Wave Life (WVE) Shares Nearly Triple on Encouraging Obesity Drug Trial

We recently published 10 Stocks Delivering Explosive 18-190% Gains. Wave Life Sciences Ltd. (NASDAQ:WVE) is one of the last week’s heavy gainers.

Wave Life Sciences nearly tripled its share price on a week-on-week basis, as investors positioned their portfolios after the encouraging results of its obesity drug clinical trial, sparking rosy prospects for the company in a highly coveted industry.

At intra-week trading, Wave Life Sciences Ltd. (NASDAQ:WVE) soared by as much as 190 percent to touch a new six-year high of $21.73 before trimming gains to finish the week just up by 121 percent.

This followed stellar results from the first phase of its clinical trial to test the efficacy of WVE-007 on obese patients, where enrollees’ body composition significantly improved.

According to Wave Life Sciences Ltd. (NASDAQ:WVE), WVE-007, taken in just three months, resulted in a 4.5 percent total fat loss, 9.4 percent visceral fat reduction, and a 3.2 percent increase in lean mass.

Notably, investors cheered the drug candidate’s safety and tolerability results, having no recorded serious adverse reactions during the course of the trial.

Wave Life Sciences Ltd (NASDAQ:WVE) said it expects to deliver the results of the second round of the clinical trial, covering six months for the 240 mg single-dose cohort, as well as three-month follow-up data for the 400mg single-dose cohort.

It also targets to deliver the six-month data for the 400mg single-dose cohort and the three-month follow-up data from the 600mg single-dose cohort in the second quarter of 2026.

For phase 2, Wave Life Sciences Ltd (NASDAQ:WVE) would target to evaluate WVE-007 as both a monotherapy and an add-on therapy to incretins in populations with higher BMI and related co-morbidities, and as a maintenance therapy post-incretin treatment.

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Disclosure: None. This article is originally published at Insider Monkey.