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WVE

Wave Life Sciences Ltd.

WVE

Wave Life Sciences Ltd. • NASDAQ
$7.75 ▲ 1.04% (+0.08)
Market Cap $1.27 B
52w High $16.38
52w Low $5.28
Dividend Yield 0%
P/E -11.92
Volume 1.49M
Outstanding Shares 164.01M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $7.608M ▼ $63.961M ▲ $-53.852M ▼ -707.834% ▼ $-0.32 ▼ $-51.622M ▼
Q2-2025 $8.699M ▼ $59.262M ▲ $-50.469M ▼ -580.17% ▼ $-0.31 ▼ $-50.563M ▼
Q1-2025 $9.175M ▼ $56.815M ▼ $-46.878M ▼ -510.932% ▼ $-0.29 ▼ $-47.64M ▼
Q4-2024 $83.748M ▲ $60.781M ▲ $29.253M ▲ 34.93% ▼ $0.18 ▲ $25.123M ▲
Q3-2024 $-7.676M $56.239M $-61.78M 804.846% $-0.47 $-61.757M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $196.218M ▼ $241.378M ▼ $116.829M ▲ $124.549M ▼
Q2-2025 $208.481M ▼ $252.355M ▼ $113.089M ▼ $139.266M ▼
Q1-2025 $243.075M ▼ $288.343M ▼ $116.54M ▼ $171.803M ▼
Q4-2024 $302.078M ▼ $352.207M ▼ $142.692M ▼ $209.515M ▲
Q3-2024 $310.948M $358.504M $208.99M $149.514M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-53.852M ▼ $-44.666M ▲ $-248K ▲ $32.692M ▲ $-12.251M ▲ $-44.914M ▲
Q2-2025 $-50.469M ▼ $-46.012M ▲ $-306K ▼ $11.693M ▲ $-34.582M ▲ $-46.318M ▲
Q1-2025 $-46.878M ▼ $-63.039M ▼ $-165K ▼ $4.155M ▼ $-58.991M ▼ $-63.204M ▼
Q4-2024 $29.253M ▲ $-43.648M ▲ $-86K ▲ $34.981M ▼ $-8.856M ▼ $-43.734M ▲
Q3-2024 $-61.78M $-46.478M $-383K $203.746M $157.005M $-46.861M

Five-Year Company Overview

Income Statement

Income Statement Wave remains a classic clinical‑stage biotech story: very little revenue, sizable research expenses, and continuing net losses. The good news is that losses have been narrowing over the last few years, suggesting better cost control and some incremental collaboration or milestone income. Profitability is still far off and will likely depend on successful late‑stage trials or larger partnerships, but the direction of the income statement has been gradually improving rather than deteriorating.

Balance Sheet

Balance Sheet The balance sheet looks much healthier today than a few years ago. Cash and total assets have been rebuilt from prior lows, debt is modest, and shareholder equity has moved from negative to clearly positive. That points to recent capital infusions and/or partnership funding shoring up the company’s financial footing. Even so, this is not a balance sheet that can support many years of heavy spending without additional funding; it is stronger than before, but still that of an early‑stage, cash‑burning biotech.

Cash Flow

Cash Flow Cash flow is consistently negative, reflecting ongoing R&D investment and no commercial product sales yet. The encouraging aspect is that the cash burn has come down meaningfully in the last couple of years, indicating tighter spending and possibly more disciplined program prioritization. With essentially no capital spending needs, the main cash use is operating research and development. Sustainability of the current burn rate will hinge on future financings, partner payments, or an eventual transition to product revenue.

Competitive Edge

Competitive Edge Wave occupies a differentiated niche within RNA therapeutics. Its stereopure chemistry and PRISM platform offer a technically compelling way to design more precise and potentially safer oligonucleotide drugs. The company is also one of the first to show therapeutic RNA editing in humans, which, if confirmed in larger studies, could be a meaningful edge. The strategic alliance with GSK adds validation, scientific breadth, and some financial support. At the same time, Wave competes in a crowded, fast‑moving field with many well‑funded peers, and its competitive position will ultimately be judged on clinical data, safety, and durability versus rival platforms.

Innovation and R&D

Innovation and R&D Innovation is Wave’s core asset. The company is pushing multiple RNA modalities—silencing, splicing, and RNA editing—off a single chemistry platform, which can create a pipeline of diverse programs from one underlying technology. Lead programs in genetic liver disease, neuromuscular disorders, and Huntington’s disease, plus newer work in obesity and cardiometabolic conditions, show management’s ambition to move from rare to broader indications. This breadth is a strength but also a risk: it requires careful capital allocation and increases execution complexity. As with all cutting‑edge biotech, the science is promising but still needs to be proven across larger, later‑stage trials.

Summary

Wave Life Sciences is a high‑innovation, high‑risk biotech with improving but still loss‑making financials. The company has strengthened its balance sheet and reduced its cash burn compared with a few years ago, yet it remains reliant on external capital and partnerships until it can bring a product to market. Its stereopure RNA platform, early leadership in RNA editing, and collaboration with GSK provide a differentiated scientific and strategic base. Future value will depend heavily on upcoming clinical readouts, the ability to turn platform science into clear patient benefit, and management’s discipline in balancing ambitious R&D with finite financial resources.

NEWS

November 10, 2025 · 7:30 AM UTC

Wave Life Sciences Reports Third Quarter 2025 Financial Results and Provides Business Update

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November 7, 2025 · 8:30 AM UTC

Wave Life Sciences to Present at Upcoming Investor Conferences

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November 4, 2025 · 8:30 PM UTC

Wave Life Sciences to Present Preclinical Data Supporting Therapeutic Potential of WVE-007 for Obesity at ObesityWeek® 2025

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November 4, 2025 · 8:30 AM UTC

Wave Life Sciences Third Quarter 2025 Financial Results Scheduled for November 10, 2025

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October 29, 2025 · 10:50 PM UTC

Correcting and Replacing Wave Life Sciences Announced Positive Target Engagement Data from INLIGHT Clinical Trial of WVE-007 for Obesity During Annual Research Day

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