Risk Factors Update Summary

• Net loss decreased significantly from $161.8 million in 2022 to $57.5 million in 2023.
• Added RNA interference to RNA modalities, enhancing disease biology addressing capabilities.
• Discussed increased state enforcement of privacy laws, expanding US privacy regulations.
• Accumulated deficit increased from $967.3 million to $1,024.9 million from 2022 to 2023.
• Expanded focus to include prevalent diseases, not just rare, like muscle diseases.
• Noted a vendor cybersecurity incident in April 2023, impacting data accessibility concerns.
• Received approximately $1.295 billion in net proceeds from transactions, with $170 million in additional net proceeds in January 2024.
• Transitioned from "cyber security" to "cybersecurity" for consistency and clarity.
• Highlighted potential financial impact and data security risks from cybersecurity incidents.
• Lead programs expanded to include ALS, FTD, and SCA3, with reliance on Takeda for commercialization.
• Shifted from "third-party" to "third-party" for grammatical correctness.
• Discontinued suvodirsen program due to lack of clinical benefit and discontinuation of the WVE-004 program.
• Challenges faced in retaining and recruiting personnel after discontinuing the suvodirsen program.
• Ongoing investigations into rebate practices and potential impacts on drug pricing and reimbursement.