effective medicines."  

    Wave's current clinical pipeline includes two neurology programs in Phase 1b/2a development for Huntington's disease (HD), as well as two programs expected to transition to clinical development in the second half of 2020: a program targeting the C9orf72 gene for the potential treatment of amyotrophic lateral sclerosis and frontotemporal dementia and a third HD program. Wave is applying learnings from PRISM to design additional stereopure oligonucleotides with optimized profiles for central nervous system indications, including Parkinson's, Alzheimer's and others as part of its ongoing collaboration with Takeda.

    In connection with Dr. Rhodes joining Wave, he received a share option award to purchase 50,000 ordinary shares of Wave. The option was approved by Wave's Compensation Committee and granted to Dr. Rhodes on May 15, 2020. The option was granted outside of the Wave Life Sciences Ltd. 2014 Equity Incentive Plan, as amended, as an inducement material to Dr. Rhodes' commencing employment with Wave, in accordance with Nasdaq Stock Market Listing Rule 5635(c)(4). The option has an exercise price of $10.38 per share, the closing price of Wave's shares on the grant date. The option has a ten-year term and vests over four years with 25% of the shares vesting on May 15, 2021, and the remainder vesting in equal quarterly installments over the following three years, subject to Dr. Rhodes' continued service with Wave through the applicable vesting dates.

    About PRISM™
    PRISM is Wave Life Sciences' proprietary discovery and drug development platform that enables genetically defined diseases to be targeted with stereopure oligonucleotides across multiple therapeutic modalities. PRISM combines the company's unique ability to construct stereopure oligonucleotides with a deep understanding of how the interplay among oligonucleotide sequence, chemistry and backbone stereochemistry impacts key pharmacological properties. By exploring these interactions through iterative analysis of in vitro and in vivo outcomes and artificial intelligence-driven predictive modeling, the company continues to define design principles that are deployed across programs to rapidly develop and manufacture clinical candidates that meet pre-defined product profiles.

    About Wave Life Sciences
    Wave Life Sciences (NASDAQ:WVE) is a clinical-stage genetic medicines company committed to delivering life-changing treatments for people battling devastating diseases. Wave aspires to develop best-in-class medicines across multiple therapeutic modalities using PRISM, the company's proprietary discovery and drug development platform that enables the precise design, optimization and production of stereopure oligonucleotides. Driven by a resolute sense of urgency, the Wave team is targeting a broad range of genetically defined diseases so that patients and families may realize a brighter future. To find out more, please visit www.wavelifesciences.com and follow Wave on Twitter @WaveLifeSci.

    Forward-Looking Statements
    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements regarding Dr. Rhodes' responsibilities leading the company's newly created Therapeutics Discovery function and driving its strategy; beliefs that Dr. Rhodes' scientific and translational experience will help further the company's commitment to bring potentially transformative medicines to patients and families; and beliefs that Dr. Rhodes' ability to lead teams within the company will help extract greater value from the company's PRISM platform are forward-looking statements which involve risks and uncertainties that could cause actual results to differ materially from those discussed in such forward-looking statements. The words "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "project," "potential," "continue," "target" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, the risks and uncertainties described in the section entitled "Risk Factors" in Wave's Annual Report on Form 10-K for the year ended December 31, 2019 filed with the Securities and Exchange Commission (SEC), as amended, and in other filings Wave makes with the SEC from time to time. Wave undertakes no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.

    Investor Contact:
    Kate Rausch
    617-949-4827

    Media Contact:
    Alicia Suter
    617-949-4817
     

    Primary Logo

    View Full Article Hide Full Article
  3. Data from both PRECISION-HD clinical trials expected in 2H 2020

    Advancing clinical neurology pipeline − SNP3 and C9orf72 programs on track to initiate clinical development in 2H 2020

    First ADAR-mediated RNA-editing data in non-human primates demonstrates editing efficiencies of up to 50%

    Wave to host investor conference call and webcast at 8:30 a.m. ET today

    CAMBRIDGE, Mass., May 11, 2020 (GLOBE NEWSWIRE) -- Wave Life Sciences Ltd. (NASDAQ:WVE), a clinical-stage genetic medicines company committed to delivering life-changing treatments for people battling devastating diseases, today announced financial results for the first quarter ended March 31, 2020 and provided a business update.

    "During the last few months, our team has done a tremendous…

    Data from both PRECISION-HD clinical trials expected in 2H 2020

    Advancing clinical neurology pipeline − SNP3 and C9orf72 programs on track to initiate clinical development in 2H 2020

    First ADAR-mediated RNA-editing data in non-human primates demonstrates editing efficiencies of up to 50%

    Wave to host investor conference call and webcast at 8:30 a.m. ET today

    CAMBRIDGE, Mass., May 11, 2020 (GLOBE NEWSWIRE) -- Wave Life Sciences Ltd. (NASDAQ:WVE), a clinical-stage genetic medicines company committed to delivering life-changing treatments for people battling devastating diseases, today announced financial results for the first quarter ended March 31, 2020 and provided a business update.

