Enliven Therapeutics Inc Dossier - Source-backed chat

Enliven Therapeutics Inc

ELVNNASDAQ

SectorHealth Care

IndustryBiotechnology

Beta (adjusted)0.53

Intrinsic Value

Insufficient data for a value estimateNot enough reliable inputs to publish a fair value for this company yet.

Market Price $46.21Price as of 1 Oct 2026

Data confidenceNot applicable

Market Cap $3.4B

Enterprise Value $3.3B

Shares Outstanding 70.1M diluted

Next Earnings Date5 Nov 2026

All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference.

Thesis

Street consensus, scenarios, merits, risks, and invalidation triggers

AI-assisted

Thesis Summary

Enliven Therapeutics is a highly promising clinical-stage precision oncology company with a robust balance sheet and a potentially best-in-class asset in Chronic Myeloid Leukemia (CML). The company's lead candidate, ELVN-001, has demonstrated exceptional clinical efficacy and a highly differentiated safety profile in heavily pretreated patients, including those who failed prior asciminib therapy. Backed by a massive cash runway extending into 2029, Enliven is well-positioned to transition into a pivotal Phase 3 trial in the second half of 2026 without near-term dilutive financing pressures.

This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today.

Street view · analyst 12-month targets9 analysts · as of 18 Aug 2026

Low · most bearish analyst$62.00

Mean target$72.22

High · most bullish analyst$82.00

Our research · scenarios, merits, risks, and invalidation triggersResearch as of 18 Sep 2026

Scenarios · 12-month scenario targetsAnchored at research date

Bear CaseDownside scenario

$62.00

The Phase 3 ENABLE-2 trial faces clinical enrollment delays or unexpected safety signals emerge as the patient database expands, limiting the drug's commercial potential. Furthermore, competitive pressures from established players like Novartis (Scemblix) intensify, reducing the projected market share for ELVN-001 in the post-asciminib setting.

Base CaseCentral scenario

$72.22

Matches the consensus mean

Enliven successfully initiates the Phase 3 ENABLE-2 trial for ELVN-001 in H2 2026 as planned. Efficacy and safety remain consistent with the positive Phase 1b data presented at EHA 2026, showing strong molecular responses in heavily pretreated CML patients. The company's cash runway of $452.4 million supports operations through early clinical readouts of the Phase 3 trial, maintaining strong institutional backing and steady upward valuation.

Bull CaseUpside scenario

$82.00

ELVN-001 achieves rapid enrollment in the Phase 3 ENABLE-2 trial and demonstrates superior efficacy and safety compared to standard-of-care TKIs. The drug's clean safety profile and lack of food restrictions drive high patient adherence, positioning it to capture significant market share across both late-line and early-line CML settings. Additionally, Enliven successfully out-licenses ELVN-002 on highly favorable terms, bringing in non-dilutive capital and further extending its cash runway.

Scenarios are anchored to street consensus at the research date, with our probabilities and rationale.

Key Investment Merits

Differentiated clinical profile for ELVN-001, showing a 48% MMR rate by 24 weeks in heavily pretreated patients and a highly favorable safety profile with low Grade 3+ toxicities.
Exceptional financial strength with $452.4 million in cash and marketable securities as of Q1 2026, providing a runway into the first half of 2029.
Strong regulatory alignment with the FDA on the recommended Phase 3 dose (80 mg QD) and target patient population, de-risking the upcoming ENABLE-2 trial.

Key Investment Risks

Clinical development risk inherent to late-stage oncology trials, including potential delays in patient recruitment or unexpected toxicities.
Commercial competition from established pharmaceutical giants with deep commercial infrastructure in the CML space.
Single-asset concentration risk as the company prioritizes ELVN-001 and seeks strategic alternatives for ELVN-002.

Thesis Invalidation Triggers

Failure to initiate the Phase 3 ENABLE-2 trial by the end of 2026.
Emergence of severe, off-target toxicities in expanded clinical cohorts that compromise the safety advantage of ELVN-001.
A significant downward revision of the cash runway due to unexpected operational burn rate acceleration.

All scenarios are estimates and subject to change. Past performance is not indicative of future results.

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Explore this dossier

ValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework.