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Parabilis Medicines Inc. shares jumped as much as 67% in its trading debut, after the company raised nearly $745 million in an upsized US initial public offering that priced above its marketed range and a private placement.
Parabilis Medicines Inc. , a clinical-stage cancer drug developer, raised nearly $745 million in an upsized US initial public offering that priced above its marketed range, and a private placement.
The deal comes at a time of biotech dealmaking frenzy, driven by looming patent cliffs, newly buoyant public markets and drugmakers' race to bolster pipelines.