Story perspectives

Parabilis IPO Raises $745 M, Launches on Nasdaq

6/10/2026

Summary

Parabilis IPO

Parabilis priced its IPO at $20 per share, selling 33.5 million shares for $670 million.
The company sold 4,166,666 shares to Regeneron at $18 each, raising $75 million.
With proceeds of $745 million, shares began trading on Nasdaq under PBLS on June 10, 2026.
Underwriters received a 30-day option to buy an additional 5,025,000 shares at $20 each.
Parabilis develops medicines for historically undruggable protein targets using its Helicons™ stabilized helical peptide platform.

Summary

Parabilis Funds Trials

Parabilis allocated $150 million for zolucatetide’s Phase 3 desmoid-tumor trial, $120 million for additional indications and $190 million to advance other pipeline candidates.
Phase 1/2 data showed tumor shrinkage in all desmoid patients with a 74 % RECIST 1.1 response rate and duodenal polyp reduction in a polyposis patient after 60 weeks of zolucatetide.
Founder Gregory Verdine appointed former Johnson & Johnson researcher Mathai Mammen as CEO, with the Helicon platform backing degrader programs targeting ERG, androgen receptors, and beta-catenin.

Summary

Parabilis Expands IPO

Parabilis Medicines publicly rebranded from FOG Pharmaceuticals to reflect a new strategic focus.
The company strategically maintains its headquarters in Cambridge, Massachusetts, a hub for biotech firms.
The IPO was initially planned as a 25-million-share offering before the company expanded the float to 33.5 million shares to attract broader investor interest.

History

Historical Context

Amgen’s ascent—from its 2012 $150 million criminal-penalty settlement and 2020 inclusion in the Dow Jones to a 2025 jury award of $406 million over anticompetitive practices—showed biotech’s financial clout and paved the way for later Nasdaq listings for biotech firms. This trajectory illustrates how early market breakthroughs enabled significant new capital-raising waves.

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Parabilis IPO

Parabilis priced its IPO at $20 per share, selling 33.5 million shares for $670 million.
The company sold 4,166,666 shares to Regeneron at $18 each, raising $75 million.
With proceeds of $745 million, shares began trading on Nasdaq under PBLS on June 10, 2026.
Underwriters received a 30-day option to buy an additional 5,025,000 shares at $20 each.
Parabilis develops medicines for historically undruggable protein targets using its Helicons™ stabilized helical peptide platform.

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