Immunology drug development company Electra (ETRA.US) has an IPO price of 15 US dollars to raise 350 million dollars and go to the NASDAQ tonight

The Zhitong Finance App learned that the clinical-stage immunology drug development company Electra Therapeutics Inc. (ETRA.US) raised US$350 million through an expanded US initial public offering (IPO), and the issue price was set at the midpoint of the promotion range.

The OrbiMed-backed company sold 23.3 million shares at a price of $15 each, according to a statement on Thursday. Documents submitted to the US Securities and Exchange Commission show that Electra previously planned to issue 21.67 million shares at a price of 14 to 16 US dollars each.

According to reports, this release was oversubscribed several times. Based on the IPO price, the San Francisco-based company has a market capitalization of approximately US$941.5 million, based on the number of shares outstanding in the file.

Electra's primary drug candidate is intended to treat secondary hemophagocytic lymphohistiocytosis, a serious immune system overreaction. According to its documentation, the company is conducting global mid-term clinical trials of the drug in newly diagnosed patients. The treatment has received breakthrough therapy certification from the US Food and Drug Administration and priority drug certification from the European Medicines Agency.

This listing coincides with the hot IPO market for pharmaceutical companies. According to compiled data, the listing of biotech and pharmaceutical companies has raised 6.8 billion US dollars this year, compared to 1.3 billion US dollars in the same period in 2025.

The company's investors include OrbiMed, Westlake BioPartners, and associated entities under Redmile Group. According to documents, Electra completed Series C financing of approximately US$182.7 million in October, led by divisions of French pharmaceutical company SNY.US (SNY.US), OrbiMed, and RedMile; as of June 30 this year, the company held 97.7 million US dollars in cash and cash equivalents.

Documents show that for the six months ended June 30, the company had a net loss of 58.6 million US dollars, compared with a net loss of 25.4 million US dollars for the same period last year.

The IPO was led by Jefferies Financial Group Inc., Toronto Dominion Bank, Evercore Inc., and Cantor Fitzgerald. Its shares are expected to begin trading on the NASDAQ Global Select Market on Friday under the ticker symbol “ETRA.”