ORBIMED ADVISORS LLC 4

What Happened

• OrbiMed Advisors LLC (reported as a 10% owner via affiliated funds) sold a total of 860,123 Enliven Therapeutics (ELVN) shares on June 22, 2026. The disposals consisted of 787,024 shares @ $45.38 ($35,715,149), 46,776 shares @ $45.00 ($2,104,920), 24,846 shares @ $45.38 ($1,127,511), and 1,477 shares @ $45.00 ($66,465), for aggregate proceeds of about $39,014,045. These were reported on a Form 4 filed June 24, 2026. These were sales (S) — disposals, not purchases.

Key Details

• Transaction date: June 22, 2026; Form 4 filed June 24, 2026 (appears timely).
• Prices and amounts:
  • 787,024 shares @ $45.38 — $35,715,149
  • 46,776 shares @ $45.00 — $2,104,920
  • 24,846 shares @ $45.38 — $1,127,511
  • 1,477 shares @ $45.00 — $66,465
  • Total shares sold: 860,123; Total proceeds: ~$39.0M
• Shares owned after transaction: not specified in the provided filing excerpt.
• Notable footnotes: sales were reported by OrbiMed Advisors through affiliated vehicles (OrbiMed Genesis Master Fund, L.P. and OrbiMed Private Investments VII, LP). OrbiMed Advisors is the managing member and may be deemed to have voting/investment power; reporting persons disclaim direct beneficial ownership except to the extent of any pecuniary interest.
• Filing timeliness: transaction reported two days after the trades; filing date indicates timely reporting under Section 16 deadlines.

Context

• This is institutional selling by a reported 10% owner (investment adviser/fund structure), not an individual executive or director. Such disposals can reflect portfolio rebalancing or liquidity needs and do not necessarily signal management sentiment about the company. As factual record: these were outright sales (code S) of existing shares, not option exercises, gifts, or awards.