Wave Life Is On The Wane - Abandons Two Huntington's Disease Drug Candidates

(RTTNews) - Barely a week after Ionis Pharmaceuticals Inc. (IONS) announced that its phase III trial of investigational Huntington's disease drug Tominersen has been halted, another company has shared disappointing news about its Huntington's disease drug program.

Wave Life Sciences Ltd. (WVE) has decided to stop clinical development of its Huntington's disease drug candidates - WVE-120101 and WVE-120102.

The decision to halt the development of the drug candidates was taken based on data from the company's Phase 1b/2a PRECISION-HD2 and PRECISION-HD1 trials evaluating WVE-120102 and WVE-120101, respectively, in Huntington's disease.

Huntington's disease, a neurodegenerative disorder that affects an estimated 30,000 people in the U.S., is caused by mutations in Huntingtin protein. Accumulation of mutant Huntingtin protein in the cerebrospinal fluid causes progressive loss of neurons in the brain and is a key factor in inducing neurodegeneration.

In both the trials, there was no statistically significant change in mutant huntingtin protein (mHTT) compared to placebo, as of result of which the company has decided to abandon WVE-120101 and WVE-120102.

There are no approved disease modifying therapies that delay disease onset or slow progression of the disease. However, there are treatment options like Xenazine, Austedo, neuroleptics, selective serotonin reuptake inhibitor (SSRI) antidepressant medications and mood stabilizers such as Depakote to treat some of the symptoms of Huntington's disease.

WVE has traded in the range of $6.76 to $19.98 in the last 1 year. The stock closed Monday's trading at $7.09, down 3.54%. In after-hours, WVE plunged over 15% and was at $5.99.