Wave Life Sciences’ Stumble in Duchenne Leads to 22% Staff Layoff
Summary
Wave Life Sciences is cutting about 22 percent of its staff as part of a corporate shakeup that follows the company’s decision to stop work on its Duchenne muscular dystrophy programs. Singapore-based Wave (NASDAQ: WVE), which has its US operations in Cambridge, MA, said in a Feb. 6 regulatory filing it expects to have notified the affected employees by Feb. 10. Two months ago, Wave announced interim data from an early-stage study testing suvodirsen, an experimental treatment for Duchenne and the company’s lead therapeutic candidate. The corporate shakeup leaves Wave to focus on its experimental treatments for amyotrophic lateral sclerosis; frontotemporal dementia; spinocerebellar ataxia-3, and central nervous system disorders (CNS), including Huntington’s disease. The company said in the filing that the cost reductions will not affect work on its drug discovery and development platform, called PRISM.
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