Enliven Therapeutics Q4 2023 Earnings Report
Key Takeaways
Enliven Therapeutics reported a net loss of $19.4 million for the fourth quarter of 2023, with R&D expenses at $17.9 million and G&A expenses at $4.8 million. The company closed the year with $253.1 million in cash, cash equivalents, and marketable securities, expected to provide cash runway into early 2026. Initial proof of concept data from Phase 1a trial evaluating ELVN-001 in adults with chronic myeloid leukemia (CML) is expected in the second quarter of 2024.
Phase 1 trial of ELVN-001 is on track, with initial proof of concept data expected in Q2 2024.
FDA accepted IND application for ELVN-002 to evaluate combination therapy in HER2+ cancers, with first patient dosing expected by mid-2024.
R&D expenses were $17.9 million for Q4 2023, compared to $8.2 million for Q4 2022.
Cash, cash equivalents, and marketable securities totaled $253.1 million as of December 31, 2023.
Enliven Therapeutics
Enliven Therapeutics
Forward Guidance
Enliven Therapeutics is focused on advancing its clinical pipeline, with key milestones expected in 2024 for both ELVN-001 and ELVN-002, and has sufficient cash runway into early 2026.
Positive Outlook
- ELVN-001 Phase 1 trial is on track.
- Initial proof of concept data for ELVN-001 expected in Q2 2024.
- FDA acceptance of ELVN-002 IND application.
- First patient dosing for ELVN-002 combination trial expected by mid-2024.
- Cash runway into early 2026.
Challenges Ahead
- Significant net losses incurred since inception.
- Limited operating history.
- Risk of failing to demonstrate safety and efficacy of product candidates.
- Potential delays or difficulties in the enrollment or maintenance of patients in clinical trials.
- Reliance on third parties.