Prime Medicine, Inc. 10-Q

Item 1. Legal Proceedings We are currently engaged in arbitration proceedings with Beam regarding the parties’ Agreement. A dispute arose between the parties following our March 18, 2025 announcement that we are developing a Prime Editing-based treatment for AATD. On April 16, 2025, Beam filed an arbitration demand with the AAA, alleging that we have breached the Agreement by developing a product for the treatment of AATD and by allegedly not complying with certain obligations to transfer technical information to Beam pursuant to the Agreement. Beam also made related claims for trade secret misappropriation and various business torts based on similar allegations. Beam seeks both declaratory, injunctive, and monetary relief. On April 18, 2025, we filed an arbitration demand with the AAA seeking a declaration that our AATD program is within our “Field” as defined by the Agreement. The arbitrations were consolidated and a hearing was conducted earlier this year. We are currently waiting for the arbitrators’ decision and final resolution. If the final resolution of the matter is adverse to us, the arbitration panel may provide Beam with relief including, among other things, monetary damages and/or an order that we cease work on our AATD program and transfer such program to Beam.