{"success":true,"data":{"pressRelease":{"id":"117831","rtpr_id":"nGNX7n33","ticker":"PBLS","exchange":"NASDAQ","all_tickers":["PBLS"],"title":"Parabilis Medicines Reports Second Quarter 2026 Financial Results and Provides Business Updates","author":"Globe Newswire","published_at":"2026-08-13T11:00:00.524Z","article_body":"Advanced zolucatetide across multiple Wnt/β-catenin-driven diseases,\nincluding progress toward planned Phase 3 registrational trial in desmoid\ntumors \n\nAnnounced strategic research collaboration with Regeneron to develop\nAntibody-Helicon Conjugates, expanding application of company's proprietary\nHelicon(TM) platform; received $125M in upfront consideration and equity\ninvestment, with the potential for up to $2.2B in milestone payments plus\ntiered royalties\n\nEnded the second quarter with a strong financial position with $1.1B in cash,\ncash equivalents and marketable securities, following completion of $770.5M\ninitial public offering and other transactions, expected to fund operations\ninto 2030\n\nCAMBRIDGE, Mass., Aug. 13, 2026 (GLOBE NEWSWIRE) -- Parabilis Medicines\n(Nasdaq: PBLS), a clinical-stage biopharmaceutical company dedicated to\ncreating extraordinary medicines for patients with serious diseases by\nunlocking historically undruggable targets, today reported financial results\nand business updates for the second quarter ended June 30, 2026.\n\n“This quarter marked meaningful progress toward our long-term vision as we\ncontinued advancing zolucatetide across multiple Wnt/β-catenin-driven\ndiseases, including toward planned registrational development in desmoid\ntumors, while also extending the reach of our Helicon™ platform through our\nstrategic research collaboration with Regeneron focused on developing\nAntibody-Helicon Conjugates,\" said Mathai Mammen, M.D., Ph.D., Chairman,\nPresident and Chief Executive Officer of Parabilis Medicines. \n\nDr. Mammen continued, \"The body of encouraging clinical evidence for\nzolucatetide has strengthened our conviction both in its potential to\ntransform the treatment of patients with Wnt/β-catenin-driven diseases and in\nthe broader ability of Helicons to unlock biologically important intracellular\ntargets that have historically been beyond the reach of conventional\ntherapeutic approaches. With a strong balance sheet following our successful\ninitial public offering, we believe we are well positioned to deliver\nimportant clinical and regulatory milestones over the coming quarters as we\ncontinue advancing medicines designed to target the causal biology and deliver\nmeaningful impact for patients with serious diseases.\"\n\nRecent Business Highlights & Anticipated Milestones \n\nContinued Advancement of Zolucatetide\nZolucatetide is Parabilis' lead investigational Helicon and the first and only\ndirect inhibitor of the β-catenin:TCF interaction in clinical development.\nThe investigational therapy is being evaluated as a “pipeline in a\nproduct” across multiple Wnt/β-catenin-driven diseases, with promising\nearly clinical data demonstrating its potential in desmoid tumors, with\nfamilial adenomatous polyposis (FAP) and adamantinomatous craniopharyngioma\n(ACP) as potential genetically anchored expansion opportunities.\n\nDesmoid tumors\n* Abstract accepted for oral presentation at the European Society for Medical\nOncology (ESMO) Congress 2026 (Oct. 23-27, Madrid), with a plan to share\nclinical data from the February data cut from the ongoing Phase 1/2 study of\nzolucatetide in desmoid tumor patients\n* Expect to present more mature clinical data from the ongoing Phase 1/2 study\nin desmoid tumors during the fourth quarter of 2026\n* Expect to engage with the U.S. Food and Drug Administration (FDA) during the\nfourth quarter of 2026 to discuss and align on the planned registrational\nPhase 3 trial\n* On track to initiate Phase 3 registrational trial in the first half of 2027\nFamilial adenomatous polyposis (FAP)\n* Expect to initiate enrollment in a dedicated clinical cohort evaluating\nzolucatetide in patients with FAP during the second half of 2026\n* Anticipate disclosing additional FAP data in the first quarter of 2027\nAdamantinomatous craniopharyngioma (ACP)\n* Expect to share clinical data from additional patients in the first half of\n2027 for ACP, a locally aggressive tumor arising near the pituitary gland\nassociated with significant lifelong morbidity and no approved drug therapies,\nwith a conservatively estimated 15-year prevalence of approximately 5,000 to\n9,000 patients in the U.S.\nAdditional Wnt-driven tumors\n* Continue to enroll patients across additional cohorts evaluating\nzolucatetide across additional indications with high unmet medical need,\nincluding hepatocellular carcinoma (HCC), colorectal cancer (CRC) in rational\ncombinations, and other Wnt-driven solid tumors\n* Correspondence published\n(https://www.nejm.org/doi/full/10.1056/NEJMc2517783) in the New England\nJournal of Medicine (NEJM) demonstrates durable clinical and radiologic\nresponse to zolucatetide in a patient with recurrent ameloblastoma – a\nlocally aggressive tumor of the jaw – driven by Wnt/β-catenin pathway\nalterations, providing further clinical validation of zolucatetide's mechanism\nof action\nExpanded the Application of the Helicon Platform\nDuring the second quarter of 2026, Parabilis continued to expand the reach of\nits proprietary Helicon platform through strategic partnerships and\nadvancement of its wholly-owned discovery pipeline.\n* Announced\n(https://investors.parabilismed.com/news-releases/news-release-details/parabilis-medicines-announces-strategic-collaboration-regeneron)\na strategic collaboration with Regeneron Pharmaceuticals, Inc. focused on\ndeveloping Antibody-Helicon Conjugates (AHCs), a novel therapeutic modality\ncombining Regeneron's VelocImmune® antibody technologies with Parabilis'\nproprietary Helicon platform to selectively target undruggable and challenging\nintracellular disease-driving proteins; Parabilis received $125 million,\nincluding $50 million in upfront consideration and a $75 million equity\ninvestment, and the collaboration provides the potential for up to\napproximately $2.2 billion in development, regulatory and commercial milestone\npayments, plus up to low double-digit tiered royalties\n* Continued advancing multiple wholly owned Helicon-based preclinical programs\ntargeting historically undruggable intracellular proteins, including ERG and\nallosteric AR(ON) degraders in prostate cancer and a β-catenin degrader\nprogram\nStrengthened Leadership and Governance\nParabilis continued to strengthen its leadership team and Board of Directors\nto support the Company's next phase of growth as a public company.\n* Expanded\n(https://investors.parabilismed.com/news-releases/news-release-details/parabilis-medicines-expands-executive-leadership-team)\nthe Company’s executive leadership team through the appointments of Helen\nHo, Ph.D., as Chief Business & Strategy Officer, and Tom Kotarakos as Chief\nFinancial Officer\n* Appointed\n(https://investors.parabilismed.com/news-releases/news-release-details/parabilis-medicines-appoints-biopharmaceutical-finance-leader)\nAlan M. Sebulsky to the Board of Directors, bringing more than three decades\nof biopharmaceutical finance and operational leadership experience\nCompleted Initial Public Offering\nDuring the quarter, Parabilis successfully completed\n(https://www.globenewswire.com/Tracker?data=KFqeZlItTxk0oeFvgNsIRULMXiYLkoqcTDjEVrcc6UzVLloo1ZH4l8k2Ag_Hk0T-IicMQDPJu4XeduoJndeH90fWx2bQ_rh3dMByruSRFLcnJ0kZo8PIwuYDPp0RAIIdI1zBNWpIfv1U8zqgUmwW0fUtHiGBc4OqDaK0SKEJMA_k6-C1UofcNy5ZMFo2NxbLYQct20IwWpBstchsydHMwZ-XCqniPTCPMEvO3V6gIvA=)\nits upsized initial public offering, raising a total of $770.5 million (before\noffering expenses), strengthening the Company's balance sheet to support the\ncontinued advancement of its clinical pipeline and proprietary Helicon™\nplatform.\n* Closed upsized initial public offering of common stock, including the full\nexercise of the underwriters' option to purchase additional shares, at an\ninitial public offering price of $20.00 per share\n* Completed a concurrent private placement with Regeneron resulting in gross\nproceeds of approximately $75 million\n* Began trading on the Nasdaq Global Select Market under the ticker\nsymbol \"PBLS\" on June 10, 2026\nSecond Quarter Financial Results\nCash position: Cash, cash equivalents and marketable securities were $1.1\nbillion as of June 30, 2026, compared to $27.7 million as of December 31,\n2025. The Company's cash, cash equivalents and marketable securities as of\nJune 30, 2026 are expected to fund its operations into 2030.\n\nR&D expenses: Research and development expenses were $39.4 million for the\nquarter ended June 30, 2026, compared to $30.1 million for the comparable\nprior year period. The increase of $9.3 million was primarily driven by\nongoing investment in the clinical development of zolucatetide across a number\nof indications, increased employee-related costs (including stock-based\ncompensation) associated with increased hiring to support the advancing\nclinical pipeline, and progression of the Company’s preclinical β-catenin,\nERG, and AR(ON) degrader programs.\n\nG&A expenses: General and administrative expenses were $11.7 million for the\nquarter ended June 30, 2026, compared to $6.4 million for the comparable prior\nyear period. The increase of $5.3 million was primarily due to higher\nemployee-related costs (including stock-based compensation) related to\nincreased hiring to support the Company's growth as it advances its clinical\nprograms, and expenses associated with operating as a public company.\n\nNet loss: Net loss was $52.5 million for the quarter ended June 30, 2026,\ncompared to $34.8 million for the comparable prior year period. The increase\nin net loss of $17.7 million was primarily driven by increased operating\nexpenses.\n\nAbout Parabilis Medicines \nParabilis Medicines (Nasdaq: PBLS) is a clinical-stage biopharmaceutical\ncompany dedicated to creating extraordinary medicines for patients with\nserious diseases by unlocking biologically important targets long considered\nundruggable. The company has pioneered a new class of alpha-helical peptides\n– Helicons™ – capable of modulating intracellular proteins that have\nhistorically been beyond the reach of conventional medicines. The company’s\nlead investigational medicine, zolucatetide, is the first and only direct\ninhibitor of the β-catenin:TCF interaction, a central node in the\nWnt/β-catenin pathway that has eluded drug developers for decades.\nZolucatetide is being evaluated in the clinic across multiple\nWnt/β-catenin-driven diseases, including desmoid tumors, familial adenomatous\npolyposis (FAP), adamantinomatous craniopharyngioma (ACP) and a range\nof other solid tumor indications. Beyond zolucatetide, Parabilis is\nadvancing additional Helicon-based programs focused on other challenging\ntargets where we believe our medicines could have life-altering impact. For\nmore information, visit www.parabilismed.com or follow us on LinkedIn\n(https://www.globenewswire.com/Tracker?data=OVAo02FLIiRamQhi5KTyzi_vo-4XqjOIArVqJQRDPaIvxq5XTrDwh3AbHLHVR5mhGIT2tgWQrDId8AMXF0jzjDRTkro_o33uXu0nqlYKF6J7k5HNIwLFDXYlvwfw69Slk68SdwjpD5CaU3qnEos2gpa8CCnqYVfKpeOmqQQekhE=).\n\nForward-Looking Statements\nThis press release contains “forward-looking statements” within the\nmeaning of Section 27A of the Securities Act of 1933 and Section 21E of the\nSecurities Exchange Act of 1934, each as amended. The words “anticipate,”\n“believe,” “continue,” “could,” “estimate,” “expect,”\n“intend,” “may,” “plan,” “potential,” “predict,”\n“project,” “should,” “target,” “would” and similar expressions\nare intended to identify forward-looking statements, although not all\nforward-looking statements contain these identifying words. These\nforward-looking statements include, but are not limited to, express or implied\nstatements regarding: the clinical development of zolucatetide for the\ntreatment of desmoid tumors, FAP, ACP and other rare, Wnt-driven tumors,\nincluding the initiation, timing, progress, results and future data releases\nof our ongoing and planned clinical trials; the expected initiation and timing\nof the Company’s planned Phase 3 registrational trial in desmoid tumors; the\nexpected timing and results of the ongoing Phase 1/2 study in desmoid tumors;\nthe expected enrollment and timing of certain patient cohorts in Wnt-driven\ntumors; the expected timing and results of and anticipated payments under the\nCompany’s collaboration agreement with Regeneron; the expected timing and\nresults of the Company’s preclinical development of its ERG degrader, AR(ON)\ndegrader and β-catenin degrader development candidates; the potential of the\nCompany’s Helicon™ technology platform; expectations regarding the\ndevelopment of any future product candidates using the Company’s Helicon™\ntechnology platform; expectations regarding the efficacy, tolerability, and\ncommercial potential of zolucatetide; and expectations for the Company’s\nuses of capital, expenses and financial results, including its cash runway\ninto 2030.\n\nAny forward-looking statements in this press release are based on\nmanagement’s current expectations and beliefs and are subject to a number of\nrisks and uncertainties that could negatively affect the Company’s business,\noperating results, financial condition and stock value. Factors that could\ncause actual events or results to differ materially from those expressed or\nimplied by any forward-looking statements contained in this press release\ninclude, without limitation: risks relating to the Company’s research and\ndevelopment activities; the Company’s ability to execute on its strategy\nincluding obtaining the requisite regulatory approvals on the expected\ntimeline, if at all; uncertainties relating to preclinical and clinical\ndevelopment activities; the Company’s dependence on third parties to conduct\nclinical trials, manufacture its product candidates and develop and\ncommercialize its product candidates, if approved; the Company’s ability to\nattract, integrate and retain key personnel; risks related to the Company’s\nfinancial condition and need for substantial additional funds in order to\ncomplete development activities and commercialize a product candidate, if\napproved; risks related to regulatory developments and approval processes of\nthe U.S. Food and Drug Administration and comparable foreign regulatory\nauthorities; risks related to establishing and maintaining the Company’s\nintellectual property protections; and risks related to the competitive\nlandscape for the Company’s product candidates; as well as other risks and\nuncertainties described in greater detail in “Risk Factors,” in the\nCompany’s most recent Quarterly Report on Form 10-Q, as well as discussions\nof potential risks, uncertainties, and other important factors in the\nCompany’s subsequent filings with the Securities and Exchange Commission.