Companies /Healthcare
Wave Life Sciences Ltd
NASDAQ: WVE Biotechnology
$3.63
▲ $0.18 (+5.30%) today
Markets open · 2:48pm ET

Wave Life Sciences (WVE) Q3 2026 Earnings

Reported Oct 27, 2026, 7:35am ET · SEC source
$-0.30
Beat +6.45%
EPS · est. $-0.32 GAAP
$13.2M
Beat +191.92%
Revenue · est. $4.5M
2 quarters
Consecutive EPS beats

How Did WVE Stock React to Q3 2026 Earnings?

% change · around the report
−5%0+5%+10%Oct 27Oct 28report 7:35am ETearnings+0.5%+8.9%
−5%0+5%+10%Oct 27Oct 28earnings+0.5%+8.9%
WVE +8.9%S&P 500 +0.5%
−5%0+5%+10%Oct 27Oct 28report 7:35am ETearnings+1.0%+8.9%
−5%0+5%+10%Oct 27Oct 28earnings+1.0%+8.9%
WVE +8.9%NASDAQ +1.0%
−5%0+5%Oct 26Oct 28report 7:35am ETearnings+0.6%+4.8%
−5%0+5%Oct 26Oct 28earnings+0.6%+4.8%
WVE +4.8%S&P 500 +0.6%
−5%0+5%Oct 26Oct 28report 7:35am ETearnings+1.4%+4.8%
−5%0+5%Oct 26Oct 28earnings+1.4%+4.8%
WVE +4.8%NASDAQ +1.4%
+7.48%
Day of report
+7.10%
Next session

Did WVE Beat Earnings? Q3 2026 Results

Yes. Wave Life Sciences reported Q3 2026 earnings of $-0.30 a share on Oct 27, 2026, beating the $-0.32 consensus estimate by 6.5%. Revenue was $13.2M against a $4.5M estimate.

Wave Life Sciences delivered a notably strong third quarter, beating Wall Street on both the top and bottom lines as a pivotal GSK collaboration milestone supercharged revenue. The clinical-stage RNA medicines company posted GAAP revenue of $13.16 million for Q3 2026, a 73.0% jump from $7.61 million a year ago and well ahead of the $4.51 million consensus estimate, a beat of 191.92% driven largely by a $12.00 million milestone payment from its GSK partnership following selection of a GalNAc-siRNA development candidate. On a GAAP basis, the net loss narrowed to $0.30 per share, edging past the $0.32 analyst estimate by 6.45%, even as R&D spending climbed to $53.84 million to fund advancing programs in alpha-1 antitrypsin deficiency, obesity, and liver disease. With $431.00 million in cash providing runway into Q3 2028, plus an additional $12.00 million GSK milestone expected in Q4 2026, management heads into a catalyst-rich stretch that includes multiple data readouts and a CTA filing for WVE-008, with William Blair recently initiating coverage at Outperform, citing what it views as an undervalued pipeline.

Key Takeaways
  • Revenue increase driven by GSK collaboration milestone recognition
  • Higher R&D expenses reflecting advancement of WVE-007, WVE-006, and WVE-008 clinical programs
  • Increased G&A expenses due to organizational growth including new Chief Business Officer role
  • Interest income of $4.4 million partially offsetting operating losses

“Following positive FDA feedback, planning is underway for our potentially registrational trial of WVE-006 for AATD, which we believe offers an efficient path to potential full and accelerated approval, without the need for a separate confirmatory trial. Our growing body of clinical data support WVE-006's potential to offer a new standard of care for individuals living with AATD.”

Wave Life Sciences CEO, on the earnings call

What Is Wave Life Sciences's Outlook?

Wave expects its cash, cash equivalents, and marketable securities of $431.0 million (as of September 30, 2026) to fund operations into Q3 2028, not including potential future GSK milestone and other collaboration payments. An additional $12 million GSK milestone will be received in Q4 2026. Key upcoming milestones include: data from the WVE-007 Phase 1 600 mg SAD cohort (Q4 2026), initiation of a WVE-007 post-incretin maintenance trial (Q4 2026), WVE-006 600 mg monthly multidose cohort data (Q4 2026), and a CTA filing for WVE-008 (Q4 2026). Planning is underway for the WVE-006 registrational trial in AATD with an interim analysis for potential accelerated approval.

WVE YoY Financials

Q3 2026 vs Q3 2025 · SEC filings Q3 2025 Q3 2026
$-90,000,000$-60,000,000$-30,000,000$0$7.6M$13.2MRevenue$-79,766,908$-66,047,000Operating Income$-72,811,949$-61,912,000Net Income
$-90,000,000$-60,000,000$-30,000,000$0RevenueOperating IncomeNet Income
WVE income statement, Q3 2026 versus Q3 2025
Metric Q3 2026 Q3 2025 Year over year
Revenue $13.2M $7.6M +73.0%
Operating Income −$66.0M −$79.8M −17.2%
Net Income −$61.9M −$72.8M −15.0%

When Does Wave Life Sciences Report Next?

Expected report date

Figures from SEC filings and company reports. Not investment advice.