Electra Therapeutics (ETRA) upsized its IPO at pricing to 23.33 million shares – up from 21.67 million shares in the prospectus – and priced the IPO at $15.00 – the mid-point of its $14.00-to-$16.00 range – to raise $349.95 million on Thursday night, Sept. 17, 2026. Electra Therapeutics’ IPO rode the wave of strong demand from biotech and healthcare investors. Biotech IPOs have done well this year.
On Friday, Sept. 18, Electra Therapeutics’ stock is set to start trading on the NASDAQ.
At pricing, Electra Therapeutics had a market cap of $941.4 million.
Jefferies, TD Cowen, Evercore ISI and Cantor were the joint book-runners.
OrbiMed and Westlake Biopartners Fund I, L.P. are among the principal stockholders, according to the prospectus.
Electra Therapeutics, Inc. is pioneering a new class of precision medicines to treat immune-mediated diseases and cancer, the prospectus said. The company’s “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.”
The prospectus did not show any licensing or collaboration deals.
Electra Therapeutics intends to use $220 million – most of the IPO’s net proceeds – to fund its 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.”
The letters – sHLH – stand for secondary hemophagocytic lymphohistiocytosis (sHLH).
Electra Therapeutics is not profitable: Net loss of $85.53 million on no revenue for the 12 months that ended on June 30, 2026, 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.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.