On 05 March 2020, Wave Life Sciences Ltd. (NASDAQ: WVE) changed -0.16% to recent value of $12.28. The stock transacted 939653 shares during most recent day however it has an average volume of 973.94K shares. It spotted trading -74.03% off 52-week high price. On the other end, the stock has been noted 85.78% away from the low price over the last 52-weeks.
Wave Life Sciences Ltd. (WVE) recently reported financial results for the fourth quarter and full year ended December 31, 2019 and provided a business update.
Fourth Quarter and Full Year 2019 Financial Results and Financial Guidance
Wave stated a net loss of $56.8M in the fourth quarter of 2019 as contrast to $37.9M in the same period in 2018. The company stated a net loss of $193.6M for the year ended December 31, 2019 as contrast to $146.7M for the year ended December 31, 2018. The increase in net loss in the fourth quarter and the year ended December 31, 2019 was largely driven by increased research and development efforts and continued organizational growth, both of which included costs and efforts, including manufacturing, in preparation for the potential commercialization of suvodirsen.
Research and development expenses were $49.1M in the fourth quarter of 2019 as contrast to $39.8M in the same period in 2018. Research and development expenses for the full year were $175.4M as contrast to $134.4M for the previous year. The increase in research and development expenses in the fourth quarter and full year was primarily Because of increased external expenses related to our clinical activities, including our HD programs and our now discontinued DMD programs, as well as increased investments in PRISM and other research and development expenses.
General and administrative expenses were $13.8M for the fourth quarter of 2019 as contrast to $12.8M for the same period in the previous year. General and administrative expenses were $48.9M in 2019 as contrast to $39.5M in 2018. The increase in general and administrative expenses in the fourth quarter and full year was mainly driven by continued organizational growth to support Wave’s 2019 corporate goals.
Wave ended 2019 with $147.2M in cash and cash equivalents as contrast to $174.8M as of December 31, 2018. The decrease in cash and cash equivalents was primarily the result of Wave’s year-to-date net loss of $193.6M, partially offset by the $161.8M in net proceeds from the January 2019 follow-on offering.
Wave expects that its existing cash and cash equivalents, together with predictable and committed cash from existing collaborations, will enable Wave to fund its operating and capital expenditure requirements into the third quarter of 2021.
The price moved ahead of 42.36% from the mean of 20 days, 50.99% from mean of 50 days SMA and performed -38.05% from mean of 200 days price. Company’s performance for the week was 51.23%, 46.54% for month and YTD performance remained 53.21%.