Business
Enliven Therapeutics Reports Second Quarter 2023 Financial Results and Highlights Recent Company Progress
Continued progress of parallel lead programs, ELVN-001 and ELVN-002, through dose escalation in Phase 1 trials, with initial proof of concept data for both
About this update from Enliven Therapeutics, Inc.
[{"type":"text","content":"Continued progress of parallel lead programs, ELVN-001 and ELVN-002, through dose escalation in Phase 1 trials, with initial proof of concept data for both programs expected in 2024 Strong balance sheet, closing the quarter with $278 million in cash, cash equivalents and marketable securities BOULDER, Colo., Aug. 10, 2023 (GLOBE NEWSWIRE) -- Enliven Therapeutics, Inc. (Enliven) (Nasdaq: ELVN), a clinical-stage precision oncology company focused on the discovery and development of next-generation small molecule kinase inhibitors, today reported financial results for the second quarter ended June 30, 2023 and provided a business update. “We are pleased with the continued progress this quarter across our parallel lead programs,” said Sam Kintz, MBA, Enliven’s Co-founder, President and Chief Executive Officer. “The Phase 1 trials of ELVN-001 and ELVN-002 are advancing through dose escalation, and we look forward to reporting initial proof of concept data for both programs in 2024. Our team is focused on executing these clinical trials and enthusiastic to show their potential to help patients with CML and HER2-driven cancers.” Recent Business Highlights and Upcoming Milestones Research and Development Highlights ELVN-001 and ELVN-002: Patient enrollment and dose escalation continue to progress in the Phase 1 clinical trial evaluating ELVN-001 in adults with chronic myeloid leukemia (CML) (NCT05304377) and the Phase 1 clinical trial evaluating ELVN-002 in patients with solid tumors with HER2 alterations (NCT05650879). Initial safety and efficacy data from the Phase 1a trials are expected to be reported in 2024.Pipeline: Selected a product candidate for the Company’s third program, with more information to be disclosed in 2024. Enliven continues to actively pursue multiple additional early-stage discovery programs. Second Quarter 2023 Financial Results Cash Position: As of June 30, 2023, the Company had cash, cash equivalents and marketable securities totaling $277.9 million.Research and development (R&D) expenses: R&D expenses were $15.2 million for the second quarter of 2023, compared to $7.9 million for the second quarter of 2022. General and administrative (G&A) expenses: G&A expenses for the second quarter of 2023 were $5.0 million, compared to $1.1 million for the second quarter of 2022. Net Loss: Enliven reported a net loss of $...