    "During the last few months, our team has done a tremendous job of navigating the realities of the global COVID-19 pandemic, while making substantial progress on our critical priorities, including delivering on a key 2020 milestone, our initial in vivo RNA-editing dataset. We are working tirelessly to keep our clinical trials ongoing, our preclinical programs moving towards clinical development, and our discovery work on track, all while supporting each other and our communities during this difficult time," said Paul Bolno, MD, MBA, President and Chief Executive Officer of Wave Life Sciences.

    "Our PRECISION-HD clinical trials of WVE-120101 and WVE-120102, two investigational compounds designed to selectively target mutant HTT for the treatment of Huntington's disease, are ongoing. While the pandemic has impacted several global clinical trial sites, the commitment of our patients and investigators remains resolute, speaking to the high unmet need for disease modifying therapeutics for this devastating disease. In addition, we currently remain on track to initiate clinical development for two additional neurological programs in the second half of 2020. Lastly, today we are announcing new data from our ADAR-mediated RNA-editing program and I look forward to sharing further updates on this emerging platform capability later this year."

    Recent business highlights

    PRECISION-HD programs for Huntington's disease (HD): Wave is developing a unique portfolio of investigational stereopure oligonucleotides designed to selectively target the mutant allele of the huntingtin (mHTT) gene, while leaving the wild-type (wtHTT) relatively intact.

    PRECISION-HD2:

    • The PRECISION-HD2 Phase 1b/2a clinical trial, Wave's clinical trial investigating WVE-120102, a stereopure oligonucleotide designed to selectively target the mHTT mRNA transcript that contains the SNP rs362331 (SNP2) for HD, is ongoing.
    • Data from the 32 milligram (mg) dose cohort of the PRECISION-HD2 trial are currently expected in the second half of 2020.
    • An open-label extension (OLE) study open to patients outside of the U.S. who participated in the Phase 1b/2a PRECISION-HD2 trial is ongoing.

    PRECISION-HD1:

    • In March 2020, Wave initiated a 32 mg dose cohort in the ongoing PRECISION-HD1 Phase 1b/2a clinical trial of WVE-120101, a stereopure oligonucleotide designed to selectively target the mHTT mRNA transcript that contains the SNP rs362307 (SNP1) for HD.
    • Wave currently expects to deliver topline clinical data from the PRECISION-HD1 trial, including the 32 mg dose cohort, in the second half of 2020.
    • An open-label extension (OLE) study open to patients outside of the U.S. who participated in the Phase 1b/2a PRECISION-HD1 trial is ongoing.

    PRECISION-HD trials:

    • Wave continues to work closely with the PRECISION-HD clinical trial sites to monitor the impact of the evolving COVID-19 pandemic. If global restrictions continue or worsen, the ability to evaluate patients in both of the PRECISION-HD trials as planned may be impacted.
    • Wave is assessing the potential for a next higher dose cohort to be added to both PRECISION-HD trials.

    SNP3 program for HD: Wave is advancing a third HD program, which is designed to selectively target an undisclosed SNP on the mHTT mRNA transcript (SNP3), while leaving the wild-type (wtHTT) relatively intact.

    • Wave expects to initiate clinical development of its SNP3 program in the second half of 2020.

    C9orf72 program for ALS and FTD: Wave's C9orf72 program is designed to selectively target the transcripts containing the hexanucleotide repeat expansion (G4C2) in the C9orf72 gene.

    • Wave is advancing its C9orf72 preclinical program to potentially treat amyotrophic lateral sclerosis (ALS) and frontotemporal dementia (FTD) and expects to initiate clinical development in the second half of 2020.

    Central nervous system (CNS) programs in collaboration with Takeda: Wave is leveraging its learnings from PRISM to design additional stereopure oligonucleotides with optimized profiles for CNS indications, including Parkinson's, Alzheimer's and others, as part of its ongoing collaboration with Takeda.

    • In the first quarter, Wave achieved target validation in vivo with a lead compound for a second program and expects to achieve target validation for a third program in 2020.

    RNA editing: Wave is designing a novel RNA-editing platform capability using endogenous ADAR (adenosine deaminases acting on RNA) enzymes via free uptake (non-viral, non-LNP) of RNA-editing oligonucleotides, which has the potential to be a best-in-class RNA-editing modality.

    • Today, Wave announced it has achieved successful RNA editing of ACTB (Beta-actin) mRNA in non-human primates (NHPs) via endogenous ADARs using stereopure GalNAc-conjugated oligonucleotides. In an ongoing proof-of-concept study, Wave oligonucleotides demonstrated up to 50% A to I (G) editing of ACTB mRNA in the liver of NHPs two-days post-last dose. To the company's knowledge, these are the first publicly available data that demonstrate successful RNA editing in vivo in NHPs.
    • This RNA-editing platform is expected to be applicable for a wide range of disease targets. Wave has previously shown that its RNA-editing oligonucleotides achieved editing across multiple distinct transcripts in primary human hepatocytes and this in vitro data will also be presented at the upcoming American Society of Gene & Cell Therapy (ASGCT) Annual Meeting, being held virtually May 12 – May 15.
    • Wave expects to share additional in vivo ADAR-mediated RNA-editing data and to announce its first RNA-editing program in 2020.

