Wave Life Sciences prices upsized $402.5M public offering; extends cash runway to Q3 2028

Wave Life Sciences Ltd.

Offering: 15,789,475 shares at $19.00 plus 2,631,578 pre-funded warrants at $18.9999.
Underwriters fully exercised option for additional 2,763,157 shares; total gross proceeds ~$402.5M.
Closing expected Dec 11, 2025; pro forma shares outstanding ~187.7M.
Cash runway extended into Q3 2028; excludes potential milestone payments from GSK collaboration.
Jefferies, Leerink Partners, BofA Securities act as joint book-running managers.

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