Parabilis Medicines Prices IPO at $20, Raising $670 Million

Investors pushed Parabilis Medicines beyond initial targets, driving the Cambridge-based firm to price its upsized offering at $20 a share. The clinical-stage biopharmaceutical developer bypassed its projected range of $17 to $19, securing a total of $670 million as it prepares to debut on the Nasdaq exchange.

Jun 10, 13:21· Money Talk

Parabilis Medicines Prices IPO at $20, Raising $670 Million

The company finalized the sale of 33.5 million shares late Tuesday, marking a significant expansion from the original plan to offer 25 million shares. This surge in volume reflects strong market appetite for the firm’s pipeline, which now hits the public market under the ticker PBLS.

Beyond the primary offering, Parabilis secured an additional $75 million through a concurrent private placement. Long-term collaboration partner Regeneron Pharmaceuticals purchased approximately 4.2 million of those shares at $18 apiece. With the capital influx complete, trading is scheduled to commence Wednesday on the Nasdaq Global Select Market.

Parabilis Medicines Prices IPO at $20, Raising $670 Million

Comments (0)