Wave Life Sciences Q3 revenue jumps, beats estimates

Overview

• Biotechnology firm's Q3 revenue rose and beat analyst expectations

• Company reported smaller-than-expected pretax and net loss figures

• Company advanced clinical pipeline, including planning registrational trial for WVE-006 in AATD

Outlook

• Company expects cash runway to fund operations into Q3 2028

• Wave plans to initiate WVE-007 post-incretin maintenance trial in Q4 2026

• Company plans registrational trial for WVE-006 in AATD with interim analysis for accelerated approval

Result Drivers

• HIGHER REVENUE FROM COLLABORATION - Co said Q3 revenue increase was primarily due to a $12 mln milestone payment earned from GSK for candidate selection in their collaboration program

• INCREASED R&D SPENDING - Co reported higher research and development expenses in Q3, reflecting advancement of lead clinical programs including WVE-006 and WVE-007

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 18 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Wave Life Sciences, Inc. is $15.00, about 367.3% above its October 26 closing price of $3.21

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• Oct 27 - Novartis slightly misses Q3 net sales estimates, but tops core EPS view

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)