Wave Life Sciences: GSK selected fourth collaboration program with up to $2.8B milestones

 

Wave Life Sciences posts Q4 2025 results and says GSK selected fourth collaboration program with up to $2.8B milestones, royalties

• On Q4 2025 call, Wave said partner GSK selected fourth collaboration program, enabling up to $2.8B milestones and royalties.
• Growth Drivers: 007 obesity program, 006 AATD RNA editing, and expanding multi-program GSK collaboration.
• Investor Takeaway: Story is now pipeline-driven, especially WVE-007 obesity and WVE-006 AATD.
• Investor Takeaway: Biggest positive – human 007 data shows GLP‑1–like fat loss with muscle preservation.
• Key Metrics/Tone: 007 showed 4% total and 9.2% visceral fat reduction; management tone confident.

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