Aiming to make ‘undruggable‘ targets a thing of the past; Initiate at Buy, $45 PO

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Aiming to make ‘undruggable‘ targets a thing of the past; Initiate at Buy, $45 PO

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Parabilis Medicines, Inc

Aiming to make ‘undruggable’ targets a

thing of the past; Initiate at Buy, $45 PO

Initiating Coverage: BUY | PO: 45.00 USD | Price: 29.58 USD

Helicon platform aiming for undruggable targets 06 July 2026

We initiate coverage of Parabilis Medicines (PBLS) with a Buy and $45 PO. PBLS is a Equity

clinical-stage biotech developing therapeutics for previously ‘undruggable’ targets.

Underpinned by its novel AI-driven Helicon platform, PBLS is focused on lead asset Tazeen Ahmad Research Analyst

zolucatetide for non-cancerous desmoid tumors. The company also has an early-stage BofAS

pipeline including a collaboration with REGN to expand novel antibody-helicon +1tazeen.ahmad@bofa.com646 855 4236

conjugates into new therapeutic areas beyond oncology. Early clinical data for zolu in Daniel Giraldo

desmoid tumors demonstrate compelling efficacy and safety, positioning zolu as the Research Analyst

BofAS

potential new SOC. PBLS will present more mature data in desmoid tumors in 2H and daniel.giraldoperez@bofa.com

initiate a phase 3 trial in 1H27, allowing for a line of sight to commercialization. Jeremiah Lorentz

Research Analyst

Lead asset has potential to be new SOC in desmoid BofASjeremiah.lorentz@bofa.com

Desmoid tumors represent an attractive market opportunity with a high unmet need Wesley Yon

with only ~40% response rates for current SOC and meaningful toxicity (GI & ovarian). Research Analyst

Zolu has shown 74% ORR and 100% disease control with no discontinuations to date, wesley.yon@bofa.com

comparing favorably to approved treatments. KOLs highlight both the magnitude of Amy Qian