Wave Life Sciences released updated Phase Ib/IIa clinical data for its RNA editing oligonucleotide WVE-006 targeting alpha-1 antitrypsin deficiency (AATD). The results confirmed sustained production of functional protein levels linked to reduced disease risk, demonstrating proof of concept for the RNA editing platform. Despite these positive clinical findings, the company’s shares declined, reflecting cautious investor sentiment over efficacy magnitude relative to expectations and competitive positioning within the rare genetic disease space.