Enliven Therapeutics Inc. (NASDAQ: ELVN) announced the pricing of its upsized public offering of 8,933,334 shares of common stock at $37.50 per share. The clinical-stage biopharmaceutical company also offered pre-funded warrants to purchase up to 1,733,333 shares at $37.499 per warrant.

The offering is expected to generate gross proceeds of approximately $400 million before deducting underwriting discounts, commissions and other expenses. The transaction is scheduled to close on or about June 15, 2026, subject to customary closing conditions.

Enliven granted underwriters a 30-day option to purchase up to an additional 1.6 million shares at the public offering price, minus underwriting discounts and commissions. The pre-funded warrants are priced at the public offering price less the $0.001 per share exercise price.

Jefferies, Goldman Sachs & Co. LLC, Morgan Stanley and Barclays serve as joint book-running managers for the offering. Mizuho acts as a book-running manager and LifeSci Capital as a passive book-running manager. Baird serves as lead manager and Jones as manager.

The offering is conducted under a Registration Statement on Form S-3ASR that became effective upon filing with the Securities and Exchange Commission on August 13, 2025. Enliven filed a preliminary prospectus supplement with the SEC, with a final prospectus supplement to follow.

Enliven focuses on discovering and developing small molecule therapeutics for precision medicine applications. The company is based in Burlingame, California.