By Colin Kellaher

Parabilis Medicines has increased the size of a planned initial public offering that could give the clinical-stage biopharmaceutical company an initial market capitalization topping $2 billion.

Parabilis on Tuesday said it now plans to sell more than 33.3 million shares at between $17 and $19 each in the IPO, up from prior plans to offer 25 million shares.

At the $18 midpoint of that price range, the Cambridge, Mass., company said it expects net proceeds of about $553.1 million, or around $636.8 million if the underwriters exercise an option to buy an additional 5 million shares.

Parabilis said it would have about 123.8 million shares outstanding after the IPO and a $75 million private placement with collaboration partner Regeneron Pharmaceuticals, assuming an exercise of the overallotment option, for a market capitalization of nearly $2.23 billion at the $18-a-share pricing midpoint.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

June 09, 2026 06:32 ET (10:32 GMT)

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