02:14 PM EDT, 03/26/2026 (MT Newswires) -- (Updates with the company's latest stock move in the headline and the first paragraph.)

Wave Life Sciences ( WVE ) shares were down more than 48% in Thursday trading after the biotechnology company reported phase 1 data for its investigational obesity therapy WVE-007.

The company said that the new data from its Inlight trial showed a single dose of WVE-007 reduced visceral fat while preserving muscle mass in overweight and obese participants after six months.

In the 240 mg cohort, patients receiving WVE-007 showed a 14.3% placebo-adjusted reduction in visceral fat mass at six months, along with reductions in waist circumference and total fat mass and increases in lean mass, the company said.

The company added that the therapy also produced up to an 88% reduction in Activin E levels, supporting the potential for once- or twice-yearly dosing.

Wave said it plans to begin the Phase 2a multidose portion of the Inlight trial in higher-BMI patients in Q2 of 2026.

Price: 6.37, Change: -5.94, Percent Change: -48.25