IPO Arc: the rise and fall after listingIPO Arc

ETRA

DistributionHealthcare

Electra Therapeutics, Inc. · NASDAQ Global Select · priced Sep 18, 2026 · $350M raised · Over $250M

Offer price
$15.00
Day 1
-11.7%
close vs offer
Peak
-7.2%
trading day 2
Now vs offer
-42.4%
$8.64 on Oct 29, 2026
Off peak
-39.9%
peak to subsequent low
Lock-up expiry
Mar 17, 2027
in 138d · from prospectus

Price since listing

  • Hype
  • Distribution
  • Lock-up window
  • Valley
  • Accumulation
  • Recovery

Volume bars are coloured by lifecycle phase. Markers: lock-up and early release (orange), earnings releases (E), follow-on offerings (F), research signals (rule id and signal; arrow up = buy signal, arrow down = sell or short signal, or sell signal for deals under $50M). Current phase: Distribution.

Performance since the IPO

  • ETRA
  • S&P 500 (SPY)
  • Typical IPO over $250m
  • Middle 50% of those IPOs

ETRA measured from its offer price; S&P 500 from the first trading day. The typical-IPO line is the median of 340 over $250m IPOs from 2014–2025, by trading day.

Company

Electra Therapeutics, Inc. is a clinical-stage biopharmaceutical company. The company develops therapies that targets signal regulatory proteins for the treatment of novel targets for treatment of immune-mediated diseases and cancer. Its lead product candidate is ipsoprubart, that targets signal regulatory protein on the cell surface of myeloid and T cells and depletes pathological immune cells, treatment for seconda…

Sector
Healthcare
Industry
Biotechnology
Country
United States
Employees
46
Market cap
$576M

From the prospectus

Lock-up
180 days
Early release on earnings
No
Price-based early release
No
Staggered release
No
Float sold in IPO
37%
Locked shares per share sold
1.7×
Backed by
Venture capital
Lead underwriters
Jefferies LLC, TD Securities (USA) LLC, Evercore Group L.L.C., Cantor Fitzgerald & Co.
Dual-class shares
No
Controlled company
No
Foreign private issuer
No

Extracted from the final prospectus on SEC EDGAR.

Returns vs offer, compared with 135 IPOs over $250m

HorizonETRAPeer medianPeers below offer
Day 1-11.7%+12.8%24% n=135
Day 20-41.7%+11.6%30% n=133
Day 60—+6.3%47% n=129
Day 120—-4.6%54% n=106
Day 180—-4.1%52% n=89

Research signals

No rule has triggered for this IPO.

Rules frozen as v1; signals dated from Oct 29, 2026 are live, earlier ones show what the frozen rules would have flagged. See methodology.

Past figures cover all 4,312 signals the published frozen v1 rules produce on 2014–2025 IPOs, close to close over each signal's holding period. Returns start at the close of the signal session; signals are published after that close, so the first price available to a reader is the next session's. Only 1,192 of 2,368 operating-company IPOs from those years have usable Yahoo Finance price data; most of the rest no longer trade under their IPO ticker (delisted, acquired or renamed), so the figures probably understate declines. These are hypothetical results, not trades: the rules were selected on these same years with the benefit of hindsight, so the figures likely overstate what live signals will do. The live track record is the real test. Trading costs and borrow fees are not included. Past results do not predict future results.

Research signals only, not investment advice. Lock-up terms come from prospectuses; prices from Yahoo Finance and may be delayed or wrong.