Electra Therapeutics seeks a $977.6 million valuation as it joins a rebounding biotech IPO market, with plans to list on the Nasdaq under the ticker ETRA to fund clinical trials for immunological disease treatments.
Electra Therapeutics is targeting a $977.6 million valuation in its US IPO, listing on Nasdaq under symbol ETRA.
Biotech firm Electra Therapeutics aims to raise $346.7 million in a U.S. initial public offering, pricing 21.67 million shares between $14 and $16. The South San Francisco-based developer plans to use the proceeds to advance its lead clinical-stage candidate, ipsoprubart, and support its secondary drug pipeline.
The company develops therapies targeting signal regulatory proteins to treat immunological diseases and cancer, with a lead candidate currently in global trials for secondary hemophagocytic lymphohistiocytosis.