Clinical-stage biotechnology firm Electra Therapeutics, which is advancing targeted SIRP antibody therapies for immune disorders and oncology, unveiled the terms for its initial public offering on Monday. The company is offering 21.7 million shares at a projected price of $14 to $16 apiece, aiming to secure approximately $325 million in gross proceeds.
Electra Therapeutics intends to list its shares on the Nasdaq under the ticker symbol "ETRA." The company is developing a pipeline of precision medicines designed to home in on signal regulatory proteins (SIRPs) expressed across distinct immune cell subsets.
Its lead asset, ipsoprubart, is a pan-SIRP monoclonal antibody engineered to selectively eliminate pathogenic myeloid cells and T cells. The candidate is currently being evaluated in the registrational Phase II/III SURPASS trial for secondary hemophagocytic lymphohistiocytosis (sHLH). Data from the Phase Ib cohort showed a 100% overall response rate and a 100% eight-week survival rate among 12 patients with first-line malignancy-associated HLH.
In parallel, ipsoprubart is under investigation in a Phase I study for relapsed or refractory T-cell and NK-cell malignancies. The company's second candidate, ELA822, is a proprietary antibody targeting SIRPγ for chronic T-cell-mediated immune conditions, with a Phase I trial already initiated in Europe in August 2026.
Electra Therapeutics is capitalizing on a robust year for biotech listings to fund its mid-stage programs across immune-mediated diseases and cancer. Industry data compiled so far this year shows U.S. biotech and pharmaceutical IPOs have collectively raised $6.8 billion, with a weighted average return of nearly 70%.
Analysts Sam Fazeli and Cindy Wu commented that biotech IPOs serve as a key barometer for sector health. The average 2026 U.S. biotech offering has raised $329 million, marking the highest level since 2018 and surpassing several recent standout years, signaling strong momentum into year-end with the potential for roughly 30 total listings over the course of the year.