Parabilis Medicines priced a record-setting $670 million biotech IPO on Nasdaq, surpassing prior large listings this year. The cancer-focused company priced 3.5 million shares at $20 per share and also disclosed an additional $75 million raised via a concurrent private placement with Regeneron. The IPO provides capital for clinical development across zolucatetide (FOG-001) and earlier programs tied to Wnt pathway modulation and other degraders. Parabilis’ scale also reinforces how investor attention remains concentrated on well-funded oncology developers with clear clinical roadmaps. Separately, Kardigan filed for a $320 million IPO focused on cardiovascular medicines, describing plans to fund late-stage cardiomyopathy and valve disease programs. Together, the IPO activity underscores continued access to public markets for companies with multiple catalysts and credible clinical differentiation.