Wave Life Sciences lifts Q3 revenue 73% as net loss widens to $61.9 million

what happened

Wave Life Sciences posted third-quarter 2026 revenue of $13.2 million, up 73% from $7.6 million a year earlier, according to a 10-Q summary published by TradingView. Collaboration income from GSK drove the gain. The net loss grew to $61.9 million from $53.9 million, while the loss per diluted share narrowed to $(0.30) from $(0.32).

On the pipeline side, Phase 1 results for WVE-007 showed a 14% placebo-adjusted reduction in visceral fat after six months, with lean mass holding steady, and a Phase 2a study has already begun dosing. WVE-006 has finished dosing in every trial cohort. After reaching agreement with the FDA, the company plans a registrational study and is targeting 600 mg multidose readings in late 2026. It also intends to submit a clinical trial application for WVE-008, a PNPLA3 candidate, in the same period.

why it matters

Nine-month collaboration revenue climbed to $53.7 million from $25.5 million, helped by recognition of deferred AATD revenue and a $12 million milestone tied to GSK selecting a GalNAc-siRNA candidate in September. For investors, the quarter shows that much of the revenue depends on partner payments rather than steady sales, while losses keep widening. Three other collaboration programs are moving toward candidate selection, which could bring further milestone payments.

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