What is Wave Life Sciences's R&D?

Wave Life Sciences (WVE) reported R&D of $47.44M in Q1 2026.

How has Wave Life Sciences's R&D changed year-over-year?

Wave Life Sciences's R&D increased by 16.8% year-over-year, from $40.62M to $47.44M.

What is the long-term trend for Wave Life Sciences's R&D?

Over 4 years (2021 to 2025), Wave Life Sciences's R&D has grown at a 10.7% compound annual growth rate (CAGR), from $121.88M to $182.78M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Wave Life Sciences WVE R&D

R&D at other companies

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ALN

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Beam TherapeuticsBEAM

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Dyne Therapeutics, Inc.DYN

$100.89M-5.2%

Segments

By product

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Other Research And Development Expenses Including PNPLA3Additional Preclinical Programs PRISM$36.65M—

INHBE Program$4.84M+90.5%

DMD Programs$4.14M—

AATD Program$1.75M+21.0%

HD Programs$63K—

Other financials

Income statement

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Revenue$38.2M+317%

Operating income-$31.3M+37.2%

Net income-$26.1M+44.4%

EPS (diluted)-$0.13+55.2%

Balance sheet

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Cash & equivalents$544.6M+124%

Total debt$15.7M-33.4%

Total equity$511.7M+198%

Total assets$583.5M+102%

Cash flow

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Operating cash flow-$59.6M+5.5%

CapEx$438.0K+165%

Free cash flow-$60.0M+5.1%

Valuation

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Market cap$1.14B+13.0%

Enterprise value$615.92M-22.3%

P/S15.1×-12.2×

Profitability

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Operating margin-75.7%-33.6pp

Net margin-66.5%-29.9pp

FCF margin-27.2%-12.6pp

Returns & leverage

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Return on equity-53.7%—

Debt / equity0×-0.1×

Current ratio11.3×+8.3×

Where this comes from

Reported directly by Wave Life Sciences in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: Wave Life Sciences’s 10-Q, filed April 28, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Wave Life Sciences's R&D?: Wave Life Sciences (WVE) reported R&D of $47.44M in Q1 2026.
How has Wave Life Sciences's R&D changed year-over-year?: Wave Life Sciences's R&D increased by 16.8% year-over-year, from $40.62M to $47.44M.
What is the long-term trend for Wave Life Sciences's R&D?: Over 4 years (2021 to 2025), Wave Life Sciences's R&D has grown at a 10.7% compound annual growth rate (CAGR), from $121.88M to $182.78M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.