This Little-Known Biotech Just Delivered a Bigger IPO Pop Than SpaceX -- and Regeneron Is Already Invested

The June 10 IPO of Parabilis Medicines (NASDAQ: PBLS) closed up 58% from its $20 offer price. Two days later, Space Exploration Technologies, the largest IPO in history, finished its debut up just 19%. By that scoreboard, the cancer biotech outran the rocket company.That scoreboard is misleading, and besides, the more useful question for long-term holders is whether Parabilis earns a spot in a portfolio today. Let's unpack what this company is trying to do and what it's up against.Parabilis develops a platform for making what it calls Helicons, helical peptides designed to slip into cells and, once there, bind to flat protein surfaces that are typically impervious to small-molecule drugs and antibodies alike. The point of binding to those flat surfaces is that by doing so, it's theoretically possible to prevent the target protein from fulfilling its primary purpose within the cell, either temporarily or permanently, which is how the technology could be used for therapeutic effect.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool