Biopharma financing remained strong as public-market activity pushed ahead into September. Electra Therapeutics priced and launched an upsized $350 million IPO to advance ipsoprubart, a pan-SIRP monoclonal antibody, toward a potential BLA filing in secondary hemophagocytic lymphohistiocytosis. At the same time, the broader financing backdrop stayed elevated: through August 2026, biopharma financings reached $77.13 billion, with IPOs contributing a record run rate. The combined data points point to investor willingness to fund late-stage assets alongside continued appetite for platform and clinical-stage bets. For companies assessing timing, the releases suggest markets are still rewarding programs with clear regulatory paths and near-term pivotal readouts.