Electra Therapeutics, Inc., a South San Francisco-based late clinical-stage biopharmaceutical company focused on precision medicines for immune-mediated diseases and cancer, announced on September 17, 2026, that it has priced its upsized initial public offering. The company will offer 23,333,334 shares of common stock at a public offering price of $15.00 per share. Electra expects gross proceeds of approximately $350.0 million before deducting underwriting discounts, commissions, and estimated offering expenses.
Offering Terms and Underwriter Option
Electra has priced its upsized initial public offering at $15.00 per share, with 23,333,334 shares of common stock being sold by the company. The underwriters have also been granted a 30-day option to purchase up to 3,500,000 additional shares at the public offering price, less underwriting discounts and commissions. All shares in the transaction are being offered by Electra, resulting in expected gross proceeds of approximately $350.0 million before fees and estimated expenses.
Nasdaq Listing and Expected Closing
The shares are expected to begin trading on The Nasdaq Global Select Market on September 18, 2026, under the ticker symbol ETRA, offering public market investors an opportunity to participate in the company's clinical-stage programs. The offering is expected to close on September 21, 2026, subject to the satisfaction of customary closing conditions. Jefferies, TD Cowen, Evercore ISI, and Cantor are acting as joint book-running managers for the offering.
About Electra Therapeutics
Electra Therapeutics is a late clinical-stage biopharmaceutical company that is pioneering a new class of precision medicines for the treatment of immune-mediated diseases and cancer. The company's approach targets signal regulatory proteins (SIRP), a family of cell surface receptors whose expression is restricted to specific immune cell populations and increases upon activation. This mechanism is designed to enable selective depletion of disease-driving cells while preserving normal immune function, a potential advantage over broader immunosuppressive approaches.
Lead Product Candidate and sHLH Program
The company's lead product candidate, ipsoprubart (ELA026), is a novel pan-SIRP monoclonal antibody currently in a global registrational program for secondary hemophagocytic lymphohistiocytosis, or sHLH. This severe hyperinflammatory syndrome has no broadly approved therapies, and survival has remained consistently poor over the past two decades, underscoring the need for new options. Ipsoprubart is also being evaluated in a Phase 1 clinical trial in patients with relapsed or refractory T-cell and natural-killer cell malignancies.
Additional Pipeline Candidate
Electra's second clinical-stage product candidate, ELA822, is a novel SIRP gamma-specific antibody being developed for a broad range of chronic T cell-mediated immune and inflammatory diseases. This candidate allows the company to extend its precision immunology approach beyond the acute hyperinflammatory and hematologic conditions that are the focus of ipsoprubart. The broader pipeline highlights Electra's commitment to targeting disease-driving immune cells across multiple therapeutic areas with significant unmet medical need.
The upsized initial public offering is expected to strengthen Electra's balance sheet as it advances its late-stage clinical programs. With approximately $350.0 million in gross proceeds, the company gains resources to support the registrational development of ipsoprubart and the continued progression of ELA822. The Nasdaq listing under the ticker symbol ETRA marks a significant milestone for Electra's efforts to bring new precision medicines to patients with severe immune-mediated diseases and cancer.