Parabilis Medicines, Inc. (PBLS), a clinical-stage biopharmaceutical company, announced the pricing of its upsized initial public offering of 33.50 million shares at a price of $20 per share and in addition, Parabilis has agreed to sell 4.167 million shares of its common stock at $18.00 per share, in a concurrent private placement to Regeneron Pharmaceuticals, Inc.
The gross proceeds to Parabilis from the initial public offering are expected to be $670 million, and approximately $75 million in concurrent private placement proceeds. Parabilis shares are expected to begin trading on the Nasdaq on June 10, 2026, under the ticker symbol "PBLS".
In addition, Parabilis has granted the underwriters a 30-day option to buy an additional 5.025 million shares at the initial public offering price. The offering is expected to close on or about June 11, 2026.
The concurrent private placement is also expected to close on or about June 11, 2026 conditioned upon the closing of the initial public offering.
Parabilis leverages its proprietary platform for a novel therapeutic modality called Helicons, a class of stabilised helical peptides engineered to bind and modulate previously undruggable protein targets.
Leerink Partners, BofA Securities, Evercore ISI and Guggenheim Securities are acting as active book-running managers for the offering.
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