    First Quarter 2020 Financial Results and Financial Guidance
    Wave reported a net loss of $47.5 million in the first quarter of 2020 as compared to $44.2 million in the same period in 2019.

    Research and development expenses were $41.2 million in the first quarter of 2020 as compared to $40.1 million in the same period in 2019. The increase in research and development expenses in the first quarter was primarily due to increased external expenses related to our clinical and preclinical activities, including our HD programs and C9orf72 program for ALS and FTD, and separation costs associated with the workforce reduction implemented in February 2020, partially offset by decreased external expenses related to our DMD programs due to our December 2019 decision to discontinue the suvodirsen program and to cease development of our other DMD programs.

    General and administrative expenses were $13.0 million in the first quarter of 2020 as compared to $10.9 million in the same period in 2019. The increase in general and administrative expenses in the first quarter of 2020 was mainly driven by separation costs associated with the workforce reduction implemented in February 2020.

    As of March 31, 2020, Wave had $120.9 million in cash and cash equivalents as compared to $147.2 million as of December 31, 2019. The decrease in cash and cash equivalents was mainly due to Wave's year-to-date net loss of $47.5 million, partially offset by the receipt of $20 million in research support funding from Takeda under our collaboration.

    Wave expects that its existing cash and cash equivalents, together with expected and committed cash from its existing collaboration, will enable Wave to fund its operating and capital expenditure requirements into the third quarter of 2021.

    Investor Conference Call and Webcast
    Wave management will host an investor conference call today at 8:30 a.m. ET to discuss the company's first quarter 2020 operating results and provide a business update. The conference call may be accessed by dialing (866) 220-8068 (domestic) or +1 (470) 495-9153 (international) and entering conference ID 5669348. The live webcast may be accessed from the investor relations section of the Wave Life Sciences corporate website at www.ir.wavelifesciences.com. Following the webcast, a replay will be available on the website.

    About PRISM
    PRISM is Wave Life Sciences' proprietary discovery and drug development platform that enables genetically defined diseases to be targeted with stereopure oligonucleotides across multiple therapeutic modalities. PRISM combines the company's unique ability to construct stereopure oligonucleotides with a deep understanding of how the interplay among oligonucleotide sequence, chemistry and backbone stereochemistry impacts key pharmacological properties. By exploring these interactions through iterative analysis of in vitro and in vivo outcomes and artificial intelligence-driven predictive modeling, the company continues to define design principles that are deployed across programs to rapidly develop and manufacture clinical candidates that meet pre-defined product profiles.

    About Wave Life Sciences
    Wave Life Sciences (NASDAQ:WVE) is a clinical-stage genetic medicines company committed to delivering life-changing treatments for people battling devastating diseases. Wave aspires to develop best-in-class medicines across multiple therapeutic modalities using PRISM, the company's proprietary discovery and drug development platform that enables the precise design, optimization and production of stereopure oligonucleotides. Driven by a resolute sense of urgency, the Wave team is targeting a broad range of genetically defined diseases so that patients and families may realize a brighter future. To find out more, please visit www.wavelifesciences.com and follow Wave on Twitter @WaveLifeSci.

    Forward-Looking Statements
    This press release contains forward-looking statements concerning our goals, beliefs, expectations, strategies, objectives and plans, and other statements that are not necessarily based on historical facts, including statements regarding the following, among others: the anticipated commencement, patient enrollment, data readouts and completion of our clinical trials, and the announcement of such events; the protocol, design and endpoints of our ongoing and planned clinical trials; the future performance and results of our programs in clinical trials; future preclinical activities and programs; regulatory submissions; the progress and potential benefits of our collaborations with partners; the potential of our in vitro and in vivo preclinical data to predict the behavior of our compounds in humans; our identification of future candidates and their therapeutic potential; the anticipated therapeutic benefits of our potential therapies compared to others; our ability to design compounds using multiple modalities and the anticipated benefits of that model; the anticipated benefits of our proprietary manufacturing processes and our internal manufacturing capabilities; the potential benefits of PRISM and our stereopure oligonucleotides compared with stereorandom oligonucleotides; the benefit of nucleic acid therapeutics generally; the strength of our intellectual property; and the anticipated duration of our cash runway. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including the following: our ability to finance our drug discovery and development efforts and to raise additional capital when needed; the ability of our preclinical programs to produce data sufficient to support our clinical trial applications and the timing thereof; our ability to maintain the company infrastructure and personnel needed to achieve our goals; the impact of the COVID-19 global pandemic on our business the clinical results of our programs, which may not support further development of product candidates; actions of regulatory agencies, which may affect the initiation, timing and progress of clinical trials; our effectiveness in managing future clinical trials and regulatory interactions; the effectiveness of PRISM; the continued development and acceptance of oligonucleotides as a class of medicines; our ability to demonstrate the therapeutic benefits of our candidates in clinical trials, including our ability to develop candidates across multiple therapeutic modalities; our dependence on third parties, including contract research organizations, contract manufacturing organizations, collaborators and partners; our ability to manufacture or contract with third parties to manufacture drug material to support our programs and growth; our ability to obtain, maintain and protect our intellectual property; our ability to enforce our patents against infringers and defend our patent portfolio against challenges from third parties; and competition from others developing therapies for similar indications, as well as the information under the caption "Risk Factors" contained in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) and in other filings we make with the SEC from time to time. We undertake no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.


