Electra Therapeutics priced an upsized initial public offering raising $350 million to fund late-stage development of ipsoprubart, a pan-SIRP monoclonal antibody in secondary hemophagocytic lymphohistiocytosis (sHLH). The proceeds are intended to support progression of a Phase 2/3 registrational program toward a BLA filing. The IPO involved 23.33 million shares priced at $15, with an option for underwriters to buy additional shares at the same price, as referenced in the brief. The financing underscores continued investor appetite for immunology-heavy development platforms despite a volatile public market environment. As investors look for catalysts tied to registrational timelines, Electra’s capital raise highlights the cash needs of late-stage immunotherapy development and the expectation of clear regulatory endpoints for sHLH.