Wave Life Sciences IPO: Hold Off

WAVE Life Sciences Pte Ltd. (NASDAQ: WVE) expects to raise $80 million in its upcoming IPO. Based in Singapore, WAVE Life Sciences is a preclinical biopharmaceutical company that designs, develops and markets nucleic acid therapeutic candidates.

WVE will offer 5 million shares at an expected price range of $15 to $17. If the underwriters price the IPO at the midpoint of that range, WVE will have a market capitalization of $319 million.

WAVE Life Sciences filed for the IPO on October 9, 2015.

Lead Underwriters: Jeffries LLC and Leerink Partners LLC

Underwriters: JMP Securities and SunTrust Robinson Humphrey

Business Summary: Preclinical Biopharmaceutical Developing Nucleic Acid Therapeutic Candidates

WAVE Life Sciences is a preclinical biopharmaceutical company that identifies, designs, develops and markets nucleic acid therapeutic candidates. The company is developing nucleic acid therapies to address certain genetic defects by reducing the expression of disease promoting proteins or transforming proteins from dysfunctional to functional.

WAVE Life Sciences utilizes a proprietary synthetic chemistry drug development platform to develop its therapeutics, giving them the capacity to target the underlying causative factors in rare genetic diseases. The company’s pipeline is expected to cover multiple oligonucleotide modalities including antisense, exon-skipping and single-stranded RNAi.

Its advanced programs are being studied to address Duchenne muscular dystrophy, Huntington’s disease, and inflammatory bowel disease (IBD).

WAVE Life Sciences expects to use the proceeds of the IPO for preclinical and Phase 1 studies, the advancement of its discovery programs, the expansion of its pipeline, and for general working capital and corporate purposes.

The company has 28 employees and is located in Singapore.

Executive Management Overview

CEO, President and Director Paul Bolno M.D. has served in his position since December 2013. Previously, Dr. Bolno served as Head of Asia BD & Investments, Head of Global Neuroscience BD and Vice President of Worldwide Business Development at Glaxo Welcome Manufacturing, Pte. Ltd. Dr. Bolno earned a medical degree from MCP-Hahnemann School of Medicine and an M.B.A. from Drexel University.