WAVE Life Sciences (WVE) Misses Q2 EPS by 14c

WAVE Life Sciences (NASDAQ: WVE) reported Q2 EPS of ($0.78), $0.14 worse than the analyst estimate of ($0.64). Revenue for the quarter came in at $2.78 million versus the consensus estimate of $9.79 million.

“Since the start of the second quarter, Wave has achieved two significant milestones: the intrathecal dosing of patients with an oligonucleotide containing PN chemistry and preclinical proof-of-concept protein restoration in vivo with ADAR editing for our alpha-1 antitrypsin deficiency program. Both accomplishments reflect the significant evolution of our PRISM platform since Wave’s founding,” said Paul Bolno, MD, MBA, President and Chief Executive Officer of Wave Life Sciences. “Amyotrophic lateral sclerosis and frontotemporal dementia are both areas of high unmet need; therefore we are excited to advance WVE-004 in the FOCUS-C9 clinical trial, which is open to both patient populations as they have the same genetic cause of disease. Additionally, we continue to progress our clinical trials for Huntington’s disease and Duchenne muscular dystrophy. Our novel PN chemistry, stereochemical control and years of platform learnings have enabled us to lead the field on RNA editing and develop a best-in-class modality using endogenous ADAR enzymes, which further expands our genetic medicines toolkit. In June we delivered our first preclinical proof-of-concept data for our AATD program, and we believe RNA editing is the ideal approach to address this disease. Our upcoming Analyst and Investor Research Day in September will feature new data on our ADAR editing capability, AATD program, and updates on applications of ADAR editing beyond liver, including in the CNS.”

For earnings history and earnings-related data on WAVE Life Sciences (WVE) click here.

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