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WVE — Wave Life Sciences Inc.

WVE (Wave Life Sciences Inc.) stock: $3.12, $615.3M market cap, $431.0M cash, $184.3M EV, $687.7M fully diluted market cap. Next expected readout: Nov-26. Lead program: WVE-N531 (Duchenne Muscular Dystrophy), Phase 2. Data from Fully Diluted's biotech stocks database.

What they do

We are a clinical-stage biotechnology company focused on unlocking the broad potential of ribonucleic acid (“RNA”) medicines (also known as oligonucleotides), or those targeting RNA, to transform human health. Our RNA medicines platform, PRISM ® , combines multiple modalities, chemistry innovation and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and common disorders.

Source: 10-K FY2025 via SEC EDGAR

Share price
$3.12
Market cap
$615.3M
Cash
$431.0M
Enterprise value
$184.3M

Balance sheet

Cash$431.0M
Debt$0.0M
Net cash$431.0M
Enterprise value$184.3M
Basic shares197.2M shares
Fully diluted shares220.4M shares
Fully diluted market cap$687.7M
Cash per share$2.19
Quarterly burn$53.6M
Cash runway8.0 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-13.

Share structure

Common
178.0M
Pre-funded warrants
7.1M
Options
24.3M
RSUs
8.9M
Warrants
0.0M
Converts
0.0M
Conv preferred
0.0M
ESPP reserve
2.2M
FDSO
220.4M

Cap table as of 2026-09-30.

Price history

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Next catalyst

WVE-008 · Est. Nov 14, 2026 · half midpoint · guided Now

Recently reported

WVE-007 Phase 1 Positive · 2026-11-13
WVE-007 · overweight and obesity
Primary: Activin E reduction and body composition (visceral fat, total fat, waist circumference and lean mass) in the Phase 1 single-dose portion of the INLIGHT trial of WVE-007 in adults living with overweight and obesity — Mean maximum single-dose Activin E reductions of 82% (240 mg), 84% (400 mg) and 88% (600 mg); in the 240 mg cohort at one year following a single dose, placebo-adjusted reductions in visceral fat, total fat and waist circumference with preservation of lean mass continued to be observed
· In the 240 mg cohort, for which all subjects have reached one year follow-up, single-dose placebo-adjusted mean Activin E reductions from baseline remained significant
· Six-month data from the 600 mg cohort were similar to previously reported 400 mg data, with placebo-adjusted reductions in visceral fat and waist circumference and preservation of lean mass, while total fat remained relatively unchanged
· Average baseline BMI in the Phase 1 study is 31.7 kg/m2
· Six-month data from the ongoing Phase 2a monotherapy trial in individuals with high BMI, high adiposity, and comorbidities anticipated in 2027
· Wave announced a plan to integrate its maintenance clinical trial with the ongoing WVE-007/tirzepatide combination trial
Safety: Generally safe and well tolerated, with no discontinuations and no drug-related serious adverse events; no clinically meaningful changes in clinical laboratory measurements, including lipid profiles or liver function tests
Source release →
WVE-006 Phase 2 Mixed · 2026-10-01
WVE-006 · alpha-1 antitrypsin deficiency
Source release →
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