Wave's stock wavers on obesity drug data
Wave Life Sciences has said new clinical trial results with its non-incretin therapy for weight loss are positive – but investors don't seem to agree.
The data reveal from the phase 1 INLIGHT study of WVE-007 – an oligonucleotide-based gene-silencing drug designed to switch off the activity of the inhibin beta E (INHBE) gene – show "clinically meaningful" reductions in visceral fat and waist circumference six months after a single 240 mg dose, according to a company statement.
The numbers show a 14% placebo-adjusted reduction in visceral fat and a 5% fall in total fat, with a stabilisation in lean mass (up 2%), a 3% reduction in waist circumference, and a 1% fall in overall body weight in people with overweight and obesity.
The body weight readout may have been what spooked investors, given it is so much lower than has been seen with incretin-based weight loss drugs like GLP-1 agonists, along with results showing a 400 mg dose of the drug did not perform quite as well.
Wave – and some analysts – have pointed out that comparison based on body weight alone would be missing the point of WVE-007, which is designed to improve body composition. Meanwhile, the company also said that the 400 mg dose group had a leaner baseline body composition at baseline, with around a third less visceral fat.
That hasn't stopped a sell-off in its shares, however, which were down more than 53% at the time of writing.
"Even in this early phase 1 trial, we are seeing our differentiated chemistry translate into clinically meaningful levels of fat loss, particularly harmful visceral fat, with muscle preservation," said Christopher Wright, Wave's chief medical officer.
"Our analysis suggests there will be even greater improvement in individuals with higher BMI in the phase 2a portion of INLIGHT, including more pronounced visceral and total fat loss with similar lean mass preservation, thus inducing greater weight loss," he added. The phase 2a stage is due to start in the second quarter of this year.
Wright also said the results support a role for WVE-007 for patients who are susceptible to muscle loss with incretin therapy, which can account for between 15% and 40% of total weight loss according to some estimates, as well as part of combination therapies for obesity.
"Beyond obesity, by significantly lowering visceral fat and retaining skeletal muscle, today's data also suggest WVE-007's powerful, differentiated cardiometabolic profile could address additional indications such as MASH, type 2 diabetes, and cardiovascular disease, continued Wright.
"The phase 2a portion of INLIGHT is designed to inform these additional opportunities."
Wave is also planning new clinical trials evaluating WVE-007 as an incretin add-on and as post-incretin maintenance before the end of this year.
Photo by Mourad Saadi on Unsplash
