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Jun 30, 2024
Wave Life Sciences Q2 2024 Earnings Report
Wave Life Sciences reported financial results for the second quarter ended June 30, 2024, and provided a business update.
Key Takeaways
Wave Life Sciences announced positive clinical data from the Phase 1b/2a SELECT-HD study of WVE-003 and initiated dosing in the RestorAATion-2 clinical trial of WVE-006 in AATD patients. The company's cash and cash equivalents were $154.0 million as of June 30, 2024. Revenue was $19.7 million, and net loss was $32.9 million for the second quarter of 2024.
WVE-003 demonstrated statistically significant allele-selective silencing in HD patients.
Dystrophin data from the FORWARD-53 trial of WVE-N531 is expected in Q3 2024.
Dosing initiated in the RestorAATion-2 trial of WVE-006 in AATD patients, with proof-of-mechanism data expected in Q4 2024.
New preclinical data for WVE-007 in obesity is expected at the R&D Day in Fall 2024.
Forward Guidance
Wave Life Sciences anticipates several milestones in the near term, including a decision from Takeda on the option right for WVE-003, feedback from regulators on a clinical development path to accelerated approval, dystrophin protein expression data from the FORWARD-53 trial in Q3 2024, proof-of-mechanism data from RestorAATion-2 in Q4 2024, and a clinical trial initiation for WVE-007 in Q1 2025.
Positive Outlook
- Takeda decision on option right for WVE-003 expected by year-end.
- Regulatory feedback on accelerated approval path for WVE-003 expected by year-end.
- Dystrophin protein expression data from FORWARD-53 trial expected in Q3 2024.
- Proof-of-mechanism data from RestorAATion-2 expected in Q4 2024.
- Clinical trial initiation for WVE-007 expected in Q1 2025.
Challenges Ahead
- No specific negative forward guidance provided in the document.
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