Biotech company Electra Therapeutics (ETRA.US) sets IPO pricing at $14-16 per share, aiming to raise $325 millions.

According to Golden Ten Data, Electra Therapeutics, a Phase II/III biotechnology company focused on developing targeted SIRP antibodies for the treatment of immune diseases and cancer, announced the terms of its initial public offering (IPO) on Monday. The company plans to issue 21.7 million shares at a price of $14-16 per share to raise $325 million. Electra Therapeutics intends to list on Nasdaq under the ticker symbol "ETRA".

Electra Therapeutics is developing a class of precision medicines that target signal regulatory proteins (SIRP) expressed on specific immune cell populations. Its lead candidate, ipsoprubart, is a pan-SIRP monoclonal antibody designed to selectively eliminate pathological myeloid cells and T cells.

Currently, this drug is undergoing a registrational Phase II/III SURPASS trial for secondary hemophagocytic lymphohistiocytosis (sHLH); Phase Ib results show a 100% overall survival rate and a 100% overall response rate at 8 weeks among 12 frontline malignancy-associated HLH patients. Ipsoprubart is also being evaluated in a Phase I trial for relapsed/refractory T-cell and NK-cell malignancies. The company’s second candidate, ELA822, is a SIRPγ-specific antibody for the treatment of chronic T cell–mediated immune diseases, with a Phase I trial initiated in Europe in August 2026.

Electra Therapeutics aims to capitalize on this year’s robust performance of biotech IPOs to raise funds for its clinical-stage pipeline of drugs for immune-mediated diseases and cancer. Compilation data shows that this year, U.S. biotech and pharmaceutical IPOs have raised a total of $6.8 billion, with an average weighted return approaching 70%. Analysts Sam Fazeli and Cindy Wu said: “Biotech IPOs are a barometer of the industry’s health. The average amount raised by U.S. biotech IPOs in 2026 reached $329 million—the highest since 2018—far exceeding other strong years, indicating a bullish trend towards the end of the year, with the total number of IPOs likely to reach 30 for the full year.”