Parabilis Medicines just pulled off one of the larger biotech IPOs of 2026, pricing 33.5 million shares at $20 each to raise $670 million in gross proceeds. That price landed above the company’s initial range of $17 to $19 per share, and the share count itself was upsized from a planned 25 million.
Shares are set to begin trading on Nasdaq under the ticker PBLS starting June 10, 2026.
The numbers behind the upsizing
Parabilis originally expected to sell 25 million shares in a range of $17 to $19. At the midpoint of that range, the company would have raised roughly $450 million. Instead, it raised $670 million, nearly 50% more than the midpoint scenario would have delivered.
The $670 million figure sets a new record for the largest biotech IPO by proceeds, surpassing the previous record held by Kailera Therapeutics at $625 million.
