Electra Therapeutics raises $350 million in one of biotech's biggest IPOs of the year
As seen on the 24/7 Wall St. homepage on September 18, 2026.
Electra Therapeutics prices $350 million IPO at $15 a share
Electra Therapeutics priced at $15 a share, pulling in roughly $350 million, one of the larger biotech raises of the year. Jefferies, TD Cowen, Evercore ISI and Cantor led the deal, and trading opens with the full 23.3 million shares in public hands.
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Electra Therapeutics raised $350 million in its IPO, ranking among the largest biotech public offerings this year. The deal was led by a heavyweight syndicate: Jefferies, TD Cowen, Evercore ISI, and Cantor.
The full 23.3 million shares entered public hands on the open, meaning there is no phased lockup release to dilute early trading momentum. That immediate float gives the market a clean, unobstructed price signal from the first session.
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Pricing the full raise at $15 signals institutional demand strong enough to absorb a large offering without trimming size or cutting price, common outcomes when a deal struggles on the roadshow. The backing of four major underwriters also indicates broad Wall Street appetite for the name.
Investors now watch whether the stock holds, builds on, or retreats from the $15 offering price once the broader market gets its turn to weigh in. For a biotech of this size, early trading volume and the direction of any first-day move tend to set the tone for how the stock trades in the weeks that follow.
Mentioned: ETRA