Enliven Therapeutics, Inc. (ELVN) shares jumped 50.86%, trading at $23.33, up $7.86, after the company reported positive initial Phase 1b data from its ENABLE clinical trial of ELVN-001 in patients with chronic myeloid leukemia or CML.
The sharp rally followed news that the Phase 1b trial showed encouraging major molecular response rates, including a cumulative response of about 69% in patients treated across dose cohorts and a deep molecular response observed in a significant portion of patients, alongside a favourable safety and tolerability profile.
On the day of the announcement, ELVN opened near $15.00, reached an intraday high above $23.50, and saw a low around $14.80, compared with a previous close near $15.47. The stock trades on the Nasdaq.
Trading volume was well above the stock's average daily volume, reflecting strong investor response to the clinical update.
Enliven's 52-week range is approximately $9.72 - $55.85, underscoring volatility tied to clinical developments and biotech catalysts.
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