Wave Life Sciences (0VS) Q3 2026 Earnings Report
DE:0VS Q3 2026 EPS Results
- Actual EPS
- -EUR 0.27
- Consensus EPS
- -EUR 0.29
- Beat/Miss
- Beat by +EUR 0.03
- One Year Ago EPS
- -EUR 0.29
DE:0VS Q3 2026 Revenue Results
- Actual Revenue
- EUR 11.74M
- Expected Revenue
- EUR 4.03M
- Beat/Miss
- Beat by +EUR 7.72M
- YoY Revenue Growth
- +72.95%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/27/2026
- Time
- Before Open
- Conference Call
- Tuesday, October 27, 2026
DE:0VS Upcoming Earnings
Wave Life Sciences's next earnings date is estimated for March 4, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
DE:0VS Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive, with management highlighting progress across WVE-007, WVE-006 and WVE-008, favorable early clinical profiles, FDA alignment on an efficient WVE-006 registrational path, GSK candidate selection, increasing collaboration revenue and cash runway into the third quarter of 2028. The main negatives were higher operating expenses, a wider net loss, and the fact that several important efficacy, dosing and regulatory details remain pending.
Company Guidance
Wave said WVE-007’s phase II-A monotherapy trial includes four cohorts with up to 40 participants each, evaluating 240 mg and 400 mg doses in individuals with BMI of 35 to 50, with and without type 2 diabetes, and is intended to cross the one-year regulatory threshold of 5% weight loss; the phase II-A combination trial is evaluating 240 mg and 400 mg with weekly tirzepatide in individuals with a range of BMIs from 35 to 50 and type 2 diabetes, while a post-incretin maintenance trial remains on track to initiate in the fourth quarter and 600 mg data from INLIGHT is expected in the fourth quarter. WVE-006 is planned for a single two-year registrational trial with a one-year interim analysis for potential accelerated approval, without the need for a separate confirmatory study, and WVE-008 remains on track for a CTA submission in 2026. Wave ended the third quarter with $431 million in cash equivalents and marketable securities, expected to fund operations into the third quarter of 2028, and expects an incremental $12 million milestone payment from GSK in the fourth quarter.
- GSK Development Candidate Selection and Collaboration RevenueGSK selected an siRNA development candidate during the third quarter, providing further validation of Wave's SpiNA-designed siRNA platform. Third-quarter revenue was $13.2 million, compared with $7.6 million in the prior-year quarter, an increase of approximately 74%, related to the ongoing GSK collaboration. Wave expects an incremental $12 million milestone payment from GSK in the fourth quarter.
- Cash Runway Extended Into Third Quarter of 2028Wave ended the third quarter with $431 million in cash equivalents and marketable securities, which management expects to be sufficient to fund operations into the third quarter of 2028. Potential future GSK milestones and other collaboration payments are excluded from this cash runway.
- WVE-007 Clinical Translation in ObesityWVE-007 has produced clinically meaningful reductions in visceral and total fat, prevention of lean mass loss, favorable tolerability, and durable, dose-dependent activin E suppression in the phase I single-dose study. The profile supports the potential for once- or twice-yearly dosing.
- WVE-007 Phase II-A Monotherapy Trial ProgressThe phase II-A monotherapy trial is enrolling individuals with obesity, BMI of 35 to 50, and comorbidities. The study includes four cohorts of up to 40 participants each across 240 mg and 400 mg doses and populations with and without type 2 diabetes. Participants receive two doses on day one and day 85 and are followed for up to 12 months. Baseline adiposity is substantially higher than in phase I and is in line with phase II and III obesity trials.
- Potential to Meet the 5% One-Year Weight-Loss ThresholdManagement said the higher baseline adiposity in the phase II-A population is consistent with analyses and modeling that point to a potential path to 5% weight loss after one year, described as the regulatory bar. The trial also measures liver fat by MRI PDFF and other cardiometabolic biomarkers.
- WVE-007 Combination Trial InitiatedWave initiated the phase II-A combination trial during the third quarter. The randomized controlled study evaluates 240 mg and 400 mg doses of WVE-007 with weekly tirzepatide versus tirzepatide alone in individuals with BMI of 35 to 50 and type 2 diabetes.
- WVE-007 Potential Combination BenefitManagement said WVE-007's mechanism may complement incretins by driving fat loss while preserving muscle. In preclinical studies, adding WVE-007 to incretins produced approximately two-fold greater weight loss than incretins alone.
- Post-Incretin Maintenance Trial on TrackWave remains on track to initiate a WVE-007 clinical trial in the fourth quarter as maintenance therapy after discontinuation of incretin treatment. The planned setting is intended to evaluate prevention of fat regain while potentially allowing muscle regain.
- WVE-007 Preclinical Cardiometabolic ProfileIn the diet-induced obesity mouse model, INHBE silencing produced substantial visceral and subcutaneous fat loss with muscle preservation and GLP-1-like weight loss. The company also reported increased adipocyte lipolysis, smaller adipocytes, fewer pro-inflammatory macrophages and reduced fibrosis, along with improved insulin sensitivity.
- WVE-007 600 mg Data Expected in the Fourth QuarterData from the 600 mg phase I single-ascending-dose portion of INLIGHT are expected in the fourth quarter. The data are intended to further characterize potency, duration, safety, tolerability, pharmacokinetics and pharmacodynamics, and help optimize dose and dosing interval.
- WVE-006 FDA Alignment and Registrational PathFollowing a productive FDA meeting, Wave is planning a single two-year registrational trial for WVE-006 in AATD, with a one-year interim analysis for potential accelerated approval based on biomarkers. Management said the design could support full approval without a separate confirmatory trial.
- WVE-006 MZ-Like Phenotype DataIn the ongoing RestorAATion-2 trial, WVE-006 substantially reduced Z-AAT, produced protective basal levels of total AAT with wild-type M-AAT percentages well into the MZ range, and restored a dynamic physiologic response to inflammatory events. The 200 mg, 400 mg and 600 mg cohorts have completed enrollment and dosing.
- WVE-006 600 mg Monthly Data Expected in the Fourth QuarterWave expects to report data from the 600 mg monthly dosing cohort of RestorAATion-2 in the fourth quarter. The readout is intended to inform the optimal dose and regimen, including dose interval and total exposure.
- FDA Acceptance of the LC-MS AssayThe FDA supported Wave's use of its LC-MS assay to measure M-AAT and Z-AAT proteins. Management said the assay is sufficiently characterized for use through the registration study and provides consistency across development stages.
- Potentially Differentiated AATD Treatment ProfileWVE-006 is designed to address both lung and liver manifestations of AATD through convenient, infrequent subcutaneous dosing, while restoring the dynamic AAT response. Management described this as a potential new standard of care and a differentiated value proposition for providers and payers.
- AATD Enrollment ResourcesWave plans to leverage Alpha-1 foundations, societies and registries containing several thousand patients to support enrollment in the registrational study. Management said the company has already enrolled individuals with liver fibrosis and plans to continue studying patients with both lung and liver disease.
- WVE-008 on Track for 2026 CTA SubmissionWave's second RNA-editing candidate, WVE-008, remains on track for a clinical trial application submission in 2026 for homozygous PNPLA3 I148M liver disease. The first-in-human study is expected to use previously genotyped populations to identify carriers efficiently, measure target engagement through circulating biomarkers and assess early efficacy using non-invasive liver imaging.
- Large PNPLA3 I148M Patient Population and Unmet NeedManagement cited an estimated nine million homozygous PNPLA3 I148M carriers with liver disease across the U.S. and Europe. These carriers have a nine-fold higher risk of dying from liver disease than non-carriers, and there are currently no approved medicines that directly address the underlying PNPLA3 I148M mechanism.
- Proprietary Chemistry and Platform ExpansionWave said its proprietary chemistry and SpiNA design have repeatedly delivered greater potency and more durable effects than industry-leading siRNA designs. The company is continuing to advance hepatic and extrahepatic RNAi, RNA editing and emerging bifunctional modalities, with further platform updates planned for Research Day.
- New Chief Business Officer and Partnering EffortsMonika Vnuk joined Wave as Chief Business Officer from Sanofi. She said her immediate focus is on ongoing partnering discussions and developing mid- and long-term plans across the clinical portfolio, preclinical portfolio and platform.
- Potential European Registration Opportunity for WVE-006Management said European registration plans are included in the overall strategy and noted that the European Union has previously accepted CT densitometry as a primary endpoint for a pivotal study, which could provide a rapid path forward there.
DE:0VS Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 04, 2027 | 2026 (Q4) | -0.29- | -0.27 | ― | ― |
| Oct 27, 2026 | 2026 (Q3) | -0.29-0.27 | -0.29 | 6.25% (+0.02) | |
| Jul 30, 2026 | 2026 (Q2) | -0.27-0.30 | -0.28 | -9.68% (-0.03) | |
| Apr 28, 2026 | 2026 (Q1) | -0.29-0.12 | -0.26 | 55.17% (+0.14) | |
| Feb 26, 2026 | 2025 (Q4) | -0.24-0.27 | 0.16 | -266.67% (-0.43) | |
| Nov 10, 2025 | 2025 (Q3) | -0.27-0.29 | -0.42 | 31.91% (+0.13) | |
| Jul 30, 2025 | 2025 (Q2) | -0.25-0.28 | -0.22 | -24.00% (-0.05) | |
| May 08, 2025 | 2025 (Q1) | -0.23-0.26 | -0.21 | -20.83% (-0.04) | |
| Mar 04, 2025 | 2024 (Q4) | -0.160.16 | -0.13 | 220.00% (+0.29) | |
| Nov 12, 2024 | 2024 (Q3) | -0.25-0.42 | 0.06 | -771.43% (-0.48) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed