Wave Life Sciences shares plummet on weight loss therapy update

Wave Life Sciences (NASDAQ:WVE) saw its shares fall more than 52% following the release of six-month Phase 1 data for WVE-007, its investigational INHBE GalNAc-siRNA therapy, despite results showing improvements in body composition and continued safety and tolerability. The Phase 1 INLIGHT trial reported that a single 240 mg dose of WVE-007 produced placebo-adjusted reductions of 14.3% in visceral fat, 5% in total fat, a 2% increase in lean mass, a 3.3% reduction in waist circumference, and a 0.9% reduction in body weight after six months.