Electra Therapeutics announced plans to raise up to $341.9 million through an initial public offering to finance clinical development of its inflammatory disorder drug ipsoprubart and its push through Phase 3. The funding would support late-stage execution, regulatory planning, and trial operations. The size of the offering signals investor appetite for late-stage, non-cardiometabolic inflammatory targets, even as biotech capital markets remain selective. Near-term execution will focus on validating efficacy and safety in the expanded patient populations required for Phase 3.