Electra Therapeutics (ETRA proposed), a late-stage biotech focused on cancer and autoimmune disorders, set the terms early today for its IPO: 21.67 million shares at a price range of $14.00 to $16.00 to raise $325.05 million, if priced at the $15.00 mid-point of its range, according to its S-1/A filing dated Sept. 14, 2026. The San Francisco-based biotech would have a market cap of $916.5 million – assuming pricing at the $15.00 mid-point. This is a NASDAQ listing. Electra Therapeutics’ IPO is expected to price this week. (Please see the IPO Calendar for the pricing date.)
Jefferies, TD Cowen, Evercore ISI and Cantor are the joint book-runners.
Electra Therapeutics, Inc. is pioneering a new class of precision medicines to treat immune-mediated diseases and cancer, the prospectus said. The company said its “novel approach targets signal regulatory proteins (SIRP), a family of cell surface receptors whose expression is restricted to specific immune cell populations, and increases upon activation to enable selective depletion of disease-driving cells while preserving normal immune function.”
Electra Therapeutics intends to use the IPO’s proceeds to fund its ongoing global Phase 2/Phase 3 clinical trial of ipsoprubart, its leading drug candidate, to treat sHLH. The Cleveland Clinic said sHLH “occurs when you have an underlying medical condition that affects the function of your immune system.”
Electra Therapeutics is not profitable, according to the prospectus.
(For more information about this company, please check the IPO Calendar and the individual IPO Profile found on the IPOScoop.com website.)
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