Enliven soars after boosted equity raise for leukemia drug

Jefferies Financial

12/06/2026 16:16

Updates stock activity
** Enliven Therapeutics' ELVN.O shares reverse premarket losses and soar on Fri after upsized $400 mln follow-on priced
** ELVN stock up 12.1% at $45.23 after hitting a six-week high
** Biopharma firm late Thurs sold ~8.9 mln shares and pre-funded warrants to buy ~1.7 mln shares at $37.50
** Offering size increased from $250 mln
** Stock finished up ~9% at $40.36 on Thurs after co's leukemia drug, ELVN-001, showed encouraging early-stage results
** Co intends to use net proceeds from offering to advance ELVN-001 in ongoing and planned clinical trials, among other purposes, per the prospectus
** Jefferies, Goldman Sachs, Morgan Stanley and Barclays joint bookrunners, along with Mizuho
** Burlingame, California-based Enliven has 60.9 mln shares outstanding
** With the move, stock has nearly tripled YTD
** All 12 analysts rate the stock "strong buy" or "buy"; median PT $59.50, according to LSEG data
     

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))