May 15, 2024

Enliven has cash runway into late 2026

BOULDER —  Enliven Therapeutics Inc. (Nasdaq: ELVN), a clinical-stage precision oncology company, has enough cash on hand to fund operations into late 2026, the company disclosed this week, and through multiple milestones for two of its drug candidates. 

Enliven, which focuses on the discovery and development of next-generation small molecule kinase inhibitors, shored up its cash position in March raising $90 million in private investment in public equity financing, known as PIPE funding.

In the first quarter of 2024, the company posted a $22.7 million net loss, compared to a net loss of $14.7 million during the same period last year. The increase came largely from additional research and development spending. 

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“The first quarter of 2024 was a pivotal quarter for Enliven. We released positive proof of concept data from our Phase 1 clinical trial of (drug candidate) ELVN-001, which was a significant milestone for the company,” Enliven CEO Sam Kintz said in a prepared statement. “We are thrilled by the initial ELVN-001 data, particularly the tolerability profile and evidence of activity in heavily pre-treated patients, including in patients with asciminib-resistant chronic myeloid leukemia.”

Enliven Therapeutics has enough cash on hand to fund operations into late 2026 and through multiple milestones for two of its drug candidate.

Lucas High
A Maryland native, Lucas has worked at news agencies from Wyoming to South Carolina before putting roots down in Colorado.
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