Wave Life Sciences WVE Shares Plummet 49.6% After Announcing Phase I Data for WVE-007

Wave Life Sciences WVE shares plunged 49.6% after interim data from the phase I INLIGHT study showed a single dose of WVE-007 reduced visceral fat by 14% and total body fat by 5% compared to placebo. Lean mass remained stable, but overall body weight declined by 1%. The company plans to initiate phase IIa studies in Q2 2026 and expects additional data from the INLIGHT study later this year. The obesity market is highly competitive, with Eli Lilly LLY and Novo Nordisk NVO dominating the space with their injectable therapies.