Electra Therapeutics files for Nasdaq IPO to fund phase 2/3 immunology and cancer programs

Electra Therapeutics, based in South San Francisco, announced it has filed a registration statement to list its shares on the Nasdaq Global Select Market under the ticker ETRA.

The company says the IPO proceeds will be used to move several immunology and oncology assets through later-stage clinical development, including its lead monoclonal antibody ipsoprubart.

Ipsoprubart, previously known as ELA026, is being evaluated in a global phase 2/3 trial for secondary hemophagocytic lymphohistiocytosis, a rare hyperinflammatory syndrome that can arise from cancer, infection, autoimmune disease or immunotherapy.

The filing follows a $183 million Series C round raised in October, and the additional capital is intended to support a potential biologics license application and commercial preparation for the drug.