Electra Therapeutics Announces Pricing of Upsized $350.0 Million Initial Public Offering

SOUTH SAN FRANCISCO, Calif., Sept. 17, 2026 (GLOBE NEWSWIRE) -- Electra Therapeutics, Inc., a late clinical-stage biopharmaceutical company focused on pioneering a new class of precision medicines for the treatment of immune-mediated diseases and cancer, today announced the pricing of its upsized initial public offering of 23,333,334 shares of common stock at a price to the public of $15.00 per share. The gross proceeds to Electra from the offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by Electra, are expected to be approximately $350.0 million. In addition, Electra has granted the underwriters a 30-day option to purchase up to an additional 3,500,000 shares of common stock at the public offering price, less underwriting discounts and commissions. All of the shares of common stock are being offered by Electra.

The shares are expected to begin trading on The Nasdaq Global Select Market on September 18, 2026, under the ticker symbol “ETRA.” The offering is expected to close on September 21, 2026, subject to the satisfaction of customary closing conditions. Jefferies, TD Cowen, Evercore ISI and Cantor are acting as joint book-running managers for the offering.