Wave loses half its market cap on obesity data

Updated data from Wave’s Phase I trial of WVE-007 disappointed investors, as a higher dose of the siRNA did not show greater efficacy than the low-dose data reported last December. But given the similar degree of mRNA reduction at both doses, those expectations may have been too high to begin with.

On Thursday, Wave Life Sciences Ltd. (NASDAQ:WVE) reported six-month efficacy data for the 240 mg cohort of WVE-007 and three-month data for the mid-dose 400 mg cohort treated with the INHBE-targeting siRNA. While the six-month data showed a 14.3% placebo-adjusted reduction in visceral fat (p<0.05), there appeared to be a plateau effect on other metrics, with little change demonstrated in total fat mass, lean mass, or body weight between the three-month and six-month endpoints. ...