Wave Life Sciences Secures $200 Million in Upsized Public Offering

Wave Life Sciences Ltd. (Nasdaq: WVE), a clinical-stage biotechnology company focused on unlocking the broad potential of RNA medicines, has successfully priced an upsized public offering of ordinary shares and pre-funded warrants, raising approximately $200 million in gross proceeds. The offering, which was initially announced on September 25, 2024, consists of 23,125,001 ordinary shares at a price of $8.00 per share and pre-funded warrants to purchase up to 1,875,023 ordinary shares at an offering price of $7.9999 per pre-funded warrant.

The offering is expected to close on or about September 27, 2024, subject to customary closing conditions. J.P. Morgan and Leerink Partners are acting as joint book-running managers for the offering, while Truist Securities and Mizuho are acting as book-runners. The offering is being made only by means of a prospectus and related prospectus supplement, which were filed with the Securities and Exchange Commission (SEC) on September 24, 2024.

This upsized offering comes at a critical juncture for Wave Life Sciences, as the company continues to advance its pipeline of RNA medicines across various therapeutic areas. The proceeds from the offering will be used to fund clinical trials, research and development, and general corporate purposes, further strengthening the company's financial position and cash runway.

The pricing of the offering reflects the strong investor interest in Wave Life Sciences' innovative approach to RNA medicines and its potential to transform human health. The company's pipeline includes clinical programs in Duchenne muscular dystrophy, Alpha-1 antitrypsin deficiency, and Huntington's disease, as well as a preclinical program in obesity.

The successful completion of this offering will provide Wave Life Sciences with the financial resources necessary to continue its mission of reimagining possible and unlocking the broad potential of RNA medicines. With a strong pipeline and a well-capitalized balance sheet, the company is poised to deliver on its promise to transform human health through the power of RNA medicines.