Electra Therapeutics Prices $350 Million Biotech IPO

Electra Therapeutics raised approximately $350 million in an upsized initial public offering, selling 23,333,334 shares at $15 each, with trading scheduled to begin on Nasdaq under the ticker ETRA. The company also granted underwriters a 30-day option to purchase up to 3.5 million additional shares. Electra plans to use the proceeds to advance ipsoprubart, its lead antibody candidate in a registrational study for secondary hemophagocytic lymphohistiocytosis, a rare and potentially fatal immune disorder with no broadly approved treatments, as well as other programs targeting immune-mediated diseases and cancer. The offering highlights continued investor demand for late-stage biotechnology companies, with Electra becoming the 21st biotech to complete an IPO in 2026 and the 11th to raise at least $300 million.