The biotech firm priced 33.3M shares at the top of its range, securing gross proceeds of $633.3M in its public debut.
Parabilis Medicines priced its initial public offering of 33.3M shares at $19 per share, the upper end of its marketed range, raising $633.3M in gross proceeds. The move reflects strong investor demand for the biotech firm’s debut.
The IPO was upsized from earlier expectations, with underwriters granted a 30-day option to purchase an additional 5M shares. The $19 price point aligns with the company’s targeted valuation, signaling confidence in its growth prospects.
Details on market reaction or trading performance were not immediately disclosed.