Electra Therapeutics (Ticker: ETRA US) is a U.S. biotechnology company developing new medicines for immune-related diseases and cancer. Its treatments are designed to target and remove specific immune cells that contribute to disease, rather than broadly suppressing the immune system.

The company plans to list on Nasdaq on September 18, 2026. Electra priced its IPO at $15.00 per share and increased the offering to approximately 23.33 million shares, raising about $350 million. The IPO gives the company an estimated market capitalization of approximately $941 million.

Electra’s main drug candidate, ipsoprubart, is being tested in a late-stage Phase 2/3 clinical trial for secondary hemophagocytic lymphohistiocytosis (sHLH), a rare and potentially life-threatening condition involving excessive immune-system activation. The company is also developing ELA822 for immune and inflammatory diseases involving T cells.

Jefferies, TD Cowen, Evercore ISI and Cantor are managing the IPO.