Wave Life Sciences’ obesity program hit investor disappointment after the company reported a roughly 1% body-weight reduction over six months in its Inlight phase I follow-up. Shares fell sharply as investors recalibrated expectations for the INHBE-targeting GalNAc-siRNA candidate WVE-007. While Wave described the data as positive, the report adds to investor scrutiny of early efficacy signals for obesity drugs outside the GLP-1 class. The results also increase pressure on the company to demonstrate clinically meaningful effects and durable metabolic benefits in later cohorts.