5 Key Takeaways
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1
Parabilis Medicines raised $670 million in an IPO, setting a new record for biotech listings on Nasdaq.
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2
The company sold 33.5 million shares at $20 each and began trading under the ticker PBLS on June 10.
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3
Parabilis plans to use IPO proceeds to advance its stabilized helical peptide platform and cancer pipeline.
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4
The company is developing zolucatetide, targeting various solid tumors with Wnt pathway-activating mutations.
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5
Parabilis also secured a $75 million private placement with Regeneron Pharmaceuticals, enhancing its financial backing.
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