Electra Therapeutics files for Nasdaq IPO to fund Phase 2/3 immunology program

Electra Therapeutics has filed for an initial public offering with the U.S. Securities and Exchange Commission and plans to list on Nasdaq’s Global Select Market under the proposed ticker ETRA.

The San Francisco-based biotech intends to use the proceeds to advance its immune-disease and cancer pipeline, led by ipsoprubart.

Ipsoprubart is being tested in a global Phase 2/3 registrational trial for newly diagnosed secondary hemophagocytic lymphohistiocytosis (sHLH), a severe hyperinflammatory disorder with high mortality and no broadly approved therapies.

The company expects to complete enrollment in the sHLH study in the second half of 2027. Ipsoprubart also has FDA Breakthrough Therapy and Fast Track designations, as well as EMA PRIME designation.

IPO proceeds are also expected to support oncology development of ipsoprubart and early clinical work on ELA822, an antibody designed to selectively remove activated T cells.

Electra has not yet disclosed the number of shares, price range, or expected deal size. Jefferies, TD Cowen, Evercore ISI, and Cantor are listed as underwriters.