Stock Track | WAVE Life Sciences Plunges on Wider-Than-Expected Q3 Loss

Stock Track11-12

Shares of WAVE Life Sciences Corp. plunged more than 5% in pre-market trading on Monday after the biopharmaceutical company reported a wider-than-expected loss for the third quarter of 2024.

WAVE posted a net loss of $0.47 per share for Q3, missing analysts' consensus estimate of a $0.28 per share loss by a wide margin. The company struggled with higher costs related to research and development as it progresses its pipeline of nucleic acid therapeutic candidates.

The disappointing earnings results appear to be weighing heavily on WAVE's stock price ahead of the market open. Shares plunged as much as 5.41% in pre-market action following the earnings release, as investors reacted negatively to the larger-than-expected quarterly losses.

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