Enliven Therapeutics Announces Closing of Public Offering of Common Stock and Pre-Funded Warrants and Full Exercise of the Underwriters' Option to Purchase Additional Shares

Enliven Therapeutics (Nasdaq: ELVN) has successfully closed its public offering, raising approximately $230 million in gross proceeds.

Rhea-AI Summary

Enliven Therapeutics (Nasdaq: ELVN) has successfully closed its public offering, raising approximately $230 million in gross proceeds. The offering included 9,920,987 shares of common stock at $19.66 per share, including the full exercise of the underwriters' option for 1,526,250 additional shares. Additionally, the company issued pre-funded warrants to purchase 1,780,263 shares at $19.659 per warrant. The offering was managed by Jefferies, Goldman Sachs & Co. LLC, TD Cowen, and Mizuho as joint book-running managers, with LifeSci Capital acting as lead manager. The securities were offered through a Registration Statement on Form S-3 and related filings with the SEC.

Positive

• Successful capital raise of approximately $230 million in gross proceeds
• Full exercise of underwriters' option indicates strong demand
• Strengthened balance sheet to support clinical-stage development programs

Negative

• Potential dilution for existing shareholders
• Additional shares and warrants in circulation may pressure stock price

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BOULDER, Colo., June 16, 2025 /PRNewswire/ -- Enliven Therapeutics, Inc. (Enliven or the Company) (Nasdaq: ELVN), a clinical-stage biopharmaceutical company focused on the discovery and development of small molecule therapeutics, today announced that it has closed its underwritten public offering of 9,920,987 shares of its common stock, which includes the full exercise of the underwriters' option to purchase 1,526,250 additional shares of its common stock, at a price to the public of $19.66 per share and, in lieu of common stock to certain investors, pre-funded warrants to purchase 1,780,263 shares of its common stock at a price to the public of $19.659 per pre-funded warrant, which represents the per share public offering price of each share of Enliven's common stock less the $0.001 per share exercise price for each pre-funded warrant. All of the shares and pre-funded warrants were sold by Enliven. The gross proceeds from the offering were approximately $230 million before deducting underwriting discounts and commissions and other offering expenses.

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

The offering was made pursuant to a Registration Statement on Form S-3, including a base prospectus, previously filed with and declared effective by the SEC and a related registration statement that was filed with the SEC on June 13, 2025 pursuant to Rule 462(b) under the Securities Act of 1933, as amended (and became automatically effective upon filing), and Enliven has filed with the SEC a final prospectus supplement and accompanying prospectus relating to the offering. These documents can be accessed for free through the SEC's website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, or by telephone at (877) 821-7388 or by email at Prospectus Department@Jefferies.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by email at Prospectus-ny@ny.email.gs.com; TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, NY 10017, by telephone at (833) 297-2926 or by email at TD.ECM_Prospectus@tdsecurities.com; or Mizuho Securities USA LLC, Attention: Equity Capital Markets, 1271 Avenue of the Americas, 3^rd Floor, New York, NY 10020, by telephone at (212) 205-7600 or by email at US-ECM@mizuhogroup.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of any such state or jurisdiction.

About Enliven Therapeutics
Enliven is a clinical-stage biopharmaceutical company focused on the discovery and development of small molecule therapeutics to help people not only live longer, but live better. Enliven aims to address existing and emerging unmet needs with a precision oncology approach that improves survival and enhances overall well-being. Enliven's discovery process combines deep insights in clinically validated biological targets and differentiated chemistry to design potentially first-in-class or best-in-class therapies. Enliven is based in Boulder, Colorado. 

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SOURCE Enliven Therapeutics, Inc.

FAQ

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How much did Enliven Therapeutics (ELVN) raise in its June 2025 public offering?

Enliven Therapeutics raised approximately $230 million in gross proceeds before deducting underwriting discounts and commissions and other offering expenses.

What was the price per share for ELVN's public offering?

The public offering price was $19.66 per share of common stock and $19.659 per pre-funded warrant.

How many shares were offered in Enliven Therapeutics' public offering?

The offering included 9,920,987 shares of common stock and pre-funded warrants to purchase 1,780,263 shares.

Who were the underwriters for Enliven Therapeutics' public offering?

The joint book-running managers were Jefferies, Goldman Sachs & Co. LLC, TD Cowen, and Mizuho, with LifeSci Capital acting as lead manager.

Was the underwriters' option exercised in ELVN's offering?

Yes, the underwriters' option was fully exercised, adding 1,526,250 additional shares to the offering.