Wave Life Sciences returns $7.2 loan following new guidance from U.S. Treasury Department

In a statement, Wave Life Sciences said, it will return a $7.2 million loan granted under the Payroll Protection Program (PPP), following new guidance from the U.S Treasury Department.

“We made this decision after the SBA (Small Business Administration) issued new guidance that states, in effect, that public companies are not appropriate recipients of these loans,” said a spokeswoman for the biotechnology company.

Wave Life Sciences made the disclosure in a regulatory filing on Thursday, saying it had initiated a repayment of the loan to JPMorgan.

Following an updated guidance from the Treasury Department, U.S. companies have begun returning / refusing government loans they had just been awarded.

Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Regulations & Legal, Strategy

Tags: , , , , , , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: