HC Wainwright initiated coverage on Enliven Therapeutics, Inc. ELVN and noted the company as an emerging biotech company developing next-gen precision-oriented small molecules for solid and liquid tumor indications . Enliven’s pipeline includes: ELVN-001— a tyrosine kinase inhibitor (TKI) targeting mutant BCR::ABL.
HC Wainwright highlights that ELVN-001 could meaningfully improve on existing TKI drugs used in chronic myelogenous leukemia, with applicability across multiple lines of therapy. In April, the company released proof of concept data from the Phase 1 trial of ELVN-001 in patients with chronic myeloid leukemia (CML) who are relapsed, refractory, or intolerant to available TKIs . ELVN-001 achieved a cumulative major molecular response (MMR) rate of 44% (7/16) by 12 weeks and demonstrated responses in patients with prior exposure to asciminib and who were TKI-resistant.
ELVN-002 is being evaluated in combination with trastuzumab plus chemotherapy or as monotherapy in HER2-driven malignancies within non-small cell lung, colorectal, and metastatic breast cancer, among others. The analyst initiates with a Buy rating and a price target of $37 . CML is a chronic disease requiring multiple years of continuous treatment.
Patients frequently switch therapies due to liabilities of the existing approved drugs, including poor tolerability due to off-target effects and inability to dose to maximal efficacy. Six approved drugs— Novartis AG’s NVS Gleevec (imatinib), Scemblix .