Enliven grosses $230M from stock sale

BOULDER — Enliven Therapeutics Inc. (Nasdaq: ELVN), a clinical-stage precision oncology company, reports to have taken in roughly $230 million in gross proceeds from its recent public stock offering.

This week’s sale of nearly 10 million shares of its common stock came as a clinical trial for one of Elinven’s drug candidates is yielding positive results. ELVN-001 is being tested in patients with chronic myeloid leukemia.

“We are highly encouraged by the ELVN-001 data, specifically as it relates to the consistency of the cumulative and achieved MMR (mismatch repair) rates as the Phase 1 trial progresses, with more evaluable patients and longer duration of treatment,” Enliven chief medical officer Helen Collins said last week in a prepared statement. “While MMR is the efficacy endpoint in CML, safety and tolerability are equally critical given the chronic nature of the disease. ELVN-001 was reported to be well tolerated across all evaluated doses and had low levels of dose reductions and discontinuations, which we believe is the key sign of a favorable safety and tolerability profile. We believe ELVN-001 has the potential to offer best-in-class efficacy and tolerability, which are key attributes for people living with CML. We look forward to sharing additional data in the future.”

Jefferies, Goldman Sachs & Co. LLC, TD Cowen and Mizuho acted as joint book-running managers for the stock offering, and LifeSci Capital was lead manager.

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