Beam Therapeutics launched BEAM‑304, a liver‑targeted base‑editing program aimed at correcting common PAH mutations that cause phenylketonuria (PKU), and expects an IND filing in 2026. The company plans multi‑editor, mutation‑specific editors to cover prevalent patient variants and reported preclinical normalization of phenylalanine in mice. Separately, Pfizer exercised an option to obtain global rights to a Beam liver‑targeted gene editing candidate after Pfizer exited an earlier gene‑therapy effort. The license reflects industry interest in liver‑focused base editing and provides Beam with commercialization pathways and potential de‑risking capital. Beam’s dual moves—progressing a one‑time PKU editing program while crystallizing commercial deals—highlight the increasing commercialisation strategy for in‑vivo base editing and the need to pair platform innovation with partner scale.