WAVE Life Sciences (WVE) Misses Q1 EPS by 18c, Revenues Miss

WAVE Life Sciences (NASDAQ: WVE) reported Q1 EPS of ($1.38), $0.18 worse than the analyst estimate of ($1.20). Revenue for the quarter came in at $4.16 million versus the consensus estimate of $6.05 million.

“During the last few months, our team has done a tremendous job of navigating the realities of the global COVID-19 pandemic, while making substantial progress on our critical priorities, including delivering on a key 2020 milestone, our initial in vivo RNA-editing dataset. We are working tirelessly to keep our clinical trials ongoing, our preclinical programs moving towards clinical development, and our discovery work on track, all while supporting each other and our communities during this difficult time,” said Paul Bolno, MD, MBA, President and Chief Executive Officer of Wave Life Sciences.

“Our PRECISION-HD clinical trials of WVE-120101 and WVE-120102, two investigational compounds designed to selectively target mutant HTT for the treatment of Huntington’s disease, are ongoing. While the pandemic has impacted several global clinical trial sites, the commitment of our patients and investigators remains resolute, speaking to the high unmet need for disease modifying therapeutics for this devastating disease. In addition, we currently remain on track to initiate clinical development for two additional neurological programs in the second half of 2020. Lastly, today we are announcing new data from our ADAR-mediated RNA-editing program and I look forward to sharing further updates on this emerging platform capability later this year.”

Wave expects that its existing cash and cash equivalents, together with expected and committed cash from its existing collaboration, will enable Wave to fund its operating and capital expenditure requirements into the third quarter of 2021.

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

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