Enliven Therapeutics prices $200 million public offering

BOULDER, Colo. - Enliven Therapeutics, Inc. (NASDAQ:ELVN), currently valued at $933 million, has priced its underwritten public offering of 8,394,737 shares of common stock at $19.66 per share, the clinical-stage biopharmaceutical company announced Today. According to InvestingPro data, the stock trades at $20.08, slightly above the offering price.

The offering also includes pre-funded warrants to purchase up to 1,780,263 shares at $19.659 per warrant for investors who prefer this option. These warrants have an exercise price of $0.001 per share.

Enliven expects to raise approximately $200 million in gross proceeds from the transaction before deducting underwriting discounts, commissions, and other offering expenses. The company has also granted underwriters a 30-day option to purchase up to an additional 1,526,250 shares at the public offering price.

The offering is expected to close on or about June 16, 2025, subject to customary closing conditions.

Jefferies, Goldman Sachs & Co. LLC, TD Cowen and Mizuho are serving as joint book-running managers for the offering, with LifeSci Capital acting as lead manager.

Enliven Therapeutics focuses on developing small molecule therapeutics for oncology. The Boulder-based company is pursuing a precision oncology approach through its discovery and development programs.

The information in this article is based on a press release statement from Enliven Therapeutics.

In other recent news, Enliven Therapeutics has announced a $200 million public offering of common stock shares and pre-funded warrants, with Jefferies, Goldman Sachs & Co. LLC, TD Cowen, and Mizuho acting as joint book-running managers. The company has also shared promising results from its Phase 1 ENABLE trial for ELVN-001 in chronic myeloid leukemia (CML) patients, reporting a 47% cumulative major molecular response rate by 24 weeks. This trial data was presented at the European Hematology Association Congress and shows favorable comparisons to historical data from approved tyrosine kinase inhibitors, despite testing in a more heavily pretreated population.

Additionally, analysts have updated their outlook on Enliven Therapeutics, with Mizuho Securities raising the stock target to $41 and maintaining an Outperform rating. BTIG has also increased its price target to $45, citing promising Phase I data and a strategic focus on ELVN-001, while H.C. Wainwright raised its target to $40, maintaining a Buy rating. Enliven’s first-quarter financial results for 2025 reported a net loss of $0.57 per share, aligning with analyst expectations, and the company ended the quarter with $289.6 million in cash and equivalents. These financial resources are projected to support operations through late 2027, covering significant potential data readouts.

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