Wave Life Sciences Q4 net loss $53.2M; cash $602.1M; WVE-007 obesity data update expected Q1 2026

Wave Life Sciences Ltd.

2025-FY EPS reported -$1.21 revenue$42,727,000

Net loss $53.2M in Q4 vs income $29.3M YoY; full year loss $204.4M vs $97.0M.
Cash $602.1M as of Dec 31, 2025, up from $302.1M; runway into 3Q 2028.
WVE-007 obesity: INLIGHT Phase 1 showed fat loss similar to GLP-1 at 240mg; Phase 2a multidose planned 1H 2026.
WVE-006 for AATD: regulatory engagement for accelerated approval; feedback expected mid-2026; 400mg multidose data in Q1 2026.
GSK collaboration selected fourth program in Jan 2026; eligible for up to $2.8B milestones.

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