\nAny forward-looking statements represent the Company’s views only as of\ntoday and should not be relied upon as representing its views as of any\nsubsequent date. The Company expressly disclaims any obligation or undertaking\nto release publicly any updates or revisions to any forward-looking statements\ncontained herein to reflect any change in its expectations or any changes in\nevents, conditions or circumstances on which any such statement is based,\nexcept as required by law, and claims the protection of the safe harbor for\nforward-looking statements contained in the Private Securities Litigation\nReform Act of 1995.\n\nMedia Contact\nJessica Freifeld\nmedia@parabilismed.com\n\nInvestor Contact: \nTom Kotarakos\ninvestors@parabilismed.com\n\n Parabilis Medicines, Inc. Condensed Consolidated Balance Sheets (in thousands) (unaudited)                                          \n                                                                                        June 30,               December 31,          \n                                                                                        2026                   2025                  \n Assets                                                                                                                              \n Current assets:                                                                                                                     \n Cash and cash equivalents                                                              $      1,087,060       $        27,711       \n Marketable securities                                                                         33,637                   —            \n Prepaid expenses and other current assets                                                     4,699                    1,647        \n Total current assets                                                                          1,125,396                29,358       \n Property and equipment, net                                                                   6,718                    6,715        \n Restricted cash                                                                               2,855                    2,855        \n Operating lease right-of-use assets                                                           36,007                   39,360       \n Other assets                                                                                  4,286                    2,532        \n Total assets                                                                           $      1,175,262       $        80,820       \n Liabilities, convertible preferred stock and stockholders’ equity (deficit)                                                         \n Current liabilities:                                                                                                                \n Accounts payable                                                                       $      18,525          $        17,272       \n Accrued expenses and other current liabilities                                                19,972                   18,630       \n Operating lease liabilities, current portion                                                  7,592                    7,174        \n Deferred revenue, current portion                                                             10,371                   —            \n Finance lease liabilities, current portion                                                    669                      638          \n Term loan, net of discount                                                                    5,710                    13,077       \n Total current liabilities                                                                     62,839                   56,791       \n Operating lease liabilities, net of current portion                                           32,413                   36,341       \n Finance lease liabilities, net of current portion                                             1,128                    1,470        \n Deferred revenue, net of current portion                                                      31,148                   —            \n Other liabilities                                                                             —                        2,742        \n Total liabilities                                                                             127,528                  97,344       \n Commitments and contingencies                                                                                                       \n Convertible preferred stock                                                                   —                        509,971      \n Stockholders’ equity (deficit):                                                                                                     \n Preferred stock                                                                               —                        —            \n Common stock                                                                                  12                       —            \n Non-voting common stock                                                                       —                        —            \n Additional paid-in capital                                                                    1,687,023                15,009       \n Accumulated other comprehensive loss                                                          (18        )             —            \n Accumulated deficit                                                                           (639,283   )             (541,504  )  \n Total stockholders’ equity (deficit)                                                          1,047,734                (526,495  )  \n Total liabilities, convertible preferred stock and stockholders’ equity (deficit)      $      1,175,262       $        80,820       \n                                                                                                                                     \n\n\n\n Parabilis Medicines, Inc. Condensed Consolidated Statements of Operations and Comprehensive Loss (in thousands, except share and per share amounts) (unaudited)                         \n                                                                           Three Months Ended June 30,                             Six Months Ended June 30,                             \n                                                                           2026                             2025                   2026                             2025                 \n Collaboration revenue                                                     $      148                       $      —               $      148                       $      —             \n Operating expenses:                                                                                                                                                                     \n Research and development                                                         39,377                           30,126                 77,130                           64,031        \n General and administrative                                                       11,657                           6,394                  21,357                           12,730        \n Total operating expenses                                                         51,034                           36,520                 98,487                           76,761        \n Loss from operations                                                             (50,886     )                    (36,520    )           (98,339     )                    (76,761    )  \n Other income (expense):                                                                                                                                                                 \n Interest income                                                                  4,189                            1,049                  6,618                            2,306         \n Interest expense                                                                 (210        )                    (396       )           (502        )                    (795       )  \n Sublease income - related party                                                  —                                1,057                  —                                2,114         \n Change in fair value of simple agreement for future equity                       (5,556      )                    —                      (5,556      )                    —             \n Total other (expense) income, net                                                (1,577      )                    1,710                  560                              3,625         \n Net loss                                                                  $      (52,463     )             $      (34,810    )    $      (97,779     )             $      (73,136    )  \n Cumulative dividends on convertible preferred stock                              (14,492     )                    (10,184    )           (32,181     )                    (19,965    )  \n Deemed dividend upon down-round of convertible preferred stock                   —                                —                      (7,875      )                    —             \n Net loss allocable to common stockholders                                 $      (66,955     )             $      (44,994    )    $      (137,835    )             $      (93,101    )  \n Net loss per share allocable to common stockholders, basic and diluted    $      (2.32       )             $      (22.28     )    $      (8.86       )             $      (46.13     )  \n Weighted average common shares outstanding, basic and diluted                    28,908,277                       2,019,111              15,553,335                       2,018,354     \n Comprehensive loss:                                                                                                                                                                     \n Net loss                                                                  $      (52,463     )             $      (34,810    )    $      (97,779     )             $      (73,136    )  \n Change in unrealized gains (losses) on marketable securities                     (18         )                    (5         )           (18         )                    (21        )  \n Comprehensive loss                                                        $      (52,481     )             $      (34,815    )    $      (97,797     )             $      (73,157    )  \n\n\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/544a8a5f-a0fa-4ff4-8891-e9b401e9987a)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX7n33","title":"Parabilis Medicines Reports Second Quarter 2026 Financial Results and Provides Business Updates","author":"Globe Newswire","ticker":"PBLS","created":"2026-08-13T11:00:00.524Z","tickers":["PBLS"],"exchange":"NASDAQ","article_body":"Advanced zolucatetide across multiple Wnt/β-catenin-driven diseases,\nincluding progress toward planned Phase 3 registrational trial in desmoid\ntumors \n\nAnnounced strategic research collaboration with Regeneron to develop\nAntibody-Helicon Conjugates, expanding application of company's proprietary\nHelicon(TM) platform; received $125M in upfront consideration and equity\ninvestment, with the potential for up to $2.2B in milestone payments plus\ntiered royalties\n\nEnded the second quarter with a strong financial position with $1.1B in cash,\ncash equivalents and marketable securities, following completion of $770.5M\ninitial public offering and other transactions, expected to fund operations\ninto 2030\n\nCAMBRIDGE, Mass., Aug. 13, 2026 (GLOBE NEWSWIRE) -- Parabilis Medicines\n(Nasdaq: PBLS), a clinical-stage biopharmaceutical company dedicated to\ncreating extraordinary medicines for patients with serious diseases by\nunlocking historically undruggable targets, today reported financial results\nand business updates for the second quarter ended June 30, 2026.\n\n“This quarter marked meaningful progress toward our long-term vision as we\ncontinued advancing zolucatetide across multiple Wnt/β-catenin-driven\ndiseases, including toward planned registrational development in desmoid\ntumors, while also extending the reach of our Helicon™ platform through our\nstrategic research collaboration with Regeneron focused on developing\nAntibody-Helicon Conjugates,\" said Mathai Mammen, M.D., Ph.D., Chairman,\nPresident and Chief Executive Officer of Parabilis Medicines. \n\nDr. Mammen continued, \"The body of encouraging clinical evidence for\nzolucatetide has strengthened our conviction both in its potential to\ntransform the treatment of patients with Wnt/β-catenin-driven diseases and in\nthe broader ability of Helicons to unlock biologically important intracellular\ntargets that have historically been beyond the reach of conventional\ntherapeutic approaches. With a strong balance sheet following our successful\ninitial public offering, we believe we are well positioned to deliver\nimportant clinical and regulatory milestones over the coming quarters as we\ncontinue advancing medicines designed to target the causal biology and deliver\nmeaningful impact for patients with serious diseases.\"\n\nRecent Business Highlights & Anticipated Milestones \n\nContinued Advancement of Zolucatetide\nZolucatetide is Parabilis' lead investigational Helicon and the first and only\ndirect inhibitor of the β-catenin:TCF interaction in clinical development.\nThe investigational therapy is being evaluated as a “pipeline in a\nproduct” across multiple Wnt/β-catenin-driven diseases, with promising\nearly clinical data demonstrating its potential in desmoid tumors, with\nfamilial adenomatous polyposis (FAP) and adamantinomatous craniopharyngioma\n(ACP) as potential genetically anchored expansion opportunities.\n\nDesmoid tumors\n* Abstract accepted for oral presentation at the European Society for Medical\nOncology (ESMO) Congress 2026 (Oct. 23-27, Madrid), with a plan to share\nclinical data from the February data cut from the ongoing Phase 1/2 study of\nzolucatetide in desmoid tumor patients\n* Expect to present more mature clinical data from the ongoing Phase 1/2 study\nin desmoid tumors during the fourth quarter of 2026\n* Expect to engage with the U.S. Food and Drug Administration (FDA) during the\nfourth quarter of 2026 to discuss and align on the planned registrational\nPhase 3 trial\n* On track to initiate Phase 3 registrational trial in the first half of 2027\nFamilial adenomatous polyposis (FAP)\n* Expect to initiate enrollment in a dedicated clinical cohort evaluating\nzolucatetide in patients with FAP during the second half of 2026\n* Anticipate disclosing additional FAP data in the first quarter of 2027\nAdamantinomatous craniopharyngioma (ACP)\n* Expect to share clinical data from additional patients in the first half of\n2027 for ACP, a locally aggressive tumor arising near the pituitary gland\nassociated with significant lifelong morbidity and no approved drug therapies,\nwith a conservatively estimated 15-year prevalence of approximately 5,000 to\n9,000 patients in the U.S.\nAdditional Wnt-driven tumors\n* Continue to enroll patients across additional cohorts evaluating\nzolucatetide across additional indications with high unmet medical need,\nincluding hepatocellular carcinoma (HCC), colorectal cancer (CRC) in rational\ncombinations, and other Wnt-driven solid tumors\n* Correspondence published\n(https://www.nejm.org/doi/full/10.1056/NEJMc2517783) in the New England\nJournal of Medicine (NEJM) demonstrates durable clinical and radiologic\nresponse to zolucatetide in a patient with recurrent ameloblastoma – a\nlocally aggressive tumor of the jaw – driven by Wnt/β-catenin pathway\nalterations, providing further clinical validation of zolucatetide's mechanism\nof action\nExpanded the Application of the Helicon Platform\nDuring the second quarter of 2026, Parabilis continued to expand the reach of\nits proprietary Helicon platform through strategic partnerships and\nadvancement of its wholly-owned discovery pipeline.\n* Announced\n(https://investors.parabilismed.com/news-releases/news-release-details/parabilis-medicines-announces-strategic-collaboration-regeneron)\na strategic collaboration with Regeneron Pharmaceuticals, Inc. focused on\ndeveloping Antibody-Helicon Conjugates (AHCs), a novel therapeutic modality\ncombining Regeneron's VelocImmune® antibody technologies with Parabilis'\nproprietary Helicon platform to selectively target undruggable and challenging\nintracellular disease-driving proteins; Parabilis received $125 million,\nincluding $50 million in upfront consideration and a $75 million equity\ninvestment, and the collaboration provides the potential for up to\napproximately $2.2 billion in development, regulatory and commercial milestone\npayments, plus up to low double-digit tiered royalties\n* Continued advancing multiple wholly owned Helicon-based preclinical programs\ntargeting historically undruggable intracellular proteins, including ERG and\nallosteric AR(ON) degraders in prostate cancer and a β-catenin degrader\nprogram\nStrengthened Leadership and Governance\nParabilis continued to strengthen its leadership team and Board of Directors\nto support the Company's next phase of growth as a public company.\n* Expanded\n(https://investors.parabilismed.com/news-releases/news-release-details/parabilis-medicines-expands-executive-leadership-team)\nthe Company’s executive leadership team through the appointments of Helen\nHo, Ph.D., as Chief Business & Strategy Officer, and Tom Kotarakos as Chief\nFinancial Officer\n* Appointed\n(https://investors.parabilismed.com/news-releases/news-release-details/parabilis-medicines-appoints-biopharmaceutical-finance-leader)\nAlan M. Sebulsky to the Board of Directors, bringing more than three decades\nof biopharmaceutical finance and operational leadership experience\nCompleted Initial Public Offering\nDuring the quarter, Parabilis successfully completed\n(https://www.globenewswire.com/Tracker?data=KFqeZlItTxk0oeFvgNsIRULMXiYLkoqcTDjEVrcc6UzVLloo1ZH4l8k2Ag_Hk0T-IicMQDPJu4XeduoJndeH90fWx2bQ_rh3dMByruSRFLcnJ0kZo8PIwuYDPp0RAIIdI1zBNWpIfv1U8zqgUmwW0fUtHiGBc4OqDaK0SKEJMA_k6-C1UofcNy5ZMFo2NxbLYQct20IwWpBstchsydHMwZ-XCqniPTCPMEvO3V6gIvA=)\nits upsized initial public offering, raising a total of $770.5 million (before\noffering expenses), strengthening the Company's balance sheet to support the\ncontinued advancement of its clinical pipeline and proprietary Helicon™\nplatform.\n* Closed upsized initial public offering of common stock, including the full\nexercise of the underwriters' option to purchase additional shares, at an\ninitial public offering price of $20.00 per share\n* Completed a concurrent private placement with Regeneron resulting in gross\nproceeds of approximately $75 million\n* Began trading on the Nasdaq Global Select Market under the ticker\nsymbol \"PBLS\" on June 10, 2026\nSecond Quarter Financial Results\nCash position: Cash, cash equivalents and marketable securities were $1.1\nbillion as of June 30, 2026, compared to $27.7 million as of December 31,\n2025. The Company's cash, cash equivalents and marketable securities as of\nJune 30, 2026 are expected to fund its operations into 2030.\n\nR&D expenses: Research and development expenses were $39.4 million for the\nquarter ended June 30, 2026, compared to $30.1 million for the comparable\nprior year period. The increase of $9.3 million was primarily driven by\nongoing investment in the clinical development of zolucatetide across a number\nof indications, increased employee-related costs (including stock-based\ncompensation) associated with increased hiring to support the advancing\nclinical pipeline, and progression of the Company’s preclinical β-catenin,\nERG, and AR(ON) degrader programs.\n\nG&A expenses: General and administrative expenses were $11.7 million for the\nquarter ended June 30, 2026, compared to $6.4 million for the comparable prior\nyear period. The increase of $5.3 million was primarily due to higher\nemployee-related costs (including stock-based compensation) related to\nincreased hiring to support the Company's growth as it advances its clinical\nprograms, and expenses associated with operating as a public company.\n\nNet loss: Net loss was $52.5 million for the quarter ended June 30, 2026,\ncompared to $34.8 million for the comparable prior year period. The increase\nin net loss of $17.7 million was primarily driven by increased operating\nexpenses.