The company set a price range between $17 and $19 per share, a significant increase from its original target of 25 million shares. At the $18 midpoint, Parabilis expects to net roughly $553.1 million. That figure could climb to $636.8 million if underwriters fully exercise their option to purchase an additional 5 million shares.

Following the offering and a $75 million private placement with Regeneron Pharmaceuticals, Parabilis will have approximately 123.8 million shares outstanding. Should the overallotment options be triggered, the company’s total market value will reach nearly $2.23 billion. This capital injection provides the firm with substantial runway to advance its clinical-stage pipeline.