Parabilis Medicines prices IPO at $20 per share, raises $670 million

Parabilis Medicines, Inc. (NASDAQ: PBLS) priced its initial public offering of 33.5 million shares at $20.00 per share, the company announced. The clinical-stage biopharmaceutical company increased the offering size and expects to raise gross proceeds of $670 million before underwriting fees and expenses.

The company granted underwriters a 30-day option to purchase an additional 5.025 million shares at the IPO price. Parabilis common stock is expected to begin trading on the Nasdaq Global Select Market on June 10, 2026 under the ticker symbol "PBLS."

In a concurrent private placement, Parabilis agreed to sell 4.166 million shares to Regeneron Pharmaceuticals, Inc. at $18.00 per share, representing 90% of the IPO price. This private placement is expected to generate approximately $75 million in additional proceeds for the company.

The IPO is expected to close on or around June 11, 2026, subject to customary closing conditions. The private placement closing is contingent upon the IPO closing, though the IPO is not dependent on the private placement.

Leerink Partners, BofA Securities, Evercore ISI and Guggenheim Securities serve as active book-running managers for the offering, with LifeSci Capital LLC acting as a passive bookrunning manager.

Parabilis develops medicines targeting protein targets using its proprietary Helicons platform, which creates stabilized helical peptides designed to modulate proteins that have been difficult to target with conventional drugs.

The information is based on a company press release statement.

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