    WAVE LIFE SCIENCES LTD.
    UNAUDITED CONSOLIDATED BALANCE SHEETS

    (In thousands, except share amounts)

      March 31, 2020     December 31, 2019  
    Assets              
    Current assets:              
    Cash and cash equivalents $ 120,949     $ 147,161  
    Current portion of accounts receivable         20,000  
    Prepaid expenses   9,999       9,626  
    Other current assets   18,843       8,689  
    Total current assets   149,791       185,476  
    Long-term assets:              
    Accounts receivable, net of current portion   30,000       30,000  
    Property and equipment, net   34,986       36,368  
    Operating lease right-of-use assets   17,659       18,101  
    Restricted cash   3,649       3,647  
    Other assets   2,487       10,658  
    Total long-term assets   88,781       98,774  
    Total assets $ 238,572     $ 284,250  
    Liabilities, Series A preferred shares and shareholders' equity              
    Current liabilities:              
    Accounts payable $ 16,486     $ 9,073  
    Accrued expenses and other current liabilities   10,994       16,185  
    Current portion of deferred revenue   88,044       89,652  
    Current portion of operating lease liability   3,357       3,243  
    Total current liabilities   118,881       118,153  
    Long-term liabilities:              
    Deferred revenue, net of current portion   60,913       63,466  
    Operating lease liability, net of current portion   28,425       29,304  
    Other liabilities   1,621       1,721  
    Total long-term liabilities $ 90,959     $ 94,491  
    Total liabilities $ 209,840     $ 212,644  
    Series A preferred shares, no par value; 3,901,348 shares issued and outstanding at March 31, 2020 and December 31, 2019 $ 7,874     $ 7,874  
    Shareholders' equity:              
    Ordinary shares, no par value; 34,601,582 and 34,340,690 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively $ 540,161     $ 539,547  
    Additional paid-in capital   61,276       57,277  
    Accumulated other comprehensive income   273       267  
    Accumulated deficit   (580,852 )     (533,359 )
    Total shareholders' equity $ 20,858     $ 63,732  
    Total liabilities, Series A preferred shares and shareholders' equity $ 238,572     $ 284,250  

    The accompanying notes are an integral part of the unaudited consolidated financial statements.


    WAVE LIFE SCIENCES LTD.
    UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

    (In thousands, except share and per share amounts)

      Three Months Ended March 31,  
      2020     2019  
    Revenue $ 4,161     $ 3,026  
    Operating expenses:              
    Research and development   41,158       40,113  
    General and administrative   12,996       10,901  
    Total operating expenses   54,154       51,014  
    Loss from operations   (49,993 )     (47,988 )
    Other income, net:              
    Dividend income   385       1,424  
    Interest income, net   3       11  
    Other income (expense), net   2,112       2,353  
    Total other income, net   2,500       3,788  
    Loss before income taxes   (47,493 )     (44,200 )
    Income tax provision          
    Net loss $ (47,493 )   $ (44,200 )
    Net loss per share attributable to ordinary shareholders—basic and diluted $ (1.38 )   $ (1.36 )
    Weighted-average ordinary shares used in computing net loss per share attributable to ordinary shareholders—basic and diluted   34,461,505       32,597,158  
                   
    Other comprehensive income (loss):              
    Net loss $ (47,493 )   $ (44,200 )
    Foreign currency translation   6       97  
    Comprehensive loss $ (47,487 )   $ (44,103 )

    The accompanying notes are an integral part of the unaudited consolidated financial statements.


    Investor Contact:

    Kate Rausch
    617-949-4827

    Media Contact:
    Alicia Suter
    617-949-4817
     

    Primary Logo

    View Full Article Hide Full Article
  4. CAMBRIDGE, Mass., April 29, 2020 (GLOBE NEWSWIRE) -- Wave Life Sciences Ltd. (NASDAQ:WVE), a clinical-stage genetic medicines company committed to delivering life-changing treatments for people battling devastating diseases, announced today that management will host a live webcast and conference call at 8:30 a.m. ET on Monday, May 11, 2020, to discuss its first quarter 2020 financial results and provide a business update.

    The webcast of the conference call may be accessed by visiting the "Events" section in the Investor Relations page of the Wave Life Sciences website at www.wavelifesciences.com. The live teleconference may be accessed by dialing (866) 220-8068 (domestic) or (470) 495-9153 (international) and entering conference ID: 5669348…

    CAMBRIDGE, Mass., April 29, 2020 (GLOBE NEWSWIRE) -- Wave Life Sciences Ltd. (NASDAQ:WVE), a clinical-stage genetic medicines company committed to delivering life-changing treatments for people battling devastating diseases, announced today that management will host a live webcast and conference call at 8:30 a.m. ET on Monday, May 11, 2020, to discuss its first quarter 2020 financial results and provide a business update.

