Electra Therapeutics files for IPO to fund lead antibody in blood disorder sHLH

Electra Therapeutics filed an S-1 with the SEC on August 28, 2026 for an initial public offering of common stock, seeking to list on the Nasdaq Global Select Market under the ticker "ETRA."

The company describes itself as a late clinical-stage biopharmaceutical company focused on pioneering a new class of precision medicines for the treatment of immune-mediated diseases and cancer.¹ Its lead candidate, ipsoprubart, is a novel pan-SIRP monoclonal antibody designed to selectively deplete pathological myeloid cells and T cells, currently in a global registrational program for patients with secondary hemophagocytic lymphohistiocytosis (sHLH).¹

In its Phase 1b trial, ipsoprubart was generally well tolerated and demonstrated a 100% 8-week overall survival rate and 100% overall response rate in 12 frontline patients with malignancy-associated HLH, with 10 patients achieving a partial response and two achieving a modified complete response.¹ The company said ipsoprubart has received Breakthrough Therapy designation from the FDA and PRIME designation from the EMA, each granted for the treatment of sHLH broadly.¹

Electra is running its global Phase 2/3 registrational trial called SURPASS in newly diagnosed, treatment-naïve sHLH patients, alongside a natural history study called COMPASS, with enrollment in the registrational program expected to complete in the second half of 2027.¹

Its second candidate, ELA822, targets SIRPg on activated T cells; the company obtained regulatory clearance and initiated a Phase 1 trial in healthy volunteers in Europe in August 2026, with data expected in the first half of 2027.¹

Financially, Electra reported net losses of $24.8 million and $62.0 million for 2024 and 2025 respectively, with an accumulated deficit of $221.9 million as of June 30, 2026.¹ The company had $97.7 million in cash, cash equivalents and marketable securities as of June 30, 2026.¹