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Wave Life Sciences Reports Fourth Quarter and Full Year 2024 Financial Results and Provides Business Update
WVEWave Life Sciences .(WVE) Newsfilter·2025-03-04 12:30

Core Insights - Wave Life Sciences Ltd. has initiated dosing in the INLIGHT trial for WVE-007, targeting obesity, with clinical data expected in the second half of 2025 [2][3] - The company is advancing its clinical studies for WVE-006 in Alpha-1 antitrypsin deficiency (AATD) and WVE-N531 in Duchenne muscular dystrophy (DMD), with significant data anticipated in 2025 [2][3][6] - Financially, Wave reported cash and cash equivalents of 302.1millionasofDecember31,2024,providingarunwayinto2027[8][11]GalNAc−siRNAPrograms−WVE−007isdesignedtosilenceINHBEmRNA,showingpotentialforsignificantweightlosscomparabletosemaglutide,withasingledoseleadingtoweightlosswithoutmuscleloss[3]−TheINLIGHTtrialisafirst−in−human,placebo−controlledstudyassessingsafety,tolerability,andmetabolichealthinadultswithobesity,withenrollmentinthefirstsingledosecohortcompleted[3]−ExpectedclinicaldatafromINLIGHTwillincludesafetyandbiomarkersreflectiveofhealthyweightloss,anticipatedinthesecondhalfof2025[3]AATDandRNAEditingPrograms−WVE−006isaGalNAc−conjugatedoligonucleotidetargetingAATD,withongoingmulti−dosingintheRestorAATion−2clinicaltrial[6]−Initialproof−of−mechanismdatafromWVE−006demonstratedameancirculatingwild−typeM−AATproteinlevelof6.9micromolar,representingover60302.1 million as of December 31, 2024, providing a runway into 2027 [8][11] GalNAc-siRNA Programs - WVE-007 is designed to silence INHBE mRNA, showing potential for significant weight loss comparable to semaglutide, with a single dose leading to weight loss without muscle loss [3] - The INLIGHT trial is a first-in-human, placebo-controlled study assessing safety, tolerability, and metabolic health in adults with obesity, with enrollment in the first single dose cohort completed [3] - Expected clinical data from INLIGHT will include safety and biomarkers reflective of healthy weight loss, anticipated in the second half of 2025 [3] AATD and RNA Editing Programs - WVE-006 is a GalNAc-conjugated oligonucleotide targeting AATD, with ongoing multi-dosing in the RestorAATion-2 clinical trial [6] - Initial proof-of-mechanism data from WVE-006 demonstrated a mean circulating wild-type M-AAT protein level of 6.9 micromolar, representing over 60% of total AAT [6] - Multi-dose data for WVE-006 is expected to be shared in 2025, with the potential for extended dosing intervals [6] DMD Programs - WVE-N531 is an exon skipping oligonucleotide for DMD, with ongoing trials showing positive interim results, including a mean dystrophin expression of 9.0% [6] - The FORWARD-53 trial is evaluating the safety and efficacy of WVE-N531, with 48-week data and regulatory feedback expected in the first quarter of 2025 [6] Financial Highlights - Revenue for the fourth quarter of 2024 was 83.7 million, up from 29.1millionintheprioryearquarter,whiletotalrevenuefor2024was29.1 million in the prior year quarter, while total revenue for 2024 was 108.3 million compared to 113.3millionin2023[11]−Researchanddevelopmentexpensesincreasedto113.3 million in 2023 [11] - Research and development expenses increased to 44.6 million in Q4 2024 from 34.1millioninQ42023,withfull−yearexpensesat34.1 million in Q4 2023, with full-year expenses at 159.7 million compared to 130.0millionin2023[11]−ThenetincomeforQ42024was130.0 million in 2023 [11] - The net income for Q4 2024 was 29.3 million, a significant improvement from a net loss of $16.3 million in the same quarter of the previous year [11]