\n\nAbout Parabilis Medicines \nParabilis Medicines (Nasdaq: PBLS) is a clinical-stage biopharmaceutical\ncompany dedicated to creating extraordinary medicines for patients with\nserious diseases by unlocking biologically important targets long considered\nundruggable. The company has pioneered a new class of alpha-helical peptides\n– Helicons™ – capable of modulating intracellular proteins that have\nhistorically been beyond the reach of conventional medicines. The company’s\nlead investigational medicine, zolucatetide, is the first and only direct\ninhibitor of the β-catenin:TCF interaction, a central node in the\nWnt/β-catenin pathway that has eluded drug developers for decades.\nZolucatetide is being evaluated in the clinic across multiple\nWnt/β-catenin-driven diseases, including desmoid tumors, familial adenomatous\npolyposis (FAP), adamantinomatous craniopharyngioma (ACP) and a range\nof other solid tumor indications. Beyond zolucatetide, Parabilis is\nadvancing additional Helicon-based programs focused on other challenging\ntargets where we believe our medicines could have life-altering impact. For\nmore information, visit www.parabilismed.com or follow us on LinkedIn\n(https://www.globenewswire.com/Tracker?data=OVAo02FLIiRamQhi5KTyzi_vo-4XqjOIArVqJQRDPaIvxq5XTrDwh3AbHLHVR5mhGIT2tgWQrDId8AMXF0jzjDRTkro_o33uXu0nqlYKF6J7k5HNIwLFDXYlvwfw69Slk68SdwjpD5CaU3qnEos2gpa8CCnqYVfKpeOmqQQekhE=).\n\nForward-Looking Statements\nThis press release contains “forward-looking statements” within the\nmeaning of Section 27A of the Securities Act of 1933 and Section 21E of the\nSecurities Exchange Act of 1934, each as amended. The words “anticipate,”\n“believe,” “continue,” “could,” “estimate,” “expect,”\n“intend,” “may,” “plan,” “potential,” “predict,”\n“project,” “should,” “target,” “would” and similar expressions\nare intended to identify forward-looking statements, although not all\nforward-looking statements contain these identifying words. These\nforward-looking statements include, but are not limited to, express or implied\nstatements regarding: the clinical development of zolucatetide for the\ntreatment of desmoid tumors, FAP, ACP and other rare, Wnt-driven tumors,\nincluding the initiation, timing, progress, results and future data releases\nof our ongoing and planned clinical trials; the expected initiation and timing\nof the Company’s planned Phase 3 registrational trial in desmoid tumors; the\nexpected timing and results of the ongoing Phase 1/2 study in desmoid tumors;\nthe expected enrollment and timing of certain patient cohorts in Wnt-driven\ntumors; the expected timing and results of and anticipated payments under the\nCompany’s collaboration agreement with Regeneron; the expected timing and\nresults of the Company’s preclinical development of its ERG degrader, AR(ON)\ndegrader and β-catenin degrader development candidates; the potential of the\nCompany’s Helicon™ technology platform; expectations regarding the\ndevelopment of any future product candidates using the Company’s Helicon™\ntechnology platform; expectations regarding the efficacy, tolerability, and\ncommercial potential of zolucatetide; and expectations for the Company’s\nuses of capital, expenses and financial results, including its cash runway\ninto 2030.\n\nAny forward-looking statements in this press release are based on\nmanagement’s current expectations and beliefs and are subject to a number of\nrisks and uncertainties that could negatively affect the Company’s business,\noperating results, financial condition and stock value. Factors that could\ncause actual events or results to differ materially from those expressed or\nimplied by any forward-looking statements contained in this press release\ninclude, without limitation: risks relating to the Company’s research and\ndevelopment activities; the Company’s ability to execute on its strategy\nincluding obtaining the requisite regulatory approvals on the expected\ntimeline, if at all; uncertainties relating to preclinical and clinical\ndevelopment activities; the Company’s dependence on third parties to conduct\nclinical trials, manufacture its product candidates and develop and\ncommercialize its product candidates, if approved; the Company’s ability to\nattract, integrate and retain key personnel; risks related to the Company’s\nfinancial condition and need for substantial additional funds in order to\ncomplete development activities and commercialize a product candidate, if\napproved; risks related to regulatory developments and approval processes of\nthe U.S. Food and Drug Administration and comparable foreign regulatory\nauthorities; risks related to establishing and maintaining the Company’s\nintellectual property protections; and risks related to the competitive\nlandscape for the Company’s product candidates; as well as other risks and\nuncertainties described in greater detail in “Risk Factors,” in the\nCompany’s most recent Quarterly Report on Form 10-Q, as well as discussions\nof potential risks, uncertainties, and other important factors in the\nCompany’s subsequent filings with the Securities and Exchange Commission.\nAny forward-looking statements represent the Company’s views only as of\ntoday and should not be relied upon as representing its views as of any\nsubsequent date. The Company expressly disclaims any obligation or undertaking\nto release publicly any updates or revisions to any forward-looking statements\ncontained herein to reflect any change in its expectations or any changes in\nevents, conditions or circumstances on which any such statement is based,\nexcept as required by law, and claims the protection of the safe harbor for\nforward-looking statements contained in the Private Securities Litigation\nReform Act of 1995.\n\nMedia Contact\nJessica Freifeld\nmedia@parabilismed.com\n\nInvestor Contact: \nTom Kotarakos\ninvestors@parabilismed.com\n\n Parabilis Medicines, Inc. Condensed Consolidated Balance Sheets (in thousands) (unaudited)                                          \n                                                                                        June 30,               December 31,          \n                                                                                        2026                   2025                  \n Assets                                                                                                                              \n Current assets:                                                                                                                     \n Cash and cash equivalents                                                              $      1,087,060       $        27,711       \n Marketable securities                                                                         33,637                   —            \n Prepaid expenses and other current assets                                                     4,699                    1,647        \n Total current assets                                                                          1,125,396                29,358       \n Property and equipment, net                                                                   6,718                    6,715        \n Restricted cash                                                                               