Wave Life Sciences (WVE) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

May 07, 2026

TBA (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

-0.32

Last Year’s EPS

-0.29

Same Quarter Last Year

Analyst Consensus

Strong Buy

Based on 15 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 26, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call emphasized substantial clinical progress across multiple high-value programs (notably differentiated Phase I body-composition signals for WVE-007, compelling RNA editing results for WVE-006, and advancement of WVE-008), strong platform differentiation (SpiNA chemistry), concrete partnership milestones and a cash runway into Q3 2028. These positives are tempered by a large, one-time-driven revenue decline (Takeda termination), rising operating expenses and widening net losses, plus normal early-stage and competitive/regulatory uncertainties. On balance, the clinical and platform progress combined with an adequate cash runway and partnership upside outweigh near-term financial headwinds, but the business remains execution- and data-dependent over the next 12–18 months.

Company Guidance

Wave reiterated that its clinical and regulatory timelines and financial runway are on track: INLIGHT will report six‑month follow‑up from the 240 mg single‑dose cohort and three‑month data from the 400 mg single‑dose cohort later this quarter, the Phase IIa multi‑dose (MAD) for WVE‑007 is planned to start in H1 2026 (with MRI and MRI‑PDFF assessments), add‑on and post‑incretin maintenance trials for 007 are slated for 2026, regulatory feedback on an accelerated approval pathway for WVE‑006 is expected mid‑2026, a CTA for WVE‑008 and an NDA submission for N531 are targeted in 2026, and RestorAATion‑2 will report 400 mg MAD data this quarter with 600 mg data in 2026; financially they reported Q4 revenue $17.2M (FY 2025 $42.7M), Q4 R&D $52.8M (FY $182.8M), Q4 G&A $20.9M (FY $75.3M), Q4 net loss $53.2M (FY net loss $204.4M), ended the year with $602.1M cash (runway into Q3 2028), expect ongoing GSK milestone payments (collaboration eligible for up to $2.8B; GSK has selected a 4th program and may advance up to 8), and highlighted clinical metrics including >100 patients dosed in INLIGHT (three therapeutic cohorts of 32 each), a single 240 mg dose producing a placebo‑adjusted 4% total fat reduction, 9.2% visceral fat reduction and a 0.9% lean‑mass increase at 3 months with durable activin E suppression (supporting once‑ or twice‑yearly dosing), and WVE‑006 showing >11 µM M‑AAT, >50% editing and an acute‑phase response at the lowest dose.

WVE-007 (INHBE) Phase I body-composition signal

Interim INLIGHT data (single 240 mg dose) showed a placebo-adjusted 4% reduction in total fat, a 9.2% reduction in visceral fat and a 0.9% increase in lean mass at 3 months. Company highlighted fat loss comparable to semaglutide at 12 weeks but with preservation of muscle; durable serum activin E suppression observed supporting once- or twice-yearly dosing and a clean safety profile through the 600 mg cohort.

WVE-007 development cadence and expansion plans

INLIGHT fully dosed through 600 mg cohort. Company on track to report 6-month follow-up for the 240 mg cohort and 3-month follow-up for the 400 mg cohort this quarter; Phase IIa multi-dose (MAD) portion to enroll higher-BMI/comorbid patients is on track to initiate in H1 2026. Planned 2026 trials include incretin add-on and post-incretin maintenance studies.

SpiNA chemistry differentiation

Proprietary SpiNA siRNA design reported to deliver ~10-fold improvement in Ago2 loading and several-fold increase in exposure versus industry benchmarks in preclinical work, driving increased potency and duration (claimed translational advantage into clinic).

WVE-006 (RNA editing) strong early AATD biology and regulatory path

RestorAATion-2 data show >50% editing and >11 μM M-AAT protein at the lowest dose with restoration of acute phase response; a ZZ participant achieved total AAT >20 μM two weeks after a single dose. Company expects regulatory feedback on a potential accelerated approval pathway in mid-2026 and will report 400 mg multi-dose data this quarter (600 mg single/multi-dose data expected in 2026).

WVE-008 (PNPLA3 I148M) entering clinic-enabling stage

Advancing a second RNA editing candidate for homozygous PNPLA3 I148M liver disease with CTA submission on track for 2026; program targets an estimated ~9 million homozygous carriers in U.S./Europe and aims to correct a clearly defined genetic driver of liver pathology.

Pipeline and partnership momentum

On track to submit NDA for DMD candidate N531 (monthly dosing) in 2026. GSK collaboration progressed: GSK selected a fourth program (milestone payment received in Q1) and Wave remains eligible for up to $2.8 billion in milestones plus tiered royalties; management expects continued milestone payments in 2026+.

Cash runway

Cash and cash equivalents of $602.1 million at year-end, management expects this to fund operations into Q3 2028 (cash runway excludes potential future GSK milestone payments).

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

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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WVE Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 07, 2026	2026 (Q1)	-0.32 / -	-0.29	―	―	―
Feb 26, 2026	2025 (Q4)	-0.27 / -0.30	0.18	-266.67% (-0.48)	―
Nov 10, 2025	2025 (Q3)	-0.30 / -0.32	-0.47	31.91% (+0.15)	―
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)

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
Feb 26, 2026	$14.54	$15.36	+5.64%
Nov 10, 2025	$7.86	$7.05	-10.31%
Jul 30, 2025	$8.32	$8.16	-1.92%
May 08, 2025	$6.49	$6.54	+0.77%

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.