Parabilis Medicines raises $670 million in biotech IPO
Parabilis Medicines priced its initial public offering at $20 per share, raising $670 million.
The offering priced above the $17-to-$19 range Parabilis had marketed earlier.
Underwriters also hold a 30-day option to purchase an additional 5,025,000 shares at the IPO price, which could add roughly $100 million to the total raised.
A concurrent private placement tied to the offering raised roughly $75 million, bringing the total to nearly $745 million.