Offer completion and terms
Parabilis Medicines Inc. (PBLS) completed its initial public offering on June 11, 2026, selling a total of 38,525,000 shares at an offering price of $20.00 per share. The offering included the full exercise of the underwriters' overallotment option to purchase an additional 5,025,000 shares. On a gross basis, the IPO generated $770.5 million in proceeds before deducting underwriting discounts and offering expenses.
Trading and concurrent private placement
The company's common stock began trading on the Nasdaq Global Select Market on June 10, 2026. Alongside the public offering, Parabilis completed a concurrent private placement with Regeneron Pharmaceuticals Inc., selling 4,166,666 shares at $18.00 per share and producing approximately $75 million in proceeds. The private placement shares were priced at 90% of the IPO price and were not registered under the Securities Act of 1933.
Underwriting and book-running managers
The firms serving as active book-running managers for the offering were Leerink Partners, BofA Securities, Evercore ISI and Guggenheim Securities. LifeSci Capital served as a passive bookrunning manager.
Capital structure adjustments tied to the offering
In connection with the IPO, all of the company's preferred stock converted into common stock. In addition, a $50 million Simple Agreement for Future Equity held by Explore Investments LLC converted into common stock. These conversions occurred as part of the transactions associated with the public offering.
Aggregate funding announced for 2026
Parabilis stated that, across public and private financings and strategic collaborations, it has raised over $1.2 billion in funding in 2026 on a gross basis prior to fees and expenses.
Business focus
The company is a clinical-stage biopharmaceutical developer focused on medicines aimed at protein targets that have been difficult to modulate with conventional therapeutics. Parabilis uses its proprietary Helicons platform, which employs stabilized helical peptides, as the basis for its drug development efforts.
Note: The financial figures above reflect gross proceeds before underwriting discounts and offering expenses, and the private placement shares were not registered under the Securities Act of 1933.