Enliven Therapeutics, Inc. (ELVN) shares climbed 8.92 percent, gaining $3.60 to $43.96 on Friday, despite the company pricing an upsized public offering expected to raise approximately $400 million in gross proceeds.
The stock is currently trading at $43.96, compared with its previous close of $40.36 on the Nasdaq. During the session, shares opened at $39.76 and traded between $39.00 and $44.73. Trading volume reached 2.49 million shares, more than double its average daily volume of 1.20 million shares.
The clinical-stage biopharmaceutical company priced 8.93 million shares of common stock at $37.50 per share, along with pre-funded warrants, in a financing that is expected to strengthen its balance sheet and support the continued development of its oncology pipeline.
Enliven shares have traded between $14.78 and $48.53 over the past 52 weeks.
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