2,855                    2,855        \n Operating lease right-of-use assets                                                           36,007                   39,360       \n Other assets                                                                                  4,286                    2,532        \n Total assets                                                                           $      1,175,262       $        80,820       \n Liabilities, convertible preferred stock and stockholders’ equity (deficit)                                                         \n Current liabilities:                                                                                                                \n Accounts payable                                                                       $      18,525          $        17,272       \n Accrued expenses and other current liabilities                                                19,972                   18,630       \n Operating lease liabilities, current portion                                                  7,592                    7,174        \n Deferred revenue, current portion                                                             10,371                   —            \n Finance lease liabilities, current portion                                                    669                      638          \n Term loan, net of discount                                                                    5,710                    13,077       \n Total current liabilities                                                                     62,839                   56,791       \n Operating lease liabilities, net of current portion                                           32,413                   36,341       \n Finance lease liabilities, net of current portion                                             1,128                    1,470        \n Deferred revenue, net of current portion                                                      31,148                   —            \n Other liabilities                                                                             —                        2,742        \n Total liabilities                                                                             127,528                  97,344       \n Commitments and contingencies                                                                                                       \n Convertible preferred stock                                                                   —                        509,971      \n Stockholders’ equity (deficit):                                                                                                     \n Preferred stock                                                                               —                        —            \n Common stock                                                                                  12                       —            \n Non-voting common stock                                                                       —                        —            \n Additional paid-in capital                                                                    1,687,023                15,009       \n Accumulated other comprehensive loss                                                          (18        )             —            \n Accumulated deficit                                                                           (639,283   )             (541,504  )  \n Total stockholders’ equity (deficit)                                                          1,047,734                (526,495  )  \n Total liabilities, convertible preferred stock and stockholders’ equity (deficit)      $      1,175,262       $        80,820       \n                                                                                                                                     \n\n\n\n Parabilis Medicines, Inc. Condensed Consolidated Statements of Operations and Comprehensive Loss (in thousands, except share and per share amounts) (unaudited)                         \n                                                                           Three Months Ended June 30,                             Six Months Ended June 30,                             \n                                                                           2026                             2025                   2026                             2025                 \n Collaboration revenue                                                     $      148                       $      —               $      148                       $      —             \n Operating expenses:                                                                                                                                                                     \n Research and development                                                         39,377                           30,126                 77,130                           64,031        \n General and administrative                                                       11,657                           6,394                  21,357                           12,730        \n Total operating expenses                                                         51,034                           36,520                 98,487                           76,761        \n Loss from operations                                                             (50,886     )                    (36,520    )           (98,339     )                    (76,761    )  \n Other income (expense):                                                                                                                                                                 \n Interest income                                                                  4,189                            1,049                  6,618                            2,306         \n Interest expense                                                                 (210        )                    (396       )           (502        )                    (795       )  \n Sublease income - related party                                                  —                                1,057                  —                                2,114         \n Change in fair value of simple agreement for future equity                       (5,556      )                    —                      (5,556      )                    —             \n Total other (expense) income, net                                                (1,577      )                    1,710                  560                              3,625         \n Net loss                                                                  $      (52,463     )             $      (34,810    )    $      (97,779     )             $      (73,136    )  \n Cumulative dividends on convertible preferred stock                              (14,492     )                    (10,184    )           (32,181     )                    (19,965    )  \n Deemed dividend upon down-round of convertible preferred stock                   —                                —                      (7,875      )                    —             \n Net loss allocable to common stockholders                                 $      (66,955     )             $      (44,994    )    $      (137,835    )             $      (93,101    )  \n Net loss per share allocable to common stockholders, basic and diluted    $      (2.32       )             $      (22.28     )    $      (8.86       )             $      (46.13     )  \n Weighted average common shares outstanding, basic and diluted                    28,908,277                       2,019,111              15,553,335                       2,018,354     \n Comprehensive loss:                                                                                                                                                                     \n Net loss                                                                  $      (52,463     )             $      (34,810    )    $      (97,779     )             $      (73,136    )  \n Change in unrealized gains (losses) on marketable securities                     (18         )                    (5         )           (18         )                    (21        )  \n Comprehensive loss                                                        $      (52,481     )             $      (34,815    )    $      (97,797     )             $      (73,157    )  \n\n\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/544a8a5f-a0fa-4ff4-8891-e9b401e9987a)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-08-13T11:00:00.580866634Z","server_sent_at_ms":1786618800580},"received_at":"2026-08-13T11:00:00.674Z","source_url":"https://www.globenewswire.com/news-release/2026/08/13/3344336/0/en/parabilis-medicines-reports-second-quarter-2026-financial-results-and-provides-business-updates.html"},"analysis":{"id":"106823","press_release_id":"117831","analysis_json":{"industry":{"label":"Biotechnology","sector":"Health Care"},"redFlags":["Q2 net loss widened to $52.5 million from $34.8 million in the prior year, driven by increased R&D and public company costs"],"eventType":"earnings","narrative":"Parabilis ended the second quarter with $1.1 billion in cash following its $770.5 million IPO, providing a financial runway expected to fund operations into 2030.\n\nThe company remains on track to initiate a Phase 3 registrational trial for its lead asset zolucatetide in desmoid tumors in the first half of 2027, with plans to engage the FDA in the fourth quarter of this year.\n\nParabilis also detailed its strategic collaboration with Regeneron, noting the receipt of $125 million in upfront cash and equity investment with the potential for over $2.2 billion in future milestone payments.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Post-IPO cash fortress ($1.1B) secures runway through 2030 as zolucatetide advances to Phase 3 and Regeneron partnership ramps up."},"keyFigures":{"cash":"$1.1 billion","netLoss":"$52.5 million","revenue":148000,"guidance":"Phase 3 registrational trial for zolucatetide expected to initiate in first half of 2027; expects to engage with FDA in Q4 2026","cashRunway":"into 2030","gaExpenses":"$11.7 million","rdExpenses":"$39.4 million","customDimensions":{"ipo_price":"$20.00","ipo_proceeds":"$770.5 million","regeneron_upfront":"$125 million","shares_weighted_avg":"28,908,277","regeneron_equity_investment":"$75 million","regeneron_milestones_potential":"$2.2 billion"}},"quotedText":"With a strong balance sheet following our successful initial public offering, we believe we are well positioned to deliver important clinical and regulatory milestones over the coming quarters as we continue advancing medicines designed to target the causal biology and deliver meaningful impact for patients with serious diseases.","namedEntities":{"people":[{"name":"Mathai Mammen","role":"Chairman, President and Chief Executive Officer"},{"name":"Helen Ho","role":"Chief Business & Strategy Officer"},{"name":"Tom Kotarakos","role":"Chief Financial Officer"},{"name":"Alan M. 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Operational highlights include confirmation of Phase 3 trial timing for lead asset zolucatetide and the substantial upfront payment from the Regeneron partnership."},"tickerRelevance":{"others":[],"primary":"PBLS"},"globalImportance":25,"audienceRelevance":35,"eventTypeSecondary":["clinical_trial","partnership"],"importanceComponents":{"tickerTier":"small-mid-cap","eventGravity":"strong_operational_update","sectorWeight":"biotech","financialDeRisking":"runway_extension_to_2030"}},"event_type":"earnings","event_type_secondary":["clinical_trial","partnership"],"sentiment":"bullish","material_impact_score":4,"narrative":"Parabilis ended the second quarter with $1.1 billion in cash following its $770.5 million IPO, providing a financial runway expected to fund operations into 2030.\n\nThe company remains on track to initiate a Phase 3 registrational trial for its lead asset zolucatetide in desmoid tumors in the first half of 2027, with plans to engage the FDA in the fourth quarter of this year.\n\nParabilis also detailed its strategic collaboration with Regeneron, noting the receipt of $125 million in upfront cash and equity investment with the potential for over $2.2 billion in future milestone payments.","key_figures":{"cash":"$1.1 billion","netLoss":"$52.5 million","revenue":148000,"guidance":"Phase 3 registrational trial for zolucatetide expected to initiate in first half of 2027; expects to engage with FDA in Q4 2026","cashRunway":"into 2030","gaExpenses":"$11.7 million","rdExpenses":"$39.4 million","customDimensions":{"ipo_price":"$20.00","ipo_proceeds":"$770.5 million","regeneron_upfront":"$125 million","shares_weighted_avg":"28,908,277","regeneron_equity_investment":"$75 million","regeneron_milestones_potential":"$2.2 billion"}},"named_entities":{"people":[{"name":"Mathai Mammen","role":"Chairman, President and Chief Executive Officer"},{"name":"Helen Ho","role":"Chief Business & Strategy Officer"},{"name":"Tom Kotarakos","role":"Chief Financial Officer"},{"name":"Alan M. Sebulsky","role":"Board of Directors"}],"products":["Zolucatetide","Helicon","Antibody-Helicon Conjugates"],"companies":[{"name":"Parabilis Medicines","ticker":"PBLS"},{"name":"Regeneron Pharmaceuticals, Inc.","relationship":"partner"}],"dollarAmounts":[{"amount":"$1.1 billion","context":"cash, cash equivalents and marketable securities as of June 30, 2026"},{"amount":"$125 million","context":"upfront consideration and equity investment from Regeneron"},{"amount":"$2.2 billion","context":"potential milestone payments from Regeneron collaboration"},{"amount":"$770.5 million","context":"gross proceeds from initial public offering"},{"amount":"$20.00","context":"initial public offering price per share"},{"amount":"$52.5 million","context":"net loss for Q2 2026"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-13T11:36:36.022Z","global_importance":25,"audience_relevance":35,"importance_components":{"tickerTier":"small-mid-cap","eventGravity":"strong_operational_update","sectorWeight":"biotech","financialDeRisking":"runway_extension_to_2030"}},"durationMs":280182,"modelName":"glm-4.7"}}