Electra Therapeutics targets up to $342M IPO to fund phase 2/3 study of ipsoprubart for rare inflammatory syndrome
Electra Therapeutics, based in South San Francisco, filed with the SEC indicating plans to sell 21.7 million shares at $14‑$16 each.
The company expects net proceeds of about $296.6 million, potentially rising to $341.9 million if underwriters exercise their option for an extra 3.2 million shares.
Funds will be directed toward advancing its drug ipsoprubart through a combined phase 2/3 global trial targeting secondary hemophagocytic lymphohistiocytosis (sHLH), a rare, life‑threatening hyperinflammatory condition.
Electra entered the filing with $97.7 million cash on hand after a $183 million Series C round raised in October, positioning it to cover the estimated $220 million development cost for the study and subsequent regulatory filing.
This writeup was produced by pharmadog from original reporting by Fierce Biotech.
Original headline: “Electra aims for $342M IPO to power inflammatory drug’s push through phase 3”
read at Fierce Biotech ↗
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