Enliven Therapeutics Announces $90M Private Placement Financing; Provides Pipeline Updates
Portfolio Pulse from Benzinga Newsdesk
Enliven Therapeutics announced a $90M private placement financing, with participation from new and existing investors. The net proceeds are expected to extend the company's cash runway into late 2026, supporting key clinical milestones for ELVN-001 and ELVN-002. An event with KOLs is scheduled for April 11, 2024, to discuss Phase 1a trial data of ELVN-001 in adults with chronic myeloid leukemia.
March 19, 2024 | 12:36 pm
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Enliven Therapeutics' $90M financing is set to support the development of ELVN-001 and ELVN-002, with a cash runway extension into late 2026. An upcoming event will discuss ELVN-001's Phase 1a trial results in CML.
The $90M financing is a significant boost for Enliven Therapeutics, indicating strong investor confidence and providing substantial financial resources to advance its key projects, ELVN-001 and ELVN-002. The extension of the cash runway into late 2026 suggests a stable financial position for the company, reducing immediate financial risk and potentially attracting more investors. The upcoming event to discuss ELVN-001's trial results could further impact the stock positively if the data is favorable, highlighting the company's progress in developing treatments for chronic myeloid leukemia.
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