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Sep 30, 2023
Wave Life Sciences Q3 2023 Earnings Report
Wave Life Sciences reported a net income for Q3 2023 and provided a business update.
Key Takeaways
Wave Life Sciences reported a net income of $7.3 million for the third quarter of 2023, driven by increased revenue from collaborations. The company is advancing its RNA editing and therapeutic programs, including WVE-006, WVE-N531, and WVE-003, and expanding its pipeline with a new GalNAc-siRNA INHBE program. Cash and cash equivalents were $140 million as of September 30, 2023, expected to fund operations into 2025.
Initiated RestorAATion clinical program for WVE-006, the industry’s first-ever RNA editing clinical candidate.
On track to deliver dystrophin data from the FORWARD-53 trial of WVE-N531 in 2024.
Completed enrollment in the 30 mg multi-dose cohort of SELECT-HD with clinical data expected in Q2 2024.
Presented preclinical proof-of-concept data for a new GalNAc-siRNA INHBE program for metabolic disorders.
Forward Guidance
Wave Life Sciences anticipates several milestones, including initiating dosing for WVE-006 in Q4 2023, delivering data from FORWARD-53 in 2024, and selecting a clinical candidate for the INHBE program in Q4 2024.
Positive Outlook
- Initiate dosing in healthy volunteers in RestorAATion clinical program in 4Q 2023
- Deliver proof-of-mechanism data from RestorAATion clinical program in 2024
- Initiate dosing in potentially registrational FORWARD-53 Phase 2 clinical trial in 2023
- Deliver data from FORWARD-53 clinical trial in 2024
- Deliver data from 30 mg multi-dose cohort with extended follow-up, along with all single-dose data, in 2Q 2024
Historical Earnings Impact
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