| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 2.27 | 94.1% | 73.9% |
| Total Income | 2.27 | 94.1% | 73.9% |
| Expenditure | 76.07 | 9.4% | 23.8% |
| PBT | -69.36 | 165.8% | 37.4% |
| Net Profit | -69.36 | 165.8% | 37.4% |
| OPM | — | ||
| NPM | — | ||
| EPS | -0.34 | 161.5% | 9.7% |
Wave Life Sciences Reports Q2 2026 Financial Results and Business Update
30 Jul 2026 · 30 Jul, 5:11 pm
Summary
Wave Life Sciences announced its financial results for the second quarter ended June 30, 2026, alongside a business update. The company highlighted progress across its pipeline, including dosing underway in the Phase 2a portion of the INLIGHT trial for WVE-007 in obesity, with Phase 2 combination and maintenance trials expected to start in 2H 2026. Discussions with the FDA regarding an accelerated approval pathway for WVE-006 are anticipated by the end of summer 2026, and a CTA submission for WVE-008 is on track for 2H 2026. The company ended the quarter with $490.6 million in cash, cash equivalents, and marketable securities, providing runway into Q3 2028. Revenue for Q2 2026 was $2.3 million, down from $8.7 million in the prior year quarter.
Key Highlights
- 1
Wave Life Sciences reported financial results for the second quarter ended June 30, 2026.
- 2
Dosing is underway in the Phase 2a multidose portion of the INLIGHTTM trial of WVE-007 in individuals with obesity.
- 3
Phase 2 combination and post-incretin maintenance trials of WVE-007 are on track to initiate in the second half of 2026.
- 4
A FDA meeting is scheduled for the end of summer 2026 to discuss a potential accelerated approval pathway for WVE-006.
- 5
The CTA submission for WVE-008 for PNPLA3 liver disease is on track for the second half of 2026.
- 6
The company reported cash, cash equivalents, and marketable securities of $490.6 million as of June 30, 2026, with an expected cash runway into the third quarter of 2028.
- 7
Revenue recognized was $2.3 million for the second quarter of 2026, compared to $8.7 million in the prior year quarter.
Management Comments
Paul Bolno
Our second quarter performance reflects disciplined execution across the pipeline. We recently initiated dosing in the Phase 2a portion of our INLIGHT trial in obesity. Our Phase 1 clinical data have already demonstrated substantial reductions of fat – particularly harmful visceral fat – without muscle loss, and with the potential for once or twice-yearly dosing. We expect the Phase 2a portion of the INLIGHT trial, in individuals with higher BMI and higher body fat, to demonstrate WVE-007’s broad potential to deliver even greater fat loss and improvements in body composition, as well as benefits across additional cardiometabolic biomarkers such as liver fat. In tandem with this progress, we are working expeditiously to initiate Phase 2 trials evaluating WVE-007 in combination with incretins and as post-incretin maintenance; we believe WVE-007 has the potential to transform the current obesity treatment landscape. In RNA editing, our RestorAATion-2 clinical data support WVE-006’s potential to offer a new standard of care for individuals living with AATD by treating both lung and liver manifestations of the disease, and restoring dynamic response of AAT protein, with convenient, infrequent subcutaneous dosing, and without the risks associated with DNA editing. We look forward to meeting with the FDA to discuss a pathway for accelerated approval for WVE-006. Building on our clinical success in RNA editing, WVE-008, our PNPLA3 RNA editing program, has the potential to address the nine million individuals living with this genetic liver disease. It’s exciting to see the clinical translation of our RNAi and RNA editing programs, enabled by our unique and proprietary chemistry, and supported by human genetics. We expect to provide further updates on our pipeline and platform innovations at our annual investor day this fall.
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