--- title: "Electra Therapeutics prices IPO of 23,333,334 shares at $15.00" url: "https://aibio.space/news/electra-therapeutics-prices-ipo-23-333-334-shares-15-00-about-350/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-09-18" section: "Financings" tickers: "NASDAQ:ETRA" source: "https://www.sec.gov/Archives/edgar/data/2088082/000119312526395670/d61940d424b4.htm" summary: "Electra Therapeutics sold 23,333,334 shares at $15.00 in its initial public offering. The final prospectus repeats the auditor's going concern paragraph fr" --- By the aibio.space news desk. Sources - [Electra Therapeutics, Inc. 424B4 (2026-09-18)](https://www.sec.gov/Archives/edgar/data/2088082/000119312526395670/d61940d424b4.htm) - [Electra Therapeutics, Inc. 8-K (2026-09-21)](https://www.sec.gov/Archives/edgar/data/2088082/000119312526396646/d185250d8k.htm) [ETRA](https://aibio.space/companies/electra-therapeutics/) 2026-09-18 # Electra Therapeutics prices IPO of 23,333,334 shares at $15.00, about $350 million Tickers [ETRA](https://aibio.space/companies/electra-therapeutics/) Electra Therapeutics sold 23,333,334 shares at $15.00 in its initial public offering. The final prospectus repeats the auditor's going concern paragraph from the registration statement. ## Key facts - **Company**: Electra Therapeutics, Inc. (NASDAQ: ETRA) - **News type**: Financings - **Primary source**: [Electra Therapeutics, Inc. 424B4 (2026-09-18)](https://www.sec.gov/Archives/edgar/data/2088082/000119312526395670/d61940d424b4.htm) *An empty boardroom with a long table. CC0, via rawpixel. The picture shows the field, not the companies named.* Electra Therapeutics, Inc. filed its [final prospectus](https://www.sec.gov/Archives/edgar/data/2088082/000119312526395670/d61940d424b4.htm) on September 18, 2026 for an initial public offering of 23,333,334 shares of common stock at $15.00 per share. The prospectus is dated September 17, 2026. The total offering price is $350,000,010, and underwriting discounts and commissions are $1.05 per share, or $24,500,001 in total. Proceeds to the company before expenses are $13.95 per share, or $325,500,009. The underwriters have a 30-day option to buy up to 3,500,000 more shares. If they exercise it in full, underwriting discounts would total $28,175,001 and proceeds before expenses would total $374,325,009. The prospectus estimates net proceeds of about $319.9 million, or about $368.7 million with the option. ## Underwriters and counsel Jefferies, TD Cowen, Evercore ISI and Cantor are named as underwriters on the back cover. The prospectus gives those names in short form only, without full entity names, and it does not say which of them is lead or sole book-runner. It names no placement agent. The final prospectus names no legal counsel for the company or for the underwriters, although the registration statement filed in August listed two firms under "Copies to." ## Shares after the offering The prospectus says 62,766,955 shares of common stock will be outstanding immediately after the offering, or 66,266,955 if the underwriters exercise their option in full. That count assumes conversion of all outstanding redeemable convertible preferred stock at closing, and the share counts reflect a one-for-1.5002 reverse stock split effected on September 10, 2026. The prospectus says 39,433,621 shares were outstanding as of June 30, 2026, after giving effect to that conversion into 39,404,292 shares of common stock. ## The lead drug and its data Electra calls itself a late clinical-stage biopharmaceutical company focused on signal regulatory protein (SIRP) targeting. Its lead candidate, ipsoprubart, is described as a pan-SIRP monoclonal antibody designed to deplete disease-driving myeloid cells and T cells. The FDA has granted it Breakthrough Therapy designation for secondary hemophagocytic lymphohistiocytosis, or sHLH, and the European Medicines Agency has granted PRIME designation for the same use. The company's central data come from a Phase 1b trial in 12 frontline patients with malignancy-associated HLH. The prospectus reports a 100% 8-week overall survival rate and a 100% overall response rate, with 10 partial responses and two modified complete responses. The filing says the drug was generally well tolerated. It does not describe that trial as randomized or controlled, and 12 patients is a small group. The prospectus also cites eight evaluable patients with T or B cell lymphomas, drawn from the Phase 1b trial and an expanded access program, with a 100% objective tumor response rate. The pivotal study is SURPASS, a global Phase 2/3 registrational trial in newly diagnosed, treatment-naive sHLH patients. Enrollment in that program is expected to finish in the second half of 2027, so the topline results the proceeds are meant to support are not yet available. ## Losses and going-concern doubt For the six months ended June 30, 2026, the company reported a net loss of $48.9 million, and it used $38.9 million of cash in operating activities. The comparable 2025 period showed a net loss of $25.4 million and cash used in operations of $24.7 million. The accumulated deficit was $221.9 million at June 30, 2026. The prospectus says the auditor's report includes a going concern explanatory paragraph. Management concluded that its cash, cash equivalents and marketable securities as of June 30, 2026 may not be enough to fund projected operating expenses and capital expenditures for the next 12 months, and that substantial doubt exists about its ability to continue as a going concern. The company estimates that its cash, cash equivalents and marketable securities as of the prospectus date, together with the net proceeds, will fund projected operating expenses and capital expenditures into 2029. It also expects its expenses and operating losses to increase substantially. The estimated net proceeds of about $319.9 million compare with an accumulated deficit of $221.9 million and six-month operating cash use of $38.9 million. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story ETRA Electra Therapeutics, Inc. NASDAQ ยท United States Open the starter desk ## More in Financings Financings ### [INmune Bio raises $4.50 million in registered direct offering with warrants](https://aibio.space/news/inmune-bio-raises-4-50-million-registered-direct-offering-warrants/) Oct 29, 2026 Financings ### [Lexeo Therapeutics files $300 million shelf registration](https://aibio.space/news/lexeo-therapeutics-files-300-million-shelf-registration/) Oct 29, 2026 Financings ### [ProKidney files $650 million shelf with $200 million Jefferies sales program](https://aibio.space/news/prokidney-files-650-million-shelf-200-million-jefferies-sales-program/) Oct 29, 2026 --- Source page: https://aibio.space/news/electra-therapeutics-prices-ipo-23-333-334-shares-15-00-about-350/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Electra Therapeutics prices IPO of 23,333,334 shares at $15.00", 2026-09-18, https://aibio.space/news/electra-therapeutics-prices-ipo-23-333-334-shares-15-00-about-350/