Electra Therapeutics, Inc.

Electra Therapeutics has exceeded its initial fundraising plans as it becomes the 26th biotech to debut publicly this year and outlines pivotal development plans for its monoclonal antibody ipsoprubart. Electra Therapeutics is charging toward the public markets, raising an upsized $350 million initial public offering to help push its lead asset through pivotal testing and to potential market approval. The IPO encompasses 23.3 million shares sold at $15 per share, with underwriters given 30 days to purchase up to an additional 3.5 million shares of common stock, according to a Thursday evening release. The offering is up from the California biotech’s expectations laid out earlier this week, when it projected selling 21.6 million shares of its stock at $15 per share for a total of up to $341.9 million. Electra’s lead asset is ipsoprubart, a monoclonal antibody targeting signal regulatory proteins on immune cells. The drug is designed to precisely target and remove abnormal immune cells while avoiding healthy ones. The candidate is currently being evaluated in an open-label, Phase 2/3 pivotal trial for a life-threatening hyperinflammatory syndrome known as secondary hemophagocytic lymphohistiocytosis (sHLH). The Phase 1b portion of the study demonstrated an 100% objective tumor response rate among eight patients with lymphoma-associated sHLH, with a complete response rate of 88%. The biotech has earmarked the funds to help support an approval application with the FDA for ipsoprubart and ramp up potential commercial activities. Electra also plans to bankroll continued clinical testing of the asset in T cell and natural killer cell malignancies. Biotech IPOs surge in H1 of 2026, shattering records and doubling last year’s total After a sluggish 2025, biotech IPOs have roared back to life. Fueled by resilient stock performances and improving market sentiment, the total number of public debuts so far this year has already eclipsed 2025’s total. Electra is also advancing ELA822, a monoclonal antibody being studied in a Phase 1 trial of healthy volunteers. Electra believes the candidate holds potential across chronic T cell–mediated immune and inflammatory diseases. The biotech is led by industry veteran Kathy Dong, who previously held senior leadership roles at Star Therapeutics and Vega Therapeutics after a long stint at Gilead Sciences. Electra’s public debut follows a $183 series C financing raised last October. That round was led by Nextech and EQT Life Sciences and included participation from new investor Sanofi. Electra is one of the numerous biotechs flooding to the public markets this year after a sluggish 2025. Fueled by resilient stock performances and improving market sentiment, Electra is the 26th biotech to go public this year. The content above comes from the network. if any infringement, please contact us to modify.

Just days after Electra Therapeutics priced a $350-million IPO, ADARx Pharmaceuticals signalled on Monday that it's chasing a $350-million debut of its own. The biotech, which is developing siRNA-based precision medicines for a range of indications, including complement-mediated, thrombotic and cardiometabolic diseases, proposed to sell 21.9 million shares between $15 and $17 apiece. At the midpoint, it would raise $350 million and command a fully diluted market value of $1.8 billion following its IPO. Meanwhile, two other biotechs joined ADARx in the IPO queue on Friday: TRex Bio and Retension Pharmaceuticals. The former, backed by Eli Lilly, Johnson & Johnson and Pfizer, is developing treatments for autoimmune and inflammatory diseases based on tissue Treg biology, while the latter is focused on hypertension and cardiovascular diseases (see – Spotlight On: Investors regain appetite for biotech IPOs).AbbVie adding extra fundsAlongside its NASDAQ debut, ADARx is also expecting to rake in additional funds in a concurrent private placement from its partner, AbbVie. The US pharma is expecting to purchase $5 million shares which, at the midpoint price, would see the biotech raise an additional $80.1 million.AbbVie linked up with ADARx last year to combine its expertise in antibody engineering with the latter's RNA technology platform, which offers advantages in both silencing and delivery. According to the company, its mRNA silencing technology allows for fine-tuned sequence design and optimisation, while on the delivery front, its system uses engineered ligands to guide RNA therapeutics directly to specific cell types via receptor-mediated internalisation. ADARx pocketed $335 million upfront under the deal, which encompasses the development of siRNA therapies for neuroscience, immunology and oncology, and is eligible for potentially "several billion dollars" in milestones.Pipeline breakdownBetween the IPO proceeds and the private placement, ADARx is looking to advance a number of clinical and early-stage programmes. Its most advanced asset is onvuzosiran, which targets prekallikrein (PKK) to prevent hereditary angioedema (HAE) attacks, an indication for which it received an FDA fast-track designation. The company is enrolling adults with type I or II HAE in the Phase III STOP-HAE trial, with topline data expected by the end of 2027 and a potential marketing submission in 2028.Though onvuzosiran is closest to the regulatory finish line, ADARx's priority is a different candidate with pipeline-in-a-product potential, according to a Monday securities filing. The biotech plans to first spend any fresh capital on the development of agazisiran, a complement factor B programme in a trio of Phase II trials spanning renal diseases like IgA nephropathy (IgAN), complement 3 glomerulopathy (C3G) and immune complex-mediated membranoproliferative glomerulonephritis (IC-MPGN); paroxysmal nocturnal haemoglobinuria (PNH); and geographic atrophy secondary to age-related macular degeneration. Initial data from patients with IgAN, C3G and PNH are due in mid- to late 2027, which will inform ADARx's Phase III plans.The company is also aiming to move its Factor XI–targeting programme, ADX-626, into a Phase II trial for secondary stroke prevention next year. The asset is currently in a Phase I safety study in healthy volunteers. Pharmacodynamic data from the Phase II study are expected by the end of 2027, while an exploratory trial for stroke prevention in atrial fibrillation is also being planned.The final two programmes ADARx is hoping to advance with its IPO fundraise are both preclinical siRNAs expected to enter the clinic in late 2027 or early 2028. ADX-077 is an adipose-targeted obesity asset designed to reduce body weight and fat while preserving lean mass, and ADX-199 is designed to selectively silence and degrade amyloid-ß precursor protein mRNA in neurons to treat Alzheimer's disease.

