# Wave Life Sciences Ltd. (WVE)

**Exchange:** NASDAQ  
**Sector:** Healthcare  
**Market cap:** $975M  
**Price:** $5.78 (+2.12%)

> Wave Life Sciences Ltd. is a biotechnology company focused on unlocking the potential of RNA medicines, specifically oligonucleotides targeting ribonucleic acid to transform human health. It leverages its proprietary PRISM platform, which integrates multiple RNA-targeting modalities such as RNA editing, splicing, antisense silencing, and RNA interference, along with chemistry innovation and insights from human genetics. This enables the development of first- or best-in-class therapeutics for both rare and prevalent disorders. The company's pipeline features clinical programs addressing Alpha-1 antitrypsin deficiency, Duchenne muscular dystrophy, and Huntington’s disease, as well as preclinical efforts in obesity. These initiatives target diseases originating in the liver, muscle, central nervous system, and other tissues, aiming to deliver disease-modifying therapies with life-changing potential. Founded in 2012 and headquartered in Cambridge, Massachusetts, with operations in Singapore, Wave Life Sciences Ltd. plays a key role in advancing precision medicine for genetic conditions through innovative RNA-based approaches.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $43M | — | -$215M | -$204M | — |
| 2024 | $108M | — | -$110M | -$97M | — |
| 2023 | $113M | — | -$68M | -$58M | — |
| 2022 | $4M | — | -$163M | -$162M | — |
| 2021 | $41M | — | -$127M | -$122M | — |
| 2020 | $20M | — | -$153M | -$150M | — |
| 2019 | $16M | — | -$208M | -$194M | — |
| 2018 | $14M | — | -$160M | -$147M | — |
| 2017 | $4M | — | -$102M | -$102M | — |
| 2016 | $1M | — | -$56M | -$56M | — |
| 2015 | $152,000 | — | -$19M | -$19M | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $638M | $112M | $518M | $602M | — |
| 2024 | $352M | $135M | $210M | $302M | — |
| 2023 | $275M | $227M | $40M | $200M | — |
| 2022 | $146M | $184M | -$45M | $88M | — |
| 2021 | $207M | $167M | $32M | $151M | — |
| 2020 | $279M | $189M | $83M | $184M | — |
| 2019 | $284M | $213M | $64M | $147M | — |
| 2018 | $296M | $215M | $73M | $175M | — |
| 2017 | $182M | $34M | $140M | $143M | — |
| 2016 | $165M | $22M | $135M | $150M | — |
| 2015 | $165M | $4M | $153M | $161M | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$187M | $718,000 | -$188M |
| 2024 | -$151M | $938,000 | -$152M |
| 2023 | -$19M | $1M | -$21M |
| 2022 | -$128M | $1M | -$129M |
| 2021 | -$89M | $560,000 | -$90M |
| 2020 | -$116M | $1M | -$117M |
| 2019 | -$188M | $4M | -$192M |
| 2018 | -$23M | $10M | -$33M |
| 2017 | -$84M | $19M | -$103M |
| 2016 | -$32M | $6M | -$37M |

Source: [CompaniesByCap](https://companiesbycap.com/company/WVE)