Loading…
Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's medicines platform, PRISM combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders. It is developing WVE-006, a GalNAc-conjugated RNA editing oligonucleotide for the treatment of alpha-1 antitrypsin deficiency; WVE-007, a GalNAc-conjugated small interfering RNA designed to silence INHBE mRNA targeting obesity; WVE-008, a GalNAc-conjugated RNA editing oligonucleotide for the treatment of liver disease; WVE-N531, an exon splicing oligonucleotide for the treatment of Duchenne muscular dystrophy; and WVE-003, an allele-selective oligonucleotide for the treatment of Huntington's disease (HD). The company has collaboration agreements with GlaxoSmithKline for the research, development, and commercialization of oligonucleotide therapeutics; Takeda Pharmaceutical Company Limited for the research, development, and commercialization of oligonucleotide therapeutics for disorders of the Central Nervous System; and Asuragen, Inc. for the development and potential commercialization of companion diagnostics for investigational allele-selective therapeutic programs targeting HD. Wave Life Sciences Ltd. was founded in 2012 and is based in Singapore.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $43M | $-207M | $-204M | $-188M | -39.4% | -60.5% | - |
| 2024 | $108M | $-102M | $-97M | $-152M | -46.3% | -4.4% | - |
| 2023 | $113M | $-59M | $-58M | $-21M | -145.1% | 3005.1% | - |
| 2022 | $4M | $-153M | $-162M | $-129M | 358.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 3.65 | 113.31 | 108.30 | 42.73 |
| Operating Expense | 166.37 | 181.30 | 218.71 | 258.11 |
| Operating Income | -162.72 | -68 | -110.40 | -215.38 |
| EBITDA | -152.61 | -58.79 | -101.74 | -206.53 |
| EBIT | -162.72 | -68 | -110.40 | -215.38 |
| Pretax Income | -161.14 | -58.19 | -97.01 | -204.38 |
| Tax Provision | 0.68 | -0.68 | 0 | 0 |
| Net Income | -161.82 | -57.51 | -97.01 | -204.38 |
| Net Income Common Stockholders | -161.82 | -57.51 | -97.01 | -204.38 |
| Total Expenses | 166.37 | 181.30 | 218.71 | 258.11 |
| Research And Development | 115.86 | 130.01 | 159.68 | 182.78 |
| Selling General And Administration | 50.51 | 51.29 | 59.02 | 75.33 |
| Normalized EBITDA | -154.18 | -66.72 | -111.90 | -217.01 |
| Normalized Income | -163.13 | -65.35 | -107.17 | -214.86 |
| Basic EPS | -2.05 | -0.54 | -0.70 | -1.21 |
| Diluted EPS | -2.05 | -0.54 | -0.70 | -1.21 |
| Tax Effect Of Unusual Items | 0.27 | 0.09 | 0 | 0 |
| Tax Rate For Calcs | 0.17 | 0.01 | 0 | 0 |
| Total Unusual Items | 1.57 | 7.93 | 10.16 | 10.48 |
| Total Unusual Items Excluding Goodwill | 1.57 | 7.93 | 10.16 | 10.48 |
| Net Income From Continuing Operation Net Minority Interest | -161.82 | -57.51 | -97.01 | -204.38 |
| Reconciled Depreciation | 10.11 | 9.21 | 8.66 | 8.85 |
| Net Income From Continuing And Discontinued Operation | -161.82 | -57.51 | -97.01 | -204.38 |
| Total Operating Income As Reported | -162.72 | -68 | -110.40 | -215.38 |
| Diluted Average Shares | 78.86 | 106.10 | 138.28 | 168.65 |
| Basic Average Shares | 78.86 | 106.10 | 138.28 | 168.65 |
| Diluted NI Availto Com Stockholders | -161.82 | -57.51 | -97.01 | -204.38 |
| Net Income Including Noncontrolling Interests | -161.82 | -57.51 | -97.01 | -204.38 |
| Net Income Continuous Operations | -161.82 | -57.51 | -97.01 | -204.38 |
| Other Income Expense | 1.58 | 9.81 | 13.39 | 11.01 |
| Other Non Operating Income Expenses | 0.01 | 1.88 | 3.23 | 0.53 |
| Gain On Sale Of Security | 1.57 | 7.93 | 10.16 | 10.48 |
| General And Administrative Expense | 50.51 | 51.29 | 59.02 | 75.33 |
| Other Gand A | 50.51 | 51.29 | 59.02 | 75.33 |
| Operating Revenue | 3.65 | 113.31 | 108.30 | 42.73 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Wave Life Sciences Ltd.this co. | WVE | $1.4B | - | 2.55 | -39.4% | -4.28 |
| AtriCure, Inc. | ATRC | $1.4B | - | 2.77 | 0.0% | 114.65 |
| Biohaven Ltd. | BHVN | $1.4B | - | 23.47 | -1418.8% | -1.93 |
| NovoCure Limited | NVCR | $1.4B | - | 3.94 | -40.0% | -8.57 |
| Ardent Health, Inc. | ARDT | $1.4B | 10.03 | 1.07 |
| 8.1% |
| 7.02 |
| Pulse Biosciences, Inc. | PLSE | $1.4B | - | 17.00 | -90.2% | -17.15 |
| Viridian Therapeutics, Inc. | VRDN | $1.4B | - | 2.30 | -47.4% | -1.84 |
| MBX Biosciences, Inc. | MBX | $1.4B | - | 3.48 | -23.6% | -10.08 |
| Clover Health Investments, Corp. | CLOV | $1.4B | - | 4.34 | -27.7% | -14.49 |
| Peer Median | - | 10.03 | 3.71 | -33.9% | -5.25 | |