UPDATE: Wave Life Sciences (WVE) - The Receipts Are In on WVE-007...

... And Retail May Have Just Misread Them

Wave just dropped their 6-month follow-up data for the 240 mg single-dose cohort of WVE-007, alongside the 3-month data for the 400 mg cohort. The broader market has severely punished the stock today, cutting it in half. This sell-off appears largely driven by traders hyper-fixating on the fact that total body weight only dropped by a placebo-adjusted 0.9% at six months.

If you only look at the absolute scale weight, you might assume this is a failed obesity asset. But if you strip away the noise and look at the raw body composition chemistry, this data may be acceptable.