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Craig

Managing Director and Senior Equity Research Analyst at Wells Fargo

Craig Hettenbach is a Managing Director and Senior Equity Research Analyst at Wells Fargo Securities, specializing in internet and software sectors with a focus on e-commerce, cloud computing, and digital advertising. He covers key companies including Amazon, Meta Platforms, Salesforce, Shopify, and Snap, boasting a strong track record with a 62% success rate on TipRanks, an average return of 14.2% per rating, and top 10% ranking among Wall Street analysts over the past year. Hettenbach started his career as an equity research analyst at JPMorgan in 2003, advanced through roles at First Niagara Bank and Janney Montgomery Scott before joining Wells Fargo in 2015, bringing over 20 years of expertise in technology and consumer internet stocks. He holds FINRA Series 7, 63, and 86/87 licenses, underscoring his professional credentials in securities analysis.

Craig's questions to Wave Life Sciences (WVE) leadership

Question · Q4 2025

Craig asked about WVE-007's biodistribution to muscles, given it's a liver-directed agent, and how WVE-007's benefit on liver fat would coexist with WVE-008 for PNPLA3 I148M liver disease over longer periods.

Answer

Paul Bolno, President and CEO, clarified that WVE-007 is a GalNAc conjugated siRNA, designed for active receptor-mediated uptake in the liver, making it the target organ for delivery with no expected distribution to muscles. Regarding WVE-008, Erik Ingelsson, Chief Scientific Officer, explained that it directly addresses the PNPLA3 I148M genetic mutation, which drives a broad range of liver diseases beyond just MASH, by correcting the causal variant and restoring enzyme functionality to repair cells and prevent fibrosis. This mechanism is distinct from WVE-007's fat reduction pathway.

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