Enliven raises $90M through sale of stock, warrants

BOULDER —  Enliven Therapeutics Inc. (Nasdaq: ELVN), a clinical-stage precision oncology company, has entered into a securities-purchase agreement that will provide gross proceeds of $90 million.

The private investment in public equity financing, known as PIPE funding, is expected to close on March 21. Enliven has agreed to sell more than 5.3 million shares of common stock at a price of $14 per share, a premium of 11% on the stock’s closing price on March 18.

The company also will sell pre-funded warrants to purchase almost 1.1 million shares of its common stock at a price of $13.999 per warrant.

The financing includes participation from new and existing investors, including Commodore Capital, Fairmount, Venrock Healthcare Capital Partners, a biotech investor, a large mutual fund, Rock Springs Capital, Logos Capital, Woodline Partners LP and Acuta Capital Partners. 

“We appreciate the support from our existing and new high-quality investors and their confidence in our clinical programs,” Sam Kintz, Enliven’s co-founder and CEO, said in a written statement. “The additional funding further strengthens our balance sheet and enables us to achieve critical, longer-term clinical milestones as we advance our parallel lead programs …”

Enliven focuses on the discovery and development of next-generation small molecule kinase inhibitors.

Enliven intends to use net proceeds to fund research and development of its clinical-stage product candidates, other research programs, working capital and general corporate purposes, according to information provided by the company.

Proceeds from this financing, combined with current cash, cash equivalents and marketable securities, are expected to fund operations into late 2026.

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