Drug developer Parabilis Medicines surges in Nasdaq debut

Regeneron Pharmaceuticals

10/06/2026 18:19

** Shares of Parabilis Medicines PBLS.O jump 43% in Nasdaq debut
** The drug developer's stock opened at $33.35 apiece vs $20 IPO price
** The Cambridge, Massachusetts-based PBLS sold 33.5 million shares in an upsized offering above its marketed range of $17 and $19 apiece to raise $670 million
** Parabilis, whose ​pipeline is focused on various cancers and tumors, was co-founded in 2015 by longtime Harvard professor Greg Verdine
** Separately, PBLS agreed to sell $75 million worth of shares in a concurrent private placement to Regeneron Pharmaceuticals REGN.O 
** "The upsize (is) a strong signal that investors are increasingly willing to fund ambitious biotechs again, especially when those companies come with external validation and a path into late-stage development" - IPOX Research Associate Lukas Muehlbauer
** "Innovative biotech IPOs can also catch a premium with M&A remaining highly active as an important exit route for recent listings. News about the GSK/Nuvalent deal is a reminder that big pharma is still very willing to acquire innovation, especially in oncology"

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))