Wave Life Sciences (WVE) said Thursday phase 1 data showed a 240-milligram dose of its WVE-007 improved body composition, with clinically meaningful reductions in visceral fat and waist circumference, at a six-month follow-up.

The company also reported data from participants in the 400 mg cohort, including visceral fat and total fat.

Shares sank 49%, with intraday trading volume of over 40 million shares, against a daily average of about 3.3 million.

Cibus (CBUS) said Thursday it has priced an underwritten public offering of almost 7 million class A shares at $2.15 apiece. The stock closed at $2.87 in the previous day.

Shares slid about 25% as intraday trading volume soared to over 1.66 million from a daily average of about 478,000.

Price: 6.43, Change: -5.87, Percent Change: -47.72