Wave Life Sciences, Inc.

For the period ended Sep 30, 2026. Filed Oct 27, 2026.

About this filing

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.

Sep 30, 2026 · Filed Oct 27, 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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Contents

Unaudited Consolidated Statements of Operations and Comprehensive Loss

(In thousands, except share and per share amounts)

	Three Months Ended September 30,		Nine Months Ended September 30,
	2026	2025	2026	2025
Revenue	$13,158	$7,608	$53,676	$25,482
Operating expenses:
Research and development	53,843	45,874	152,576	129,965
General and administrative	25,362	18,087	72,246	54,433
Total operating expenses	79,205	63,961	224,822	184,398
Loss from operations	(66,047)	(56,353)	(171,146)	(158,916)
Other income, net:
Interest income	4,378	2,177	14,391	7,424
Other income (expense)	(243)	324	(599)	293
Total other income, net	4,135	2,501	13,792	7,717
Loss before income taxes	(61,912)	(53,852)	(157,354)	(151,199)
Income tax benefit	—	—	—	—
Net loss	$(61,912)	$(53,852)	$(157,354)	$(151,199)
Net loss per share—basic and diluted	$(0.30)	$(0.32)	$(0.78)	$(0.92)
Weighted-average common stock used in computing net loss per share—basic and diluted	204,222,255	167,739,208	202,814,464	164,773,525
Other comprehensive loss:
Net loss	$(61,912)	$(53,852)	$(157,354)	$(151,199)
Foreign currency translation gain (loss)	(125)	(29)	(6)	72
Unrealized loss on marketable securities	(268)	—	(309)	—
Comprehensive loss	$(62,305)	$(53,881)	$(157,669)	$(151,127)

UNAUDITED CONSOLIDATED STATEMENTS OF SERIES A PREFERRED STOCK AND STOCKHOLDERS’ EQUITY

Series APreferred Stock · Common Stock · AdditionalPaid-In- · AccumulatedOtherComprehensive · Accumulated · TotalStockholders’
	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 common stock pursuant to the “at-the-market” equity program, net	—	—	97,375	1,262	—	—	—	1,262
Stock-based compensation	—	—	—	—	4,953	—	—	4,953
Vesting of RSUs	—	—	18,019	—	—	—	—	—
Option exercises	—	—	853,881	2,451	—	—	—	2,451
Issuance of common stock 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
Issuance of common stock pursuant to the “at-the-market” equity program, net	—	—	1,388,934	11,099	—	—	—	11,099
Stock-based compensation	—	—	—	—	6,196	—	—	6,196
Vesting of RSUs	—	—	40,270	—	—	—	—	—
Option exercises	—	—	150,775	594	—	—	—	594
Other comprehensive income	—	—	—	—	—	43	—	43
Net loss	—	—	—	—	—	—	(50,469)	(50,469)
Balance at June 30, 2025	3,901,348	$7,874	155,673,292	$1,191,029	$167,603	$(161)	$(1,219,205)	$139,266
Issuance of common stock pursuant to the “at-the-market” equity program, net	—	—	3,934,128	30,212	—	—	—	30,212
Stock-based compensation	—	—	—	—	6,472	—	—	6,472
Vesting of RSUs	—	—	156,996	—	—	—	—	—
Option exercises	—	—	458,196	2,041	—	—	—	2,041
Issuance of common stock under the ESPP	—	—	65,869	439	—	—	—	439
Other comprehensive loss	—	—	—	—	—	(29)	—	(29)
Net loss	—	—	—	—	—	—	(53,852)	(53,852)
Balance at September 30, 2025	3,901,348	$7,874	160,288,481	$1,223,721	$174,075	$(190)	$(1,273,057)	$124,549

UNAUDITED CONSOLIDATED STATEMENTS OF SERIES A PREFERRED STOCK AND STOCKHOLDERS’ EQUITY CONTINUED

Series APreferred Stock · Common Stock · AdditionalPaid-In- · AccumulatedOtherComprehensive · Accumulated · TotalStockholders’
	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 stock to common stock	(3,901,348)	(7,874)	3,901,348	7,874	—	—	—	7,874
Stock-based compensation	—	—	—	—	9,063	—	—	9,063
Vesting of RSUs	—	—	242,509	—	—	—	—	—
Option exercises	—	—	442,967	1,934	—	—	—	1,934
Issuance of common stock 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
Conversion of pre-funded warrants to common stock	—	—	822,638	—	—	—	—	—
Stock-based compensation	—	—	—	—	10,733	—	—	10,733
Vesting of RSUs	—	—	40,949	—	—	—	—	—
Option exercises	—	—	76,469	330	—	—	—	330
Other comprehensive income	—	—	—	—	—	82	—	82
Net loss	—	—	—	—	—	—	(69,355)	(69,355)
Balance at June 30, 2026	—	$—	193,277,622	$1,627,209	$248,161	$(172)	$(1,421,678)	$453,520
Conversion of pre-funded warrants to common stock	—	—	3,683,883	—	—	—	—	—
Exchange of ordinary shares for shares of common stock due to the Redomiciliation	—	—	—	(1,627,394)	1,627,394	—	—	—
Stock-based compensation	—	—	—	—	10,288	—	—	10,288
Vesting of RSUs	—	—	166,370	—	—	—	—	—
Option exercises	—	—	19,562	37	51	—	—	88
Issuance of common stock under the ESPP	—	—	66,146	345	—	—	—	345
Other comprehensive loss	—	—	—	—	—	(393)	—	(393)
Net loss	—	—	—	—	—	—	(61,912)	(61,912)
Balance at September 30, 2026	—	$—	197,213,583	$197	$1,885,894	$(565)	$(1,483,590)	$401,936

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.