Sanofi-backed Electra Therapeutics targets $297 million IPO as Enhertu shows Phase 3 lung cancer success

Electra Therapeutics, a biotech company supported by Sanofi, announced plans to raise roughly $297 million through an initial public offering. The firm hopes to launch the offering shortly after Labor Day, positioning itself among the latest wave of post‑holiday IPOs.

Separately, the cancer drug Enhertu reported positive results in a Phase 3 trial for lung cancer, marking a notable clinical milestone for the therapy.

The briefing also referenced additional updates involving Lilly, Cellectis, Tyra, Shennon and QL Biopharm, though no further details were provided.