Wave Life Sciences reported data from ongoing phase Ib/IIa trials of its RNA editing oligonucleotide, WVE-006, for alpha-1 antitrypsin deficiency (AATD). The therapy demonstrated durable increases in functional protein levels and reduction of pathogenic variants. However, investor response was muted, with share prices declining amid expectations for stronger efficacy outcomes. This represents a critical step in RNA editing therapeutics, although competitive positioning and clinical proof remain areas for further validation.