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Investing.com -- Wave Life Sciences Ltd. (NASDAQ:WVE) stock surged 20% following the release of encouraging first clinical data from its WVE-007 program showing target engagement, while the company also announced a new PNPLA3 RNA editing program.
The clinical-stage biotechnology company, which focuses on RNA medicines, reported that its WVE-007 therapy demonstrated potent, dose-dependent reductions in activin E levels. At 30 days, the company observed reductions of 56% at the 75mg dose, 75% at the 240mg dose, and 85% at the 400mg dose. Notably, the 75mg cohort maintained approximately 40% reduction in activin E levels at day 169, suggesting potential for once or twice yearly dosing.
The WVE-007 program aims to achieve healthy weight loss through fat reduction while preserving muscle mass. Safety data was reportedly clean with no discontinuations, and dose escalation is continuing to a 600mg cohort.
Wave Life Sciences also announced PNPLA3 as the target for its next RNA editing program, which potentially addresses a market of 9 million patients in the US and Europe.
Bill Maughan of Clear Street commented, "While early, this is about as positive an update as we could have hoped for from the program, with safety, biomarker efficacy, and a favorable dosing schedule all achieved, setting the stock up for another potential move up on weight loss data later this quarter."
The next major catalyst for the company will be weight loss data from the WVE-007 program expected in the fourth quarter of 2025 or first quarter of 2026.