Parabilis completed a $770.5 million IPO after underwriters exercised their full overallotment option, according to the company’s public-equity reporting. The conformationally stabilized peptide developer said it closed at the top end of the deal range and has now raised more than $1 billion across recent offerings when including earlier capital. The listing continues a run of unusually large biopharma IPOs in 2026, reinforcing investor appetite for late-stage-ready platforms and modality diversification, particularly in areas like hard-to-modulate targets.