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Wave Life Sciences WVE INHBE Program — Research And Development Expense

Other product segments

Other Research And Development Expenses Including PNPLA3Additional Preclinical Programs PRISM
$36.65M—
DMD Programs
$4.14M—
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 INHBE program — research and development expense?
Wave Life Sciences (WVE) reported INHBE program — research and development expense of $4.84M in Q1 2026.
How has Wave Life Sciences's INHBE program — research and development expense changed year-over-year?
Wave Life Sciences's INHBE program — research and development expense increased by 90.5% year-over-year, from $2.54M to $4.84M.
What is the long-term trend for Wave Life Sciences's INHBE program — research and development expense?
Over 2 years (2023 to 2025), Wave Life Sciences's INHBE program — research and development expense has grown at a 728.4% compound annual growth rate (CAGR), from $229K to $15.72M.
What does INHBE program — research and development expense mean?
This metric represents the direct costs and allocated resources dedicated to the research, preclinical development, and clinical advancement of the INHBE-targeting therapeutic program. It captures the investment intensity required to progress this specific RNA-based candidate through the drug development pipeline. Monitoring this expense helps investors assess the company's capital allocation strategy and the pace of innovation for this particular therapeutic asset.