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Wave Life Sciences WVE DMD Programs — 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%
AATD Program
$1.75M+21.0%
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 / 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 DMD programs — research and development expense?
Wave Life Sciences (WVE) reported DMD programs — research and development expense of $4.14M in Q1 2026.
How has Wave Life Sciences's DMD programs — research and development expense changed year-over-year?
Wave Life Sciences's DMD programs — research and development expense increased by 36.2% year-over-year, from $3.04M to $4.14M.
What is the long-term trend for Wave Life Sciences's DMD programs — research and development expense?
Over 2 years (2022 to 2024), Wave Life Sciences's DMD programs — research and development expense has grown at a 144.0% compound annual growth rate (CAGR), from $2.61M to $15.54M.
What does DMD programs — research and development expense mean?
This metric represents the total operating costs directly attributable to the research and development activities for Duchenne Muscular Dystrophy (DMD) therapeutic programs. It captures the investment in clinical trials, preclinical studies, and specialized chemistry innovation required to advance these specific RNA-based candidates through the development pipeline. Monitoring this expense provides insight into the company's capital allocation strategy and the pace of clinical progression for its DMD-focused portfolio.