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Wave Life Sciences WVE AATD Program — Research And Development Expense

Other product segments

Other Research And Development Expenses Including PNPLA3Additional Preclinical Programs PRISM
$36.65M
INHBE Program
$4.84M+90.5%
DMD Programs
$4.14M
HD Programs
$63K

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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 / equity-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 AATD program — research and development expense?
Wave Life Sciences (WVE) reported AATD program — research and development expense of $1.75M in Q1 2026.
How has Wave Life Sciences's AATD program — research and development expense changed year-over-year?
Wave Life Sciences's AATD program — research and development expense increased by 21.0% year-over-year, from $1.45M to $1.75M.
What is the long-term trend for Wave Life Sciences's AATD program — research and development expense?
Over 3 years (2022 to 2025), Wave Life Sciences's AATD program — research and development expense has grown at a 14.9% compound annual growth rate (CAGR), from $3.76M to $5.71M.
What does AATD program — research and development expense mean?
This metric represents the total operating costs directly attributable to the research and development activities of the Alpha-1 Antitrypsin Deficiency (AATD) therapeutic program. It captures expenditures related to clinical trials, preclinical studies, and scientific innovation specifically focused on advancing this pipeline asset. Monitoring this expense provides insight into the company's capital allocation strategy and the pace of development for this specific genetic disorder treatment.