The company, which specializes in therapies for cancer and immune-mediated diseases, anticipates that these funds will sustain its operations and capital expenditures through 2029. At a midpoint price of $15 per share, Electra expects to reach a market valuation of approximately $905 million, with 60.4 million shares outstanding following the full exercise of the overallotment option.

Management has filed to list the company on the Nasdaq Global Select Market under the ticker symbol ETRA. This move provides the necessary liquidity to advance its research programs, marking a critical transition from a private clinical-stage entity to a publicly traded participant in the biotechnology sector.