Parabilis Medicines targets up to $633.3M raise in upsized US IPO

Investing.com -- Parabilis Medicines announced Tuesday that it plans to raise up to $633.3 million through an expanded initial public offering in the United States.

The Cambridge, Massachusetts-based biopharmaceutical company is now offering 33.3 million shares with a price range of $17 to $19 per share. The company previously planned to sell 25 million shares in the offering.

Leerink Partners, BofA Securities, Evercore ISI, Guggenheim Securities and LifeSci Capital serve as underwriters for the offering.

The company's shares are scheduled to begin trading on the Nasdaq on Wednesday under the ticker symbol "PBLS."

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