Wave Life Sciences Stock Climbs on RNA Editing Progress -- WSJ

Dow Jones10-17

By Joseph Walker

Wave Life Sciences shares soared more than 70% on Wednesday after the biotech firm said it had successfully edited the RNA of patients with a genetic disorder that can lead to lung or liver disease.

The early-stage data furnishes proof that Wave's approach to editing RNA could work in other diseases, and came as a pleasant surprise given that some analysts had expected that multiple doses of the treatment, codenamed WVE-006, would be needed to have a pronounced effect.

Wave shares jumped to $14.65 in midday trading, up from $8.56 at Tuesday's close, at one point adding $993 million in market value. Wave shares have more than doubled over the past 12 months.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

October 16, 2024 13:16 ET (17:16 GMT)

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