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Mar 31, 2022
Wave Life Sciences Q1 2022 Earnings Report
Wave Life Sciences reported first quarter 2022 financial results and provided a business update.
Key Takeaways
Wave Life Sciences reported revenue of $1.8 million and a net loss of $37.8 million in the first quarter of 2022. The company's cash, cash equivalents, and short-term investments totaled $111.7 million as of March 31, 2022.
Announced first clinical data from ongoing FOCUS-C9 trial of WVE-004 for C9-ALS and C9-FTD demonstrating potent and durable target engagement with low, single doses
Continued to advance clinical trials evaluating WVE-003 targeting SNP3 for Huntington’s disease (HD) and WVE-N531 for Duchenne muscular dystrophy (DMD) amenable to exon 53 skipping
Presented preclinical AIMer data for AATD program supporting the potential for a novel, first-in-class, subcutaneous therapeutic to address both lung and liver manifestations of disease
Scientific publications highlight breadth and potential of Wave’s therapeutic oligonucleotide platform, including novel PN-chemistry and RNA editing modality
Forward Guidance
Wave expects to achieve several milestones in 2022, including additional clinical data for WVE-004, WVE-003, and WVE-N531, as well as the selection of an AATD AIMer development candidate and initiation of IND-enabling toxicology studies.
Positive Outlook
- Additional single and multidose clinical data for WVE-004 expected throughout 2022.
- Wave expects to use these data to optimize WVE-004 dose level and frequency, as well as to enable discussions with regulatory authorities regarding the next phase of development later in 2022.
- Planning underway to initiate an open-label extension (OLE) clinical trial in mid-2022.
- Clinical data expected in 2022 for WVE-003 to provide further insight into the clinical effects of PN chemistry and enable decision-making for this program.
- Clinical data, including muscle biopsies, expected in 2022 for WVE-N531 to provide further insight into the clinical effects of PN chemistry and enable decision-making for this program.
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