Wave Life Sciences posted third-quarter 2026 net loss of $61.9 million and $431 million in cash and marketable securities, expected to fund operations into the third quarter of 2028. It plans a two-year WVE-006 registrational trial with one-year interim analysis.
WVE · Wave Life Sciences, Inc.
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Wave Life Sciences reported $53.7 million revenue and a $157.4 million net loss for the nine months ended September 30, 2026, while a GSK-selected GalNAc-siRNA candidate generated a $12 million milestone.
Wave Life Sciences reported $61.9 million net loss for the third quarter of 2026. Cash, cash equivalents, and marketable securities were $431.0 million as of September 30, 2026, excluding $12 million GSK milestone to be received in fourth quarter of 2026.
WAVE said its phase 2A monotherapy and combination studies are underway in obese patients, while alpha-1 antitrypsin aligned with the agency on a two-year registrational trial with an interim analysis at a year for potential accelerated approval.
Wave Life Sciences Ltd. said WVE-007 dosing is underway in the Phase 2a INLIGHT™ trial, while a WVE-008 clinical trial application is planned for the second half of 2026.
Metrics snapshot
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Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q3 FY26 earnings call · Oct 27, 2026TL;DR. Wave reported higher revenue and pipeline advances across WVE-007, WVE-006, and WVE-008, while GSK selected a development candidate. The company ended the quarter with $431.0 million in cash and securities and an expected runway into 3Q 2028, although R&D, G&A, and net loss increased year over year.
- − R&D expense increased to $53.8 million from $45.9 million as clinical and RNA-editing programs advanced.
- − The WVE-006 registrational strategy may face endpoint constraints because FEV1 is not considered feasible within a reasonable trial timeframe and patient count.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
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Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Cash, cash equivalents, and marketable securities | $490.6M | as of June 30, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Biotechnology — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
WVE
this stock
Wave Life Sciences, Inc.
|
$617.33M | -81.6% | +149.4% | — | 10.5% |
|
VRTX
Vertex Pharmaceuticals Inc
|
$136.56B | +18.8% | +46.2% | 34.7 | 1.9% |
|
REGN
Regeneron Pharmaceuticals, Inc.
|
$98.84B | +23.8% | +20.8% | 21.1 | 2.1% |
|
MRNA
Moderna, Inc.
|
$90.38B | +657.4% | +4.3% | — | 8.2% |
|
CSLLY
Csl Ltd
|
$66.05B | — | — | — | 0.0% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Oct 27, 2026
- This year
- 27
Wave Life Sciences reported $53.7 million revenue and a $157.4 million net loss for the nine months ended September 30, 2026, while a GSK-selected GalNAc-siRNA candidate generated a $12 million milestone.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| WVE | -7.0% | +0.0% | -50.9% | -12.8% | -81.6% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | -9.6% | +1.2% | -51.4% | -12.6% | -92.2% |