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Dec 31, 2023
Wave Life Sciences Q4 2023 Earnings Report
Announced financial results for the fourth quarter and full year ended December 31, 2023, and provided a business update.
Key Takeaways
Wave Life Sciences reported its Q4 2023 financial results, with revenue increasing significantly due to collaborations with GSK and Takeda. The company's cash and cash equivalents totaled $200.4 million, expected to fund operations into Q4 2025. A net loss of $16.3 million was reported for the quarter, an improvement over the prior year.
Selected lead clinical candidate for INHBE program with a potential best-in-class profile for obesity and accelerated clinical development timeline.
Dose escalation in RestorAATion-1 clinical trial ongoing; clinical program investigating WVE-006 as a first- and best-in-class treatment for alpha-1 antitrypsin deficiency (AATD).
Advancing FORWARD-53 clinical trial; multiple presentations at MDA Clinical & Scientific Conference highlight differentiated profile including industry-leading exon-skipping, muscle tissue concentrations and myogenic stem cell distribution.
WVE-003 and wild-type HTT sparing highlighted at annual CHDI Conference.
Forward Guidance
Wave Life Sciences expects to deliver proof-of-mechanism data from RestorAATion-2 in patients with AATD in 2024. Wave expects to initiate a clinical trial for its INHBE candidate in the first quarter of 2025. Wave expects to deliver data, including dystrophin protein expression from muscle biopsies at 24 weeks, in the third quarter of 2024. Wave expects to report data from the 30 mg multi-dose cohort with extended follow-up, along with all single-dose data, in the second quarter of 2024.
Positive Outlook
- Wave expects to deliver proof-of-mechanism data from RestorAATion-2 in patients with AATD in 2024.
- Wave expects to initiate a clinical trial for its INHBE candidate in the first quarter of 2025.
- Wave expects to deliver data, including dystrophin protein expression from muscle biopsies at 24 weeks, in the third quarter of 2024.
- Wave expects to report data from the 30 mg multi-dose cohort with extended follow-up, along with all single-dose data, in the second quarter of 2024.
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