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

Electra Therapeutics, a Phase II/III biotech company focused on developing targeted SIRP antibodies for immune diseases and cancer treatment, announced the terms of its initial public offering (IPO) on Monday. The company plans to offer 21.7 million shares at $14-16 per share to raise $325 million. It intends to list on the Nasdaq under the ticker symbol "ETRA." Electra Therapeutics is developing a class of precision drugs 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, the drug is being evaluated in the registrational Phase II/III SURPASS trial for secondary hemophagocytic lymphohistiocytosis (sHLH); Phase Ib data showed a 100% 8-week overall survival rate and a 100% overall response rate in 12 first-line malignancy-associated HLH patients. Ipsoprubart is also being tested in a Phase I trial for relapsed/refractory T-cell and NK-cell malignancies. The company's second candidate, ELA822, is a specific antibody targeting SIRP for the treatment of chronic T-cell-mediated immune diseases, and a Phase I trial was initiated in Europe in August 2026. Electra Therapeutics aims to ride the strong performance of biotech IPOs this year to raise funds for its clinical-stage pipeline of immune-mediated disease and cancer drugs. Compiled data shows that U.S. biotech and pharmaceutical company IPOs have raised a cumulative $6.8 billion this year, with an average weighted return of nearly 70%. Analysts Sam Fazeli and Cindy Wu said: "Biotech IPOs are a barometer of the industry's health. The average IPO size for U.S. biotech in 2026 reached $329 million, the highest level since 2018, far exceeding the standout years in recent memory, signaling a strong year-end market with the full-year listing count expected to reach 30."