Parabilis Medicines Holds $1.1 Billion in Cash and Expands Zolucatetide Program
Key Facts
Parabilis Medicines said cash, cash equivalents and marketable securities totaled $1.1 billion as of June 30, 2026, and that the balance is expected to fund its operations through 2030. The level gives the company funding to continue developing zolucatetide, its investigational drug. In its update, the company said the Phase 3 PEDESTAL trial is planned to start in the first half of 2027. Parabilis expects topline results in 2029. In a separate update, it announced a clinical collaboration with Revolution Medicines to evaluate zolucatetide in a drug combination for patients with metastatic colorectal cancer.
The combination to be evaluated includes zolucatetide, zoldonrasib and cetuximab, targeting previously treated patients with metastatic colorectal cancer that has a RAS G12D mutation and is microsatellite stable. The collaboration adds another research path for the drug alongside Parabilis' desmoid tumor program. The company did not specify a timeline for starting the evaluation or reporting results in its collaboration announcement. The announcement comes as the company prepares to advance the zolucatetide program to a Phase 3 trial. The company said its alignment with the U.S. Food and Drug Administration covered dose selection, the treatment regimen and trial design.
According to the company, the PEDESTAL trial will use a placebo-controlled design, with progression-free survival as a primary measure. The trial is planned to be randomized and double-blind, and is set to start in the first half of 2027. Parabilis said topline results are expected in 2029. The timeline sets out the program's next clinical milestones as the company continues to evaluate the drug in its current trials. Alignment with the FDA does not constitute approval of the drug; it addresses dose, regimen and trial-design elements.
In Phase 1/2 data published in October, Parabilis said the objective response rate was 72.2% at the week 32 mark among 18 response-evaluable patients who began treatment at a dose of at least 450 mg. The analysis covers patients who met the stated dose threshold and provides a clinical signal from the ongoing drug trial. The company also said no patients had discontinued treatment because of related side effects, and that reported side effects were mostly low-grade. The results provide context for the program ahead of the planned Phase 3 trial. The findings remain specific to the patients, doses and period covered by the analysis.
The zolucatetide program also extends to familial adenomatous polyposis, or FAP. In October, the company announced the start of a dose-finding cohort in adults who had undergone colectomy, had a documented APC mutation and had measurable duodenal adenomas. The cohort aims to evaluate zolucatetide as monotherapy in these patients. Parabilis said it expects to publish additional data in the first quarter of 2027 on FAP patients who also have desmoid tumors and are participating in the Phase 1/2 trial. This adds a program data milestone in the period before the planned start of PEDESTAL.
Available financial comparisons show that cash, cash equivalents and marketable securities stood at $27.7 million on Dec. 31, 2025, before reaching $1.1 billion on June 30, 2026. The company said the June balance is sufficient to fund its operations through 2030. EL7 data showed Parabilis shares closed at $29.65 on Nov. 11, 2026, while Revolution Medicines shares closed at $180.7 on the same day. Those prices reflect the close of the session before the third-quarter results announcement on Nov. 12. Parabilis' later milestones include additional FAP data in the first quarter of 2027, the start of PEDESTAL in the first half of the year, and topline results expected in 2029.