Enliven, Novartis drugs poised to lead in CML markets, says Clear Street

After Novartis (NVS) announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency has adopted a positive opinion and recommended granting marketing authorization for Scemblix for the treatment of adult patients with Philadelphia chromosome-positive chronic myeloid leukemia, Clear Street said “clean agents” like Novartis’ asciminib and Enliven’s (ELVN) ELVN-001 are “poised to set new standards and command leadership” in the U.S. and EU markets given a persistent unmet need despite the presence of numerous first- and second-generation therapies, including generics. The firm reiterates a Buy rating and $36 price target on Enliven shares as ELVN-001 approaches its mid-2026 Phase 3 launch in second- or third-line and later CML.