Electra Therapeutics prices $350 million IPO, sets Nasdaq listing under ETRA
The late-stage biopharma sold 23,333,334 shares at $15.00 each ahead of a September 21, 2026 closing, funding its lead sHLH antibody through a Phase 2/3 registrational trial.
Electra Therapeutics, Inc. priced its initial public offering at $15.00 per share, offering 23,333,334 shares of common stock1. The stock has been approved for listing on the Nasdaq Global Select Market under the symbol "ETRA."1 Delivery of the shares is expected on or about September 21, 2026.1 The underwriters, Jefferies, TD Cowen, Evercore ISI, and Cantor1, also hold a 30-day option to buy up to an additional 3,500,000 shares1.
The company estimated net proceeds of approximately $319.9 million, or approximately $368.7 million if the underwriters exercise their option in full1. Electra said it plans to use the proceeds to advance ipsoprubart in sHLH through its ongoing Phase 2/3 global registrational trial toward topline results and to support BLA submission and commercial readiness activities, to advance ipsoprubart in T/NK cell malignancies through an ongoing Phase 1 trial, to advance ELA822 through an ongoing Phase 1 trial in healthy volunteers and a planned Phase 1/2 trial in patients with T cell-mediated immune disorders, and for other research, development and general corporate purposes.1
Electra's lead candidate, ipsoprubart, is a pan-SIRP monoclonal antibody currently in a global registrational program for patients with secondary hemophagocytic lymphohistiocytosis (sHLH)1. In its Phase 1b trial, ipsoprubart demonstrated a 100% 8-week overall survival rate and 100% overall response rate in 12 frontline patients with malignancy-associated HLH1. The company expects to complete enrollment in its registrational program in the second half of 20271.
Financially, Electra reported net losses of $24.8 million and $62.0 million for 2024 and 2025 respectively, and had an accumulated deficit of $221.9 million as of June 30, 20261. The company had $97.7 million in cash as of June 30, 2026, and believes offering proceeds plus existing cash will fund operations into 20291. Its auditor's report included a "going concern" explanatory paragraph1.
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