Legal Proceedings
−Removed: We are currently engaged in arbitration proceedings with Beam regarding the parties’ Agreement.
+Added: We were engaged in binding arbitration proceedings with Beam regarding the Beam Collaboration Agreement.
A dispute arose between the parties following our March 18, 2025 announcement that we are developing a Prime Editing-based treatment for AATD.
−Removed: 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.
+Added: On April 16, 2025, Beam filed an arbitration demand with the AAA, alleging that we breached the Beam Collaboration 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 Beam Collaboration Agreement.
Beam also made related claims for trade secret misappropriation and various business torts based on similar allegations.
−Removed: Beam seeks both declaratory, injunctive, and monetary relief.
−Removed: 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.
+Added: Beam sought both declaratory, injunctive, and monetary relief.
+Added: 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 Beam Collaboration Agreement.
The arbitrations were consolidated and a hearing was conducted earlier this year.
−Removed: We are currently waiting for the arbitrators’ decision and final resolution.
−Removed: 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.
+Added: On July 6, 2026, we received a final award, or the Final Award, from the arbitration tribunal, or the Tribunal.
+Added: In the Final Award, the Tribunal declared that PM647, our development candidate for the treatment of AATD, is within our "Field," and that we therefore did not breach the Beam Collaboration Agreement.
+Added: Consequently, the Tribunal denied Beam's requests for damages and injunctive relief based on Beam's assertion that we breached the Beam Collaboration Agreement.
+Added: The Tribunal denied the remaining claims brought by Beam and us.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.