Wave Life Sciences (NASDAQ:WVE) reported disappointing Q2 2025 earnings, with revenue of $8.7 million falling short of the $13.2 million forecast and a loss per share of $0.31 versus the anticipated $0.28. Despite a 55.8% year-over-year revenue decline and increased operating expenses, the company made progress in its RNA-based medicine pipeline using its proprietary PRISM platform.