Rare disease drugmaker Electra Therapeutics on Thursday banked $350 million in an initial public offering, becoming the 21st biotechnology company to price a new stock issuance in 2026. Electra plans to use the proceeds to continue developing an experimental drug for secondary hemophagocytic lymphohistiocytosis or “HLH,” a rare, sometimes life-threatening immune disorder with no approved treatments. That drug, called ipsoprubart, is in a registrational trial. Electra expects to complete enrollment in the second half of 2027. With Electra’s haul, 11 biotechs have raised more than $300 million in their IPOs in 2026, matching 2021’s total and surpassing what was seen in the previous four years combined, according to BioPharma Dive data In the first biotech IPO after Labor Day, Electra proved there’s still a large appetite in the public markets for clinical-stage drugmakers. Every one of the 21 biotech companies that have gone public this year had a drug in human testing. And all eleven firms that have banked $300 million or more had, like Electra, a drug in at least Phase 2 development. Electra is working on antibodies aimed at “signal regulatory proteins,” or SIRPs. These proteins are only found on the surface of certain immune cells, so targeting them with a drug could tackle certain immunological conditions without broadly suppressing the body’s defenses. With ipsoprubart, Electra is testing whether depleting myeloid and T cells expressing these proteins will have this kind of pinpoint effect. “[W]e believe our approach can do for immune-mediated diseases what precision oncology has done for cancer, transforming the treatment paradigm for patients,” the company wrote in a filing with the Securities and Exchange Commission. In patients with secondary HLH, overactive white blood cells overproduce cytokines, leading to inflammation that damages organs like the liver, skin and brain. Secondary HLH is managed with a mix of steroids, chemotherapy and anti-cytokine medicines. Some patients also receive a drug approved for the primary, inherited form of the disease if earlier treatment fails. Alongside the ongoing Phase 2/3 study in secondary HLH, ipsoprubart is also involved in an early-stage study in patients with certain blood cancers. Another Electra prospect, a monoclonal antibody called ELA822, recently entered Phase 1 testing and is being developed for other T-cell related inflammatory conditions. Last year, Electra, a former subsidiary of the biotech company creator Star Therapeutics, secured $183 million in venture funding from backers including Nextech Invest and EQT Life Sciences. Another company from Star, Vega Therapeutics, was acquired by Incyte in June in a deal worth as much as $2 billion. Electra will begin trading Friday morning on Nasdaq under the ticker symbol “ETRA.” The content above comes from the network. if any infringement, please contact us to modify.