Shares of Wave Life Sciences (NASDAQ:WVE) surged more than 126% on Monday after the biotech company reported early clinical data showing its experimental obesity treatment led to significant reductions in body fat and gains in lean mass.
The Phase 1 study gave participants a single 240 mg injection of WVE-007, an experimental therapy. Three months later, those who received the drug had nearly 10% less belly fat, lost about 4.5% of their total body fat, and gained roughly 4 pounds of muscle.
Wave Life said the therapy produced sustained suppression of serum Activin E, supporting expectations for further fat loss and preserved muscle mass with infrequent dosing—potentially once or twice yearly.
The treatment was generally safe and well tolerated, with only mild adverse events and no clinically meaningful changes in laboratory measurements, including lipid profiles or liver function tests.
The company is planning Phase 2 trials to evaluate WVE-007 both as a standalone therapy and in combination with incretins in people with higher body mass index and related co-morbidities. It also aims to explore the therapy as maintenance treatment following incretin therapy.
Further clinical updates are expected in the first quarter of 2026, including six-month follow-up data from the 240 mg cohort and three-month follow-up data from a 400 mg cohort.
Wave shares reached around $16.65 on Monday morning.