Wave Life Sciences (WVE) stock plummeted 5.08% on Wednesday in the intraday trading session, despite reporting a significant revenue surge in its Q4 2024 earnings.
The biotechnology company, focused on developing RNA medicines, saw its revenue climb to $83.7 million in Q4 2024, up from the previous quarter. This was driven by recognition of deferred revenue from its collaboration with Decata. However, the company's expenses also increased substantially, raising concerns among investors.
Research and development expenses soared to $44.6 million in Q4 2024, primarily due to increased spending on Wave's INHBE, AATD, and DMD programs. General and administrative expenses also rose to $16.1 million during the same period. Despite the revenue boost, Wave Life Sciences reported a net loss of $96.7 million for the full year 2024, indicating ongoing financial challenges.
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