Parabilis Medicines Raises $745 Million in Upsized US IPO and Placement
Updated
Updated · Bloomberg · Jun 10
Parabilis Medicines Raises $745 Million in Upsized US IPO and Placement
1 articles · Updated · Bloomberg · Jun 10
Summary
$745 million was raised by Parabilis Medicines through an upsized US IPO and private placement, marking a strong debut for the clinical-stage cancer drug developer.
33.5 million shares were sold at $20 each in the IPO, generating $670 million after the deal priced above its marketed $17-to-$19 range.
The Cambridge, Massachusetts-based company had already increased the size of the offering earlier Tuesday, signaling stronger-than-expected investor demand.
The fundraising gives Parabilis a sizable capital base as it advances its cancer drug pipeline from the clinical stage.