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Wave Life Sciences Reports First Quarter 2020 Financial Results and Provides Business Update
Data from both PRECISION-HD clinical trials expected in 2H 2020
Advancing clinical neurology pipeline SNP3 and C9orf72 programs on track to initiate clinical development in 2H 2020
First ADAR-mediated RNA-editing data in non-human primates demonstrates editing efficiencies of up to 50%
Wave to host investor conference call and webcast at 8:30 a.m. ET today
CAMBRIDGE, Mass., May 11, 2020 Wave Life Sciences Ltd. (Nasdaq: WVE), a clinical-stage genetic medicines company committed to delivering life-changing treatments for people battling devastating diseases, today announced financial results for the first quarter ended March 31, 2020 and provided a business update.
During the last few months, our team has done a tremendous job of navigating the realities of the global COVID-19 pandemic, while making substantial progress on our critical priorities, including delivering on a key 2020 milestone, our initial in vivo RNA-editing dataset. We are working tirelessly to keep our clinical trials ongoing, our preclinical programs moving towards clinical development, and our discovery work on track, all while supporting each other and our communities during this difficult time, said Paul Bolno, MD, MBA, President and Chief Executive Officer of Wave Life Sciences.
Our PRECISION-HD clinical trials of WVE-120101 and WVE-120102, two investigational compounds designed to selectively target mutant HTT for the treatment of Huntingtons disease, are ongoing. While the pandemic has impacted several global clinical trial sites, the commitment of our patients and investigators remains resolute, speaking to the high unmet need for disease modifying therapeutics for this devastating disease. In addition, we currently remain on track to initiate clinical development for two additional neurological programs in the second half of 2020. Lastly, today we are announcing new data from our ADAR-mediated RNA-editing program and I look forward to sharing further updates on this emerging platform capability later this year.
Recent business highlights
PRECISION-HD programs for Huntingtons disease (HD): Wave is developing a unique portfolio of investigational stereopure oligonucleotides designed to selectively target the mutant allele of the huntingtin (mHTT) gene, while leaving the wild-type (wtHTT) relatively intact.
The PRECISION-HD2 Phase 1b/2a clinical trial, Waves clinical trial investigating WVE-120102, a stereopure oligonucleotide designed to selectively target the mHTT mRNA transcript that contains the SNP rs362331 (SNP2) for HD, is ongoing.
Data from the 32 milligram (mg) dose cohort of the PRECISION-HD2 trial are currently expected in the second half of 2020.
The following information was filed by Wave Life Sciences Ltd. (WVE) on Monday, May 11, 2020 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.
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