Parabilis Medicines filed IPO plans shortly after a Regeneron equity-and-upfront deal, signaling a funding push to advance its pipeline. In its SEC filing dated May 19, the company said IPO proceeds would prioritize funding a Phase 3 study of its Wnt/β-catenin pathway inhibitor zolucatetide for desmoid tumors, alongside continued Phase 1 work across multiple solid tumors and a rare genetic condition. Zolucatetide received an FDA fast-track designation in November 2025 for the desmoid indication, and the company described zolucatetide as targeting beta-catenin using its helicon peptides designed to engage flat intracellular surfaces. Parabilis also flagged additional degraders in its portfolio to be advanced using IPO cash. With cash and equivalents reported at about $329 million even before the Regeneron payments, the IPO appears positioned as capital for late-stage execution rather than immediate runway extension.