The earnings call highlighted significant progress in the development of RNA editing and obesity programs, alongside promising clinical trial results in DMD. However, financial metrics showed a decrease in revenue and an increased net loss. The positive advancements in clinical programs and strong cash position are balanced by financial challenges.

Company Guidance -

Q3 2025

During the Wave Life Sciences Second Quarter 2025 Earnings Call, the company provided guidance on several key programs and metrics. They discussed their progress in RNA editing, highlighting the AATD clinical program with WVE-006, which showed promising data with a mean of 6.9 micromolar circulating M-AAT and 10.8 micromolar total AAT in initial trials, suggesting potential for monthly or less frequent dosing. The company also advanced their INLIGHT clinical program for obesity with WVE-007, expanding Cohort 2 from 8 to 32 participants after observing favorable safety and robust Activin E reduction in Cohort 1. Data from Cohort 2 is expected in Q4 2025, with Cohort 3 data projected for Q1 2026. For their DMD program, WVE-N531 demonstrated a significant improvement in time to rise by 3.8 seconds, and they plan to submit an NDA in 2026. Financially, Wave Life Sciences reported a net loss of $50.5 million for the quarter, with cash reserves expected to fund operations into 2027.

Advancement of RNA Editing Programs

Wave Life Sciences advanced its RNA editing programs, particularly with WVE-006 for AATD, showing significant progress in clinical trials with promising initial proof of mechanism data and strong durability of effects observed in early trials.

Positive Developments in Obesity Program

The INLIGHT clinical program for WVE-007 showed favorable safety and tolerability, prompting an expansion of the second cohort from 8 to 32 participants due to robust Activin E reduction observed in the first cohort.

DMD Program Success

The FORWARD-53 clinical trial for WVE-N531 demonstrated statistically significant and clinically meaningful improvements in time to rise for DMD patients, supporting its potential as a best-in-class therapeutic.

Strong Cash Position

The company reported a cash balance of $208.5 million, expected to fund operations into 2027.

Wave Life Sciences (WVE) Earnings, Revenues Date & History

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WVE Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 06, 2025	2025 (Q3)	-0.26 / -	-0.47	―	―	―
Jul 30, 2025	2025 (Q2)	-0.28 / -0.31	-0.25	-24.00% (-0.06)	―
May 08, 2025	2025 (Q1)	-0.26 / -0.29	-0.24	-20.83% (-0.05)
Mar 04, 2025	2024 (Q4)	-0.18 / 0.18	-0.15	220.00% (+0.33)	―
Nov 12, 2024	2024 (Q3)	-0.28 / -0.47	0.07	-771.43% (-0.54)	―
Aug 08, 2024	2024 (Q2)	-0.21 / -0.25	-0.2	-25.00% (-0.05)
May 09, 2024	2024 (Q1)	-0.19 / -0.24	-0.27	11.11% (+0.03)
Mar 06, 2024	2023 (Q4)	-0.23 / -0.15	-0.47	68.09% (+0.32)
Nov 09, 2023	2023 (Q3)	-0.18 / 0.07	-0.42	116.67% (+0.49)	―
Aug 03, 2023	2023 (Q2)	-0.33 / -0.20	-0.62	67.74% (+0.42)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

WVE Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 30, 2025	$8.32	$8.16	-1.92%
May 08, 2025	$6.49	$6.54	+0.77%
Mar 04, 2025	$10.05	$11.23	+11.74%
Nov 12, 2024	$16.44	$15.89	-3.35%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.