Parabilis Medicines, Inc. (NASDAQ: PBLS) priced its initial public offering of 33.5 million shares at $20.00 per share, generating gross proceeds of $670 million before underwriting discounts, commissions, and offering expenses.
The underwriters were granted a 30‑day option to purchase an additional 5,025,000 shares at the IPO price, subject to customary discounts and commissions.
A concurrent private placement of 4,166,666 shares at $18.00 per share was agreed with Regeneron Pharmaceuticals, Inc., expected to raise approximately $75 million. This private placement is priced at 90 % of the IPO price and is conditioned on the IPO’s closing.
The offering is expected to close on or about June 11, 2026, subject to customary closing conditions. The IPO closing is not conditioned on the private placement closing.
Parabilis’ common stock is slated to begin trading on the Nasdaq Global Select Market under the ticker symbol PBLS on the day of pricing.
Book‑running managers: Leerink Partners, BofA Securities, Evercore ISI, and Guggenheim Securities (active); LifeSci Capital LLC (passive).
Registration statements related to the offering were filed with the Securities and Exchange Commission and became effective on the Monday preceding the announcement.
Earlier marketing range was $17‑$19 per share; the final pricing at $20 represents the high end or above the range, reflecting strong investor demand.
The company expanded its offering size from the initially planned 25 million shares to 33.3 million shares, later pricing 33.5 million shares, indicating demand ten times the available shares prior to the upsize.
The IPO is expected to provide substantial capital to support Parabilis’ clinical‑stage biopharmaceutical development, focusing on medicines targeting previously “undruggable” proteins.
