Monday morning was a dull one at Wave Life Sciences (NASDAQ:WVE). This was because the company’s shares declined by 50%.
About the flop
Analysts attribute this major drop to the recent discontinuation of the company’s suvodirsen. It was a product under development to help patients struggling with a condition known as Duchenne muscular dystrophy.
DMD happens to be a genetic condition whose severity is often determined by the absence or the defectiveness of the dystrophin protein. This protein type is essential for any given person to uphold optimal muscle conditions and state. Muscle maintenance and operation is a rigorous undertaking that consumes high energy levels, and proteins are thus necessary.
The turn of events
Wave has had many other drugs under testing, and others have received approval already. The manufacturer had been strategizing on ways to give the protein a boost.
Later on, the company gave an update about the results obtained. It revealed that the results did not indicate any change at all from the baseline in the dystrophin expression. The western blot helped make the measurements.
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CROs have always showcased consistency and dedication whenever it gets to the adoption of the latest technologies. It has always been in a bid to increase the efficiency of the clinical trials before them.
The company’s move to cut short the two suvodirsen trials has taken many by surprise, including analyst. This was unexpected. Most of the people following closely on its activities expected the Phase 2/3 DYSTANCE 51 trial and the OLE study to progress to the end.
The company’s Managing Director Paul Bolno pointed to the suvodirsen results as being rather disappointing. He outlines that they had expected better results and that even the patients were going to be upset as well.
He said that it was great upholding their position as part of the Duchenne community. He thanks the community for playing a huge role in helping them maintain their resilience all along the way.