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Dec 31, 2025
Enliven Therapeutics Q4 2025 Earnings Report
Enliven Therapeutics reported increased fourth quarter 2025 operating expenses and a wider net loss year-over-year while maintaining a strong cash position.
Key Takeaways
For the fourth quarter of 2025, Enliven reported a net loss of 29667000 compared to 23180000 in the prior year period, driven by higher operating expenses of 34285000. The company ended the quarter with 462621000 in cash, cash equivalents and marketable securities.
Total operating expenses increased to 34285000 from 26896000 year-over-year.
Research and development expenses rose to 21245000 from 20724000.
General and administrative expenses increased to 13040000 from 6172000.
Net loss widened to 29667000 compared to 23180000 in Q4 2024.
Forward Guidance
The company expects its existing cash, cash equivalents and marketable securities to provide cash runway into the first half of 2029 and plans to initiate the Phase 3 ENABLE-2 trial in the second half of 2026.
Positive Outlook
- Cash runway expected into the first half of 2029.
- Positive initial Phase 1b data for ELVN-001.
- Planned initiation of Phase 3 ENABLE-2 trial in H2 2026.
- Upcoming regulatory interactions with the FDA.
- Multiple data readouts anticipated throughout 2026.
Challenges Ahead
- Quarterly net loss of 29667000.
- Increasing operating expenses year-over-year.
- Higher G&A expenses driven by stock-based compensation.
- Ongoing clinical development risk.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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