The Healthcare Standard

Wipeout In Wave Life Sciences

Wave Life Sciences closed down over 55% on Dec. 16 after the company announced that it planned to halt development of its exon-skipping DMD treatment suvodirsen.

While the news trimmed over 713 million from the company’s market cap, its enterprise value remains at nearly 387 million with $5.11 per share in cash after backing out debt.

As of the end of third quarter of this year, Wave, once the largest single holding of Peter Kolchinsky’s RA Capital hedge fund, still accounted for 9.33% of the fund.

Now that their lead drug in development has been shut down, the company’s pipeline just consists of two Hungtinton’s compounds in Phase 1b/2a and several pre-clinical candidates.

 

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