Electra Therapeutics intends to raise up to $341.9 million via an initial public offering, with the capital earmarked for Phase III development of its lead asset, ipsoprubart, for hyperinflammatory syndrome indications. The company will offer 21,666,667 shares ranging from $14 to $16 each, positioning the listing on Nasdaq under the ticker “ETRA.”
Electra filed its S‑1/A registration statement on 15 September, detailing a financing scenario that could generate $296.6 million at the mid‑range price and up to $341.9 million if additional shares are exercised. The IPO caps a busy financing year for the firm, which secured $183 million in a Series C round led by Sanofi in October 2025.
The majority of the proceeds—approximately $220 million—will fund the ongoing Phase II/III trial of ipsoprubart in secondary haemophagocytic lymphohistiocytosis (sHLH), as well as related regulatory and commercial preparation work. A further $25 million will support a Phase I study evaluating ipsoprubart in T/NK cell malignancies, while around $50 million will advance the companion program for ELA822, a SIRPg‑specific antibody currently in Phase I/II development.
Ipsoprubart, a pan‑SIRP monoclonal antibody, is designed to selectively deplete pathological myeloid cells and T cells, offering a precision‑medicine approach to immune‑mediated disease. Early clinical data show a 100 % eight‑week overall survival and a 100 % overall response rate in 12 patients with malignancy‑associated HLH, the most severe subset of sHLH.
The IPO reflects renewed investor appetite for biotech listings; this year has already witnessed record‑sized offerings, including Kailera Therapeutics’ $625 million float in April and Parabilis Medicines’ $670 million offering two months later, underscoring a favorable market environment for emerging biopharma companies.
