RA Capital Acquires Additional 24,159 Shares of PBLS, Expanding Holdings to 26.52 Million Shares

RA Capital Management, L.P. increased its holdings to 26,529,686 shares by acquiring 241,593 shares of voting common stock of Parabilis Medicines, Inc. (ticker: PBLS) in separate transactions between July 20 and 22 at prices totaling approximately $27.15 million (between $27.13 and $30.00 per share).[2] This represents an increase from 26,383,526 shares and underscores the 10%+ shareholder and focused healthcare investor’s continued post-listing purchases.[2]

RA Capital holds PBLS voting common stock through RA Capital Healthcare Fund, L.P. and RA Capital Nexus Fund III, L.P., and RA Capital Management, L.P., RA Capital Management GP, LLC, as well as related individuals such as Peter Kolchinsky and Rajeev Shah, disclaim beneficial ownership beyond their respective pecuniary interests.[2] Jake Simson, a partner at RA Capital, serves on Parabilis’ board of directors, and this open-market purchase is interpreted as part of a longer-term stake buildup tied to that board appointment.[2]

The following table summarizes the individual trade details from July 20 to 22.[2]

Trade Date	Number of Shares Purchased	Purchase Price per Share (USD)	Total Transaction Amount (USD)
2026-07-20	98,433	27.13	2,671,192.29
2026-07-20	32,987	27.72	914,741.64
2026-07-21	21,696	27.96	606,129.66
2026-07-21	6,504	29.17	189,689.68
2026-07-21	37,723	30.00	1,131,690.00
2026-07-22	47,250	29.77	1,406,775.00

Separately, a Soleus-affiliated fund related to Guy Levy acquired 500,000 shares of common stock (split into 375,000 and 125,000 shares) at the IPO price of $20.00 per share on June 11—the date of PBLS’s initial public offering—totaling $10 million.[1] Following this transaction, one account’s indirect holdings increased to 1,027,000 shares and another account’s to 652,000 shares, while Levy and related Soleus entities disclaim beneficial ownership beyond their pecuniary interests.[1]

Also on June 11, 527,070 shares of Series F preferred stock, valued at a conversion price of $9.48 per share, were automatically converted into the same number of common shares, resulting in a conversion worth approximately $4,995,973.60.[1] As a result, the preferred position was extinguished and the indirect common stock holding increased by 527,070 shares.[1] Based on the IPO price of $20.00, Levy’s total indirect common stock holdings post-IPO are valued at approximately $44,028,200.[1]

The post-IPO holdings structure for the Levy-related accounts is as follows.[1]

Category	Number of Shares Held	Notes
Common Stock (Account 1)	1,027,000	Partially acquired at the $20 IPO price
Common Stock (Account 2)	652,000	Partially acquired at the $20 IPO price
Common Stock (converted from Series F Preferred)	527,070	Conversion at $9.48 price

These Form 4 filings confirm that both RA Capital and Soleus are maintaining and increasing substantial stakes in PBLS post-IPO, demonstrating that major institutional investors continue to bet on the outlook of the company’s biopharmaceutical pipeline.[1][2]