    The webcast of the conference call may be accessed by visiting the "Events" section in the Investor Relations page of the Wave Life Sciences website at www.wavelifesciences.com. The live teleconference may be accessed by dialing (866) 220-8068 (domestic) or (470) 495-9153 (international) and entering conference ID: 5669348. Following the conference call, an archived version of the call will be available on the website. 

    About Wave Life Sciences
    Wave Life Sciences (NASDAQ:WVE) is a clinical-stage genetic medicines company committed to delivering life-changing treatments for people battling devastating diseases. Wave aspires to develop best-in-class medicines across multiple therapeutic modalities using PRISM, the company's proprietary discovery and drug development platform that enables the precise design, optimization and production of stereopure oligonucleotides. Driven by a resolute sense of urgency, the Wave team is targeting a broad range of genetically defined diseases so that patients and families may realize a brighter future. To find out more, please visit www.wavelifesciences.com and follow Wave on Twitter @WaveLifeSci.

    Investor Contact:
    Kate Rausch
    617-949-4827
      

    Media Contact:
    Alicia Suter
    617-949-4817
     

    Primary Logo

    View Full Article Hide Full Article
  5. Innovative pipeline of stereopure oligonucleotides focused on CNS diseases

    32 mg data from both PRECISION-HD clinical trials on track for 2H 2020

    Two additional CNS programs − SNP3 and C9orf72 − on track to initiate clinical development in 2H 2020

    Wave to host investor conference call and webcast at 8:00 a.m. ET today

    CAMBRIDGE, Mass., March 02, 2020 (GLOBE NEWSWIRE) -- Wave Life Sciences Ltd. (NASDAQ:WVE), a clinical-stage genetic medicines company committed to delivering life-changing treatments for people battling devastating diseases, today announced financial results for the fourth quarter and full year ended December 31, 2019 and provided a business update.

    "We continue to advance our innovative, CNS-focused pipeline of stereopure oligonucleotides…

    Innovative pipeline of stereopure oligonucleotides focused on CNS diseases

    32 mg data from both PRECISION-HD clinical trials on track for 2H 2020

    Two additional CNS programs − SNP3 and C9orf72 − on track to initiate clinical development in 2H 2020

    Wave to host investor conference call and webcast at 8:00 a.m. ET today

    CAMBRIDGE, Mass., March 02, 2020 (GLOBE NEWSWIRE) -- Wave Life Sciences Ltd. (NASDAQ:WVE), a clinical-stage genetic medicines company committed to delivering life-changing treatments for people battling devastating diseases, today announced financial results for the fourth quarter and full year ended December 31, 2019 and provided a business update.

    "We continue to advance our innovative, CNS-focused pipeline of stereopure oligonucleotides across Huntington's disease, amyotrophic lateral sclerosis, frontotemporal dementia and other central nervous system diseases. Despite the disappointment of discontinuing our Duchenne program last year, we are advancing more than a dozen programs across discovery and development with several exciting milestones ahead in 2020," said Paul Bolno, MD, MBA, President and Chief Executive Officer of Wave Life Sciences. "In December 2019, we shared the first clinical results from an allele-selective program for Huntington's disease. Initial results from PRECISION-HD2 demonstrated a reduction in mutant huntingtin protein, with a safety profile that supports the addition of a higher dose cohort, and no change in total huntingtin protein as compared to placebo. In the second half of 2020, we expect to initiate clinical development for our SNP3 program as well as our C9orf72 program, both of which have benefitted from novel advances in our PRISM platform. In addition, we are pleased by recent progress across multiple CNS programs we are working on in collaboration with Takeda. Finally, we presented proof-of-concept data for our RNA-editing program in January, which demonstrated endogenous ADAR engagement in vitro. We expect to have initial in vivo results in 2020, and we look forward to sharing further updates on this exciting new modality."

    Business update
    Wave is building a leading genetic medicines company focused on realizing the potential of stereopure oligonucleotides in diseases of the central nervous system, liver, and eye. Wave's pipeline includes more than a dozen programs across discovery and development, spans multiple modalities and targets, and is intended to deliver transformational medicines to patients and families.

    Central nervous system (CNS) diseases
                 
    Updates for PRECISION-HD clinical trials of WVE-120101 and WVE-120102 in Huntington's disease

    • WVE-120101 and WVE-120102 allele-selectivity: Investigational WVE-120101 and WVE-120102 are currently the only compounds in clinical development designed to selectively target the mutant allele of the huntingtin (mHTT) gene, while leaving the wild-type (wtHTT) relatively intact. The wtHTT protein is important for neuronal function, and there is increasing evidence that it may be neuroprotective in an adult brain. Additionally, Huntington's disease (HD) may be caused by a dominant gain of function in mHTT protein and a concurrent loss of function of wtHTT protein may be an important component of the pathophysiology of HD. Wave's allele-selective approach may also enable the company to address the pre-manifest, or asymptomatic, HD patient population in the future.
    • PRECISION-HD2: In January 2020, Wave initiated dosing in a 32 milligram (mg) dose cohort in the PRECISION-HD2 Phase 1b/2a clinical trial of WVE-120102, a stereopure oligonucleotide designed to selectively target the mutant huntingtin (mHTT) mRNA transcript of SNP2 for HD. Wave is also assessing the potential for a next higher dose cohort to be added to the trial.
    • Wave's ability to advance to higher dose cohorts was supported by initial PRECISION-HD2 clinical data, announced in December 2019, that demonstrated a statistically significant reduction of 12.4% in mHTT in cerebrospinal fluid (CSF) in an analysis comparing all patients treated with WVE-120102 to placebo. An analysis to assess a dose response across treatment groups (2, 4, 8 or 16 mg) suggested a statistically significant response in mHTT reduction at the highest doses tested (p=0.03). WVE-120102 was generally safe and well tolerated across all cohorts. There was no difference in total huntingtin protein compared to placebo.
    • Data from the 32 mg dose cohort of the PRECISION-HD2 trial are expected in the second half of 2020.
    • Enrollment continues in an open-label extension (OLE) study open to patients outside of the U.S. who participated in the Phase 1b/2a PRECISION-HD2 trial.
    • PRECISION-HD1: The PRECISION-HD1 Phase 1b/2a clinical trial, Wave's clinical trial investigating WVE-120101, a stereopure oligonucleotide designed to selectively target the mHTT mRNA transcript of SNP1 for HD, is ongoing. Wave expects to initiate a 32 mg cohort to the PRECISION-HD1 trial and deliver topline clinical data from the PRECISION-HD1 trial, including a 32 mg dose cohort, in the second half of 2020.
    • In February 2020, Wave initiated an OLE study open to patients outside of the U.S. who participated in the Phase 1b/2a PRECISION-HD1 trial.

    Advancing third allele-selective Huntington's disease program (SNP3) towards clinical development.

    • In February 2020, at the 15th annual CHDI Foundation Huntington's Disease Therapeutics Conference, Wave presented preclinical data for its investigational SNP3 program. SNP3 represents ~40% of the HD population and, with overlap, up to 80% of the HD population carries at least one of SNP1, SNP2, and/or SNP3. In patient-derived neurons, Wave's allele-selective SNP3 compounds demonstrated more potent knockdown of mutant HTT in vitro than a pan-silencing active comparator. In addition, Wave's SNP3 compounds demonstrated potent and durable knockdown of mutant HTT in a transgenic mouse model for up to 12 weeks.
    • Wave expects to initiate clinical development of its SNP3 program in the second half of 2020.

    Advancing C9orf72 preclinical program for ALS and FTD towards clinical development

    • Wave is advancing its C9orf72 preclinical program to potentially treat amyotrophic lateral sclerosis (ALS) and frontotemporal dementia (FTD) and expects to initiate clinical development in the second half of 2020.Wave's C9orf72 program preferentially targets the transcript containing the hexanucleotide repeat expansion (G4C2) in the C9orf72 gene.
    • Wave's C9orf72 program led to substantial reduction of repeat containing C9orf72 transcripts and dipeptides in both the spinal cord and cortex of a transgenic mouse model, while total C9orf72 protein was preserved.

    Pipeline of CNS programs progressing in collaboration with Takeda

    • The company is leveraging its learnings from PRISM to design additional stereopure oligonucleotides with optimized profiles for CNS indications, including Parkinson's, Alzheimer's and others as part of its ongoing collaboration with Takeda.

    Ophthalmologic diseases

    • In 2019, Wave's discovery efforts yielded two preclinical ophthalmology programs. The first program uses stereopure oligonucleotides to promote USH2A exon 13 skipping to address Usher Syndrome Type 2A. The second program uses stereopure oligonucleotides to selectively silence RhoP23H transcripts to address retinitis pigmentosa.  

    RNA-editing

    • Wave is leveraging its proprietary PRISM platform to design novel RNA-editing therapeutics. Wave's technology uses endogenous ADAR (adenosine deaminases acting on RNA) enzymes via non-viral, free uptake of RNA editing oligonucleotides in a variety of primary human cell types in vitro with high efficiencies and has potential to be a best-in-class RNA editing modality.
    • In January 2020, at the 1st International Conference on Base Editing – Enzymes and Applications (Deaminet 2020), Wave presented a poster titled "RNA Editing via Endogenous ADARs Using Stereopure Oligonucleotides." Wave observed preclinical editing efficiencies of up to 70% in primary hepatocytes and approximately 50% in bronchial epithelial cells without the need for viral or lipid nanoparticle (LNP) delivery vehicles. In addition, stereopure oligonucleotides achieved greater ADAR-mediated editing compared to stereorandom oligonucleotides across several distinct RNA transcripts in primary human hepatocytes, which validates that the technology is applicable across multiple sequences.
    • Wave expects to share in vivo RNA editing data in 2020.

    Neuromuscular disease

    • In December 2019, Wave announced the discontinuation of suvodirsen development for patients with Duchenne muscular dystrophy (DMD). Wave plans to present additional findings from the Phase 1 open-label extension study of suvodirsen at the 2020 MDA Clinical and Scientific Conference in Orlando, Florida, which will take place from March 20 through March 25, 2020.

