Monitor the first few trading days for price stabilization and any early analyst coverage initiation. The registrational program for ipsoprubart in sHLH is the primary value driver — watch for enrollment updates, interim data, or regulatory milestones that could move the stock significantly.
Price Chart
Executive Summary
Electra Therapeutics priced its upsized IPO of 23,333,334 shares at $15.00 per share, raising approximately $350.0 million in gross proceeds. The offering provides significant near-term cash runway for a late-stage biotech with a lead candidate in a registrational program for sHLH, an area with no approved therapies. The stock begins trading on Nasdaq tomorrow under 'ETRA'.
Key Financial Metrics
Key Facts
- IPO priced at $15.00 per share for 23,333,334 shares, upsized from initial terms
- Gross proceeds of approximately $350.0 million before expenses
- Underwriters have a 30-day option to purchase up to 3,500,000 additional shares
- Shares expected to begin trading on Nasdaq Global Select Market on September 18, 2026
- Lead candidate ipsoprubart (ELA026) in a global registrational program for sHLH, a severe hyperinflammatory syndrome with no approved therapies
- Second candidate ELA822 is a SIRPγ-specific antibody in clinical development for chronic T-cell mediated diseases
- Jefferies, TD Cowen, Evercore ISI and Cantor are joint book-running managers
Financial Impact
Approximately $350.0 million in gross IPO proceeds, providing substantial cash runway for a late-stage biotech
Risk Factors
- sHLH registrational program may fail to meet endpoints, wiping out most of the company's value
- Dilution from the IPO and potential full exercise of the greenshoe option (3.5M additional shares)
- No approved products yet — pre-revenue biotech with binary clinical risk
- Competition from other therapies targeting hyperinflammatory syndromes
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3364440 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 28, 2026 28d ago | SC 13G | $11.35 $11.25 | ▼ −0.88% | ▼ −0.68% | $8.37 (−26.26%) |
Sep 28, 2026 28d ago | SC 13G | $11.35 $11.25 | ▼ −0.88% | ▼ −0.68% | $8.37 (−26.26%) |
Sep 25, 2026 4w ago | SC 13D | $11.32 $11.35 | ▲ +0.27% | ▲ +0.45% | $8.37 (−26.06%) |
Sep 23, 2026 4w ago | Insider Cluster | $11.82 $11.55 | ▼ −2.28% | ▼ −2.83% | $8.37 (−29.19%) |
Sep 21, 2026 5w ago | 3 | $13.62 $12.67 | ▼ −6.97% | ▼ −6.25% | $8.37 (−38.55%) |
Sep 18, 2026 5w ago | 424B4 | $13.92 $13.62 | ▼ −2.16% | ▼ −2.14% | $8.37 (−39.87%) |
Sep 18, 2026 5w ago | 3 | $13.92 $13.62 | ▼ −2.16% | ▼ −2.14% | $8.37 (−39.87%) |
Sep 18, 2026 5w ago | 3 | $13.92 $13.62 | ▼ −2.16% | ▼ −2.14% | $8.37 (−39.87%) |
Sep 18, 2026 5w ago | 3 | $13.92 $13.62 | ▼ −2.16% | ▼ −2.14% | $8.37 (−39.87%) |
Sep 18, 2026 5w ago | EFFECT | $13.25 $13.92 | ▲ +5.06% | ▲ +3.51% | $8.37 (−36.83%) |
US Market Status
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