Wave Life crashes as it pulls the plug on Duchenne drug

USA-based genetics medicines developer Wave Life Sciences (Nasdaq: WVE) saw its shares crash more than 55% to $26.79 by close of trading Monday, after announcing the discontinuation of two trials in Duchenne muscular dystrophy (DMD).

Wave Life said it will discontinue development of suvodirsen for patients with Duchenne muscular dystrophy (DMD) who have mutations amenable to exon 51 skipping, based on its interim analysis of the Phase I open-label extension (OLE) study. The results showed no change from baseline in dystrophin expression, as measured by western blot, with either the 3.5mg/kg or 5mg/kg doses of suvodirsen. No safety concerns or emerging safety signals were observed.

As a result of this decision, the company is immediately discontinuing the two suvodirsen trials, the OLE study and the Phase II/III DYSTANCE 51 trial. Patients will have a final follow-up visit, but no further doses will be administered, and patients will no longer undergo muscle biopsies. In addition, Wave Life is suspending further development of WVE-N531 for patients with mutations amenable to exon 53 skipping.