On November 13