Wave Life Sciences Ltd. (WVE) shares are currently observing a significant gain of more than 34 percent. This surge followed the company's announcement about the lessening of its net loss in the fourth quarter.
The company reported a loss of $16.25 million, equivalent to $0.15 per share. This marked a crucial decrease from the previous year's fourth-quarter loss of $43.70 million, or $0.47 per share.
Analysts, on average, had predicted a slightly higher loss of $0.23 per share for this quarter.
At present, the boost in Wave's stock is recorded at 34.66 percent, taking the stock's worth to $6.45. The prior close stood at $4.79 with a trading volume of approximately 3.1 million.
Wave Life Sciences witnessed a surge in its revenue to $29.05 million. This substantial hike is credited to collaborations with pharmaceutical giants GSK and Takeda, which allowed the revenue to escalate from the previous year's meager $1.2 million.
