Wave Life Sciences released additional data from a phase Ib/IIa trial of its RNA-editing oligonucleotide WVE-006 for alpha-1 antitrypsin deficiency. Despite demonstrating target engagement and durability, the new results were somewhat underwhelming compared to initial expectations, leading to a decline in Wave’s stock price. Observers note the therapy met efficacy thresholds, but not strongly enough to support top market positioning amid competitive landscape. Ongoing data readouts will be crucial for future development plans.