Enliven Therapeutics expenses grow as R&D ramps up
BOULDER — Enliven Therapeutics Inc. (Nasdaq: ELVN), a Boulder-based, pre-revenue oncology drug developer, roughly doubled its year-over-year net losses in the third quarter as advances in its drug-development pipeline have resulted in increased research and development costs.
The company, which says it is “focused on the discovery and development of next-generation small molecule kinase inhibitors,” reported a net loss of $20.8 million for the third quarter of 2023, compared to a net loss of $10.6 million for the same period last year.
R&D expenses grew from $7.8 million in the third quarter of 2022 to $19.6 million in the most recent quarter.
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“We made significant progress this past quarter,” Enliven CEO Sam Kintz said in a prepared statement. “Both of our parallel lead programs are advancing in their respective Phase 1 trials, and there continues to be strong patient demand for both trials. Our team is laser-focused on continuing to execute, and we look forward to sharing initial data for these programs next year.”
As of Sept. 30, the Enliven had cash, cash equivalents and marketable securities totaling $263.5 million.
