Immunology drug development company Electra (ETRA.US) prices IPO at $15, raising $350 millions, to be listed on Nasdaq tonight
Clinical-stage immunology drug development company Electra Therapeutics Inc. raised $350 million in an upsized U.S. initial public offering (IPO), with the offering price set at the midpoint of the marketed range.
According to Jinshi Finance APP, clinical-stage immunology drug development company Electra Therapeutics Inc. (ETRA.US) raised $350 million in an expanded US initial public offering (IPO), with the issue price set at the midpoint of the indicated range.
According to a statement released Thursday, the OrbiMed-backed company sold 23.3 million shares at $15 each. Documents filed with the US Securities and Exchange Commission show that Electra had previously planned to issue 21.67 million shares at a price of $14 to $16 per share.
It is reported that the offering was several times oversubscribed. Based on the IPO issue price and the number of outstanding shares in the filings, the San Francisco-based company is valued at about $941.5 million.
Electra’s primary drug candidate is intended to treat secondary hemophagocytic lymphohistiocytosis, a severe immune system overreaction. According to its filings, the company is conducting a global mid-stage clinical trial of the drug in newly diagnosed patients. The therapy has received breakthrough therapy designation from the US Food and Drug Administration and PRIME status from the European Medicines Agency.
The listing comes as pharmaceutical IPOs are booming. According to compiled data, biotech and pharmaceutical listings this year have raised $6.8 billion, compared to $1.3 billion during the same period in 2025.
The company’s investors include OrbiMed, Westlake BioPartners, and affiliates of Redmile Group. According to the filings, Electra completed a series C financing round of about $182.7 million in October, led by a division of French pharmaceutical company Sanofi (SNY.US), OrbiMed, and Redmile. As of June 30 this year, the company held $97.7 million in cash and cash equivalents.
The documents show that for the six months ended June 30, the company had a net loss of $58.6 million, compared with a net loss of $25.4 million during the same period last year.
This IPO is led by Jefferies Financial Group Inc., Toronto-Dominion Bank, Evercore Inc., and Cantor Fitzgerald. The shares are expected to begin trading on the Nasdaq Global Select Market on Friday under the ticker “ETRA”.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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