Electra Therapeutics priced an upsized $350 million IPO after earlier demand, positioning the inflammation-focused biotech to advance ipsoprubart, a pan-SIRP monoclonal antibody for secondary hemophagocytic lymphohistiocytosis (sHLH), toward a BLA filing. The offering was structured as 23.33 million shares sold at $15 each, with an option for additional shares. The financing arrives as Electra prepares for late-stage registrational development. The company’s strategy is to translate prior clinical signals into a regulatory dossier for a condition that requires rapid, reliable immunomodulatory control. Electra’s deal also contributes to a strong IPO window for biotech, with multiple companies raising large amounts in 2026 and financing totals reaching record levels earlier in the year. The stock reaction appears mixed in early trading versus the perceived strength of the issue, reflecting how investors differentiate between financing size and probability of near-term regulatory milestones. For public-market players, the Electra IPO is a live test of appetite for late-stage immune and inflammatory assets, particularly those aiming to expand beyond breakthrough-case outcomes into repeatable commercial programs.