Wave Life Sciences Ltd.
For the period ended Mar 31, 2026. Filed Apr 28, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed Apr 28, 2026
WVE$3.41-2.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except share and per share amounts)
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Revenue | $38,246 | $9,175 |
| Operating expenses: | ||
| Research and development | 47,440 | 40,622 |
| General and administrative | 22,104 | 18,357 |
| Total operating expenses | 69,544 | 58,979 |
| Loss from operations | (31,298) | (49,804) |
| Other income, net: | ||
| Interest income | 5,291 | 2,875 |
| Other income (expense), net | (80) | 51 |
| Total other income, net | 5,211 | 2,926 |
| Loss before income taxes | (26,087) | (46,878) |
| Income tax benefit | — | — |
| Net loss | $(26,087) | $(46,878) |
| Net loss per share attributable to ordinary shareholders—basic and diluted | $(0.13) | $(0.29) |
| Weighted-average ordinary shares used in computing net loss per share attributable to ordinary shareholders—basic and diluted | 200,167,869 | 162,572,026 |
| Other comprehensive income (loss): | ||
| Net loss | $(26,087) | $(46,878) |
| Foreign currency translation gain (loss) | (4) | 58 |
| Comprehensive loss | $(26,091) | $(46,820) |
UNAUDITED CONSOLIDATED STATEMENTS OF SERIES A PREFERRED SHARES AND SHAREHOLDERS’ EQUITY
(In thousands, except share amounts)
| Series APreferred Shares · Ordinary Shares · AdditionalPaid-In- · AccumulatedOtherComprehensive · Accumulated · TotalShareholders’ | ||||||||
|---|---|---|---|---|---|---|---|---|
| Shares | Amount | Shares | Amount | Capital | Loss | Deficit | Equity | |
| Balance at December 31, 2024 | 3,901,348 | $7,874 | 153,037,286 | $1,175,181 | $156,454 | $(262) | $(1,121,858) | $209,515 |
| Issuance of ordinary shares pursuant to the “at-the-market” equity program, net | — | — | 97,375 | 1,262 | — | — | — | 1,262 |
| Share-based compensation | — | — | — | — | 4,953 | — | — | 4,953 |
| Vesting of RSUs | — | — | 18,019 | — | — | — | — | — |
| Option exercises | — | — | 853,881 | 2,451 | — | — | — | 2,451 |
| Issuance of ordinary shares under the ESPP | — | — | 86,752 | 442 | — | — | — | 442 |
| Other comprehensive income | — | — | — | — | — | 58 | — | 58 |
| Net loss | — | — | — | — | — | — | (46,878) | (46,878) |
| Balance at March 31, 2025 | 3,901,348 | $7,874 | 154,093,313 | $1,179,336 | $161,407 | $(204) | $(1,168,736) | $171,803 |
| Series APreferred Shares · Ordinary Shares · AdditionalPaid-In- · AccumulatedOtherComprehensive · Accumulated · TotalShareholders’ | ||||||||
|---|---|---|---|---|---|---|---|---|
| Shares | Amount | Shares | Amount | Capital | Loss | Deficit | Equity | |
| Balance at December 31, 2025 | 3,901,348 | $7,874 | 187,660,263 | $1,616,478 | $228,365 | $(250) | $(1,326,236) | $518,357 |
| Conversion of Series A preferred shares to ordinary shares | (3,901,348) | (7,874) | 3,901,348 | 7,874 | — | — | — | 7,874 |
| Share-based compensation | — | — | — | — | 9,063 | — | — | 9,063 |
| Vesting of RSUs | — | — | 242,509 | — | — | — | — | — |
| Option exercises | — | — | 442,967 | 1,934 | — | — | — | 1,934 |
| Issuance of ordinary shares under the ESPP | — | — | 90,479 | 593 | — | — | — | 593 |
| Other comprehensive loss | — | — | — | — | — | (4) | — | (4) |
| Net loss | — | — | — | — | — | — | (26,087) | (26,087) |
| Balance at March 31, 2026 | — | $— | 192,337,566 | $1,626,879 | $237,428 | $(254) | $(1,352,323) | $511,730 |
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