    Fourth Quarter and Full Year 2019 Financial Results and Financial Guidance
    Wave reported a net loss of $56.8 million in the fourth quarter of 2019 as compared to $37.9 million in the same period in 2018. The company reported a net loss of $193.6 million for the year ended December 31, 2019 as compared to $146.7 million for the year ended December 31, 2018. The increase in net loss in the fourth quarter and the year ended December 31, 2019 was largely driven by increased research and development efforts and continued organizational growth, both of which included costs and efforts, including manufacturing, in preparation for the potential commercialization of suvodirsen. 

    Research and development expenses were $49.1 million in the fourth quarter of 2019 as compared to $39.8 million in the same period in 2018. Research and development expenses for the full year were $175.4 million as compared to $134.4 million for the prior year. The increase in research and development expenses in the fourth quarter and full year was primarily due to increased external expenses related to our clinical activities, including our HD programs and our now discontinued DMD programs, as well as increased investments in PRISM and other research and development expenses.

    General and administrative expenses were $13.8 million for the fourth quarter of 2019 as compared to $12.8 million for the same period in the prior year. General and administrative expenses were $48.9 million in 2019 as compared to $39.5 million in 2018. The increase in general and administrative expenses in the fourth quarter and full year was mainly driven by continued organizational growth to support Wave's 2019 corporate goals.

    Wave ended 2019 with $147.2 million in cash and cash equivalents as compared to $174.8 million as of December 31, 2018. The decrease in cash and cash equivalents was primarily the result of Wave's year-to-date net loss of $193.6 million, partially offset by the $161.8 million in net proceeds from the January 2019 follow-on offering.

    Wave expects that its existing cash and cash equivalents, together with expected and committed cash from existing collaborations, will enable Wave to fund its operating and capital expenditure requirements into the third quarter of 2021.

    Investor Conference Call and Webcast
    Wave management will host an investor conference call today at 8:00 a.m. ET to discuss the company's fourth quarter and full year 2019 operating results and provide an update on the company's development programs. The conference call may be accessed by dialing (866) 220-8068 (domestic) or +1 (470) 495-9153 (international) and entering conference ID 3994836. The live webcast may be accessed by visiting the investor relations section of the Wave Life Sciences corporate website at www.ir.wavelifesciences.com. Following the webcast, a replay will be available on the website.

    About PRISM
    PRISM is Wave Life Sciences' proprietary discovery and drug development platform that enables genetically defined diseases to be targeted with stereopure oligonucleotides across multiple therapeutic modalities. PRISM combines the company's unique ability to construct stereopure oligonucleotides with a deep understanding of how the interplay among oligonucleotide sequence, chemistry and backbone stereochemistry impacts key pharmacological properties. By exploring these interactions through iterative analysis of in vitro and in vivo outcomes and artificial intelligence-driven predictive modeling, the company continues to define design principles that are deployed across programs to rapidly develop and manufacture clinical candidates that meet pre-defined product profiles.

    About Wave Life Sciences
    Wave Life Sciences (NASDAQ:WVE) is a clinical-stage genetic medicines company committed to delivering life-changing treatments for people battling devastating diseases. Wave aspires to develop best-in-class medicines across multiple therapeutic modalities using PRISM, the company's proprietary discovery and drug development platform that enables the precise design, optimization and production of stereopure oligonucleotides. Driven by a resolute sense of urgency, the Wave team is targeting a broad range of genetically defined diseases so that patients and families may realize a brighter future. To find out more, please visit www.wavelifesciences.com and follow Wave on Twitter @WaveLifeSci.

    Forward-Looking Statements

    This press release contains forward-looking statements concerning our goals, beliefs, expectations, strategies, objectives and plans, and other statements that are not necessarily based on historical facts, including statements regarding the following, among others: the anticipated commencement, patient enrollment, data readouts and completion of our clinical trials, and the announcement of such events; the protocol, design and endpoints of our ongoing and planned clinical trials; the future performance and results of our programs in clinical trials; future preclinical activities and programs; regulatory submissions; the progress and potential benefits of our collaborations with partners; the potential of our in vitro and in vivo preclinical data to predict the behavior of our compounds in humans; our identification of future candidates and their therapeutic potential; the anticipated therapeutic benefits of our potential therapies compared to others; our ability to design compounds using multiple modalities and the anticipated benefits of that model; the anticipated benefits of our proprietary manufacturing processes and our internal manufacturing capabilities; the potential benefits of PRISM and our stereopure oligonucleotides compared with stereorandom oligonucleotides; the benefit of nucleic acid therapeutics generally; the strength of our intellectual property; and the anticipated duration of our cash runway. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including the following: our ability to finance our drug discovery and development efforts and to raise additional capital when needed; the ability of our preclinical programs to produce data sufficient to support our clinical trial applications and the timing thereof; our ability to maintain the company infrastructure and personnel needed to achieve our goals; the clinical results of our programs, which may not support further development of product candidates; actions of regulatory agencies, which may affect the initiation, timing and progress of clinical trials; our effectiveness in managing future clinical trials and regulatory interactions; the effectiveness of PRISM; the continued development and acceptance of oligonucleotides as a class of medicines; our ability to demonstrate the therapeutic benefits of our candidates in clinical trials, including our ability to develop candidates across multiple therapeutic modalities; our dependence on third parties, including contract research organizations, contract manufacturing organizations, collaborators and partners; our ability to manufacture or contract with third parties to manufacture drug material to support our programs and growth; our ability to obtain, maintain and protect our intellectual property; our ability to enforce our patents against infringers and defend our patent portfolio against challenges from third parties; and competition from others developing therapies for similar indications, as well as the information under the caption "Risk Factors" contained in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) and in other filings we make with the SEC from time to time. We undertake no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.

    WAVE LIFE SCIENCES LTD.
    UNAUDITED CONSOLIDATED BALANCE SHEETS
    (In thousands, except share amounts)

        December 31, 2019     December 31, 2018
    Assets              
    Current assets:              
        Cash and cash equivalents   $ 147,161     $ 174,819
        Current portion of accounts receivable     20,000       10,000
        Prepaid expenses     9,626       6,587
        Other current assets     8,689       10,867
    Total current assets     185,476       202,273
    Long-term assets:              
        Accounts receivable, net of current portion     30,000       50,000
        Property and equipment, net     36,368       39,931
        Operating lease right-of-use assets     18,101      
        Restricted cash     3,647       3,625
        Other assets     10,658       111
    Total long-term assets     98,774       93,667
    Total assets   $ 284,250     $ 295,940
    Liabilities, Series A preferred shares and shareholders' equity              
    Current liabilities:              
        Accounts payable   $ 9,073     $ 13,089
        Accrued expenses and other current liabilities     16,185       14,736
        Current portion of deferred rent           115
        Current portion of deferred revenue     89,652       100,945
        Current portion of lease incentive obligation           1,156
        Current portion of operating lease liability     3,243      
    Total current liabilities     118,153       130,041
    Long-term liabilities:              
        Deferred rent, net of current portion           5,132
        Deferred revenue, net of current portion     63,466       68,156
        Lease incentive obligation, net of current portion           9,247
        Operating lease liability, net of current portion     29,304      
        Other liabilities     1,721       2,142
    Total long-term liabilities     94,491       84,677
    Total liabilities   $ 212,644     $ 214,718
    Series A preferred shares, no par value; 3,901,348 shares issued and outstanding at December 31, 2019 and 2018   $ 7,874     $ 7,874
    Shareholders' equity:              
        Ordinary shares, no par value; 34,340,690 and 29,472,197 shares issued     539,547       375,148
          and outstanding at December 31, 2019 and 2018, respectively              
        Additional paid-in capital     57,277       37,768
        Accumulated other comprehensive income     267       153
        Accumulated deficit     (533,359 )     (339,721)
    Total shareholders' equity     63,732       73,348
    Total liabilities, Series A preferred shares and shareholders' equity   $ 284,250     $ 295,940



    WAVE LIFE SCIENCES LTD.

    UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
    (In thousands, except share and per share amounts)

        Three Months Ended December 31,     Twelve Months Ended December 31,  
        2019     2018     2019     2018  
    Revenue   $ 2,400     $ 3,620     $ 15,983     $ 14,414  
    Operating expenses:                                
        Research and development     49,128       39,809       175,431       134,428  
        General and administrative     13,805       12,754       48,869       39,509  
    Total operating expenses     62,933       52,563       224,300       173,937  
    Loss from operations     (60,533 )     (48,943 )     (208,317 )     (159,523 )
    Other income, net:                                
        Dividend income     736       1,014       4,912       3,368  
        Interest income, net     4       6       29       22  
        Other income (expense), net     3,023       9,933       9,738       9,549  
    Total other income, net     3,763       10,953       14,679       12,939  
    Loss before income taxes     (56,770 )     (37,990 )     (193,638 )     (146,584 )
    Income tax provision           103             (69 )
    Net loss   $ (56,770 )   $ (37,887 )   $ (193,638 )   $ (146,653 )
    Net loss per share attributable to ordinary shareholders—basic and diluted   $ (1.65 )   $ (1.29 )   $ (5.72 )   $ (5.06 )
    Weighted-average ordinary shares used in computing net loss per share attributable to                                
      ordinary shareholders—basic and diluted      34,303,975        29,463,131        33,866,487        28,970,404  
                                     
    Other comprehensive income (loss):                                
    Net loss   $ (56,770 )   $ (37,887 )   $ (193,638 )   $ (146,653 )
        Foreign currency translation     (15 )     (28 )     114       37  
    Comprehensive loss   $ (56,785 )   $ (37,915 )   $ (193,524 )   $ (146,616 )


    Investor Contact:

    Kate Rausch
    617-949-4827

    Media Contact:
    Alicia Suter
    617-949-4817

    Primary Logo

    View Full Article Hide Full Article
View All Wave Life Sciences Ltd. News