Wave Life Sciences Stock Surges On RNA Editing Breakthrough: Retail Turns Extremely Bullish

Shares of biotech company Wave Life Sciences ($WVE) surged as much as 74% on Wednesday after it announced a breakthrough in RNA editing to treat certain lung and liver-related genetic disorders. The announcement led to a spike in retail sentiment on Stocktwits.

Cambridge, Mass-based Wave claims it has the first positive proof-of-mechanism data from its ongoing “Phase 1b/2a RestorAATion-2” study that uses RNA editing of the human genome to treat certain AATD-related lung and liver diseases.

Retail sentiment was ‘extremely bullish’ (97/100) following the news with accompanying message volumes at ‘extremely high’ (96/100) on Stocktwits.

“Achieving the first-ever therapeutic RNA editing in humans is a significant milestone for our organization, for our GSK collaboration, and for the entire oligonucleotide field. It also unlocks and derisks Wave’s RNA editing platform, in light of the continued strong clinical translation of our proprietary best-in-class chemistry, including PN, stereochemistry and our N3U AIMer modification,” Paul Bolno, president and CEO of Wave Life Sciences, said in a statement.

Wave estimates there are about 200,000 people living with AATD in the U.S. and Europe who have limited treatment options including a weekly IV augmentation therapy for lung diseases. There are also no approved treatments for AATD liver diseases, prompting patients to undergo liver transplants.

Stocktwits users were optimistic about the drug’s prospects.

https://stocktwits.com/S2023/message/589126624

WVE stock is up 175% year-to-date.

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