Parabilis Medicines, Inc. has priced its initial public offering at $20.00 per share for 33.5 million shares, the company announced. With the increased offering size, Parabilis expects to generate roughly $670 million in gross proceeds prior to underwriting fees and expenses.
The company has granted the underwriters a 30-day option to purchase an additional 5.025 million shares at the IPO price. Parabilis common stock is expected to commence trading on the Nasdaq Global Select Market on June 10, 2026, under the ticker symbol "PBLS."
Alongside the public offering, Parabilis agreed to sell 4.166 million shares to Regeneron Pharmaceuticals, Inc. at $18.00 per share, which represents 90% of the IPO price. That concurrent private placement is expected to provide approximately $75 million in additional proceeds to Parabilis.
The company indicated the IPO is expected to close on or about June 11, 2026, subject to customary closing conditions. The closing of the private placement is contingent on the IPO closing, while the public offering itself does not depend on the private placement.
Investment banks serving as active book-running managers for the offering include Leerink Partners, BofA Securities, Evercore ISI and Guggenheim Securities, with LifeSci Capital LLC named as a passive bookrunning manager.
Parabilis is a clinical-stage biopharmaceutical company that develops medicines aimed at protein targets using its proprietary Helicons platform. The platform is described as generating stabilized helical peptides that are designed to modulate proteins that have been difficult to address using conventional drugs.
Detailed offering mechanics
- Primary IPO: 33.5 million shares priced at $20.00 each.
- Overallotment: Underwriters have a 30-day option for up to 5.025 million additional shares at the IPO price.
- Concurrent private placement: 4.166 million shares to Regeneron at $18.00 per share, expected to yield about $75 million.
- Expected Nasdaq listing: June 10, 2026, under the symbol PBLS; expected IPO close on or about June 11, 2026, subject to standard closing conditions.
The foregoing is based on a company press release statement.