Shares of the biotechnology company surged 13% to $4.51 during Wednesday's trading session following the announcement. The ruling validates Prime's autonomy in developing the therapy for the genetic disorder, which causes severe liver and lung complications, and confirms that no monetary damages are owed to Beam Therapeutics.

With the legal dispute resolved, the company is accelerating its development timeline. Management plans to file an investigational new drug application during the third quarter of this year, aiming to produce initial clinical data by 2027.