Please wait while we load the requested 10-Q report or click the link below:
Wave Life Sciences Reports First Quarter 2018 Financial Results and Provides Business Update
CAMBRIDGE, Mass., May 9, 2018 Wave Life Sciences Ltd. (NASDAQ: WVE), a biotechnology company focused on delivering transformational therapies for patients with serious, genetically-defined diseases, today announced financial results for the first quarter ended March 31, 2018, and provided a business update.
The strong momentum we achieved in 2017 with our clinical development programs and as an organization continued through the first quarter, said Paul Bolno, MD, MBA, Chief Executive Officer and President of Wave Life Sciences. We are seeing significant interest from patients and the medical community in our first three clinical studies in Huntingtons disease and Duchenne muscular dystrophy and look forward to initiating three additional development programs by the end of the year.
First Quarter Highlights and Business Update
|||Ongoing and planned clinical trials on track|
The PRECISION-HD program, which consists of two global Phase 1b/2a clinical trials evaluating WVE-120101 and WVE-120102 for patients with Huntingtons disease, continues to enroll patients and the company is on track to report topline data in the first half of 2019.
The global Phase 1 clinical trial, testing WVE-210201 for the treatment of Duchenne muscular dystrophy (DMD) patients amenable to exon 51 skipping, continues to enroll patients. Safety data from the trial are anticipated in the third quarter of 2018.
The company intends to initiate clinical trials of WVE-3972-01 in amyotrophic lateral sclerosis (ALS) and frontotemporal dementia (FTD) in the fourth quarter of 2018. Waves next DMD development program will target exon 53, with clinical trials expected to initiate in the first quarter of 2019.
|||Waves manufacturing facility completes inaugural good manufacturing practice (GMP) campaigns|
Wave is now producing clinical material in the GMP manufacturing suite at its Lexington, Massachusetts facility. The company recently completed manufacturing runs and material from these campaigns will support the development programs, including those for ALS and FTD.
In July 2017, Wave took occupancy of the new facility which was designed to provide greater independence and flexibility in conducting clinical trials, secure material for current and future development activities and provide the capability for commercial-scale manufacturing. The company is continuing to build out the 90,000-square foot facility with process development, quality control and analytical development laboratories.
|||Takeda collaboration takes effect: at least $230 million in committed cash|
In April 2018, Waves global strategic collaboration with Takeda Pharmaceutical Company Limited to discover, develop and commercialize nucleic acid therapies for disorders of the central nervous system took effect when Wave closed on the issuance and sale of 1,096,892 ordinary shares to Takeda and received aggregate cash proceeds of $60 million. Wave also received an upfront payment of $110 million in cash under the collaboration. In addition, Takeda is required to fund at least $60 million of Wave research over a four-year period to advance multiple preclinical targets.
The following information was filed by Wave Life Sciences Ltd. (WVE) on Wednesday, May 9, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one quarter to another to evaluate Wave Life Sciences Ltd.'s financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were
removed , and by Wave Life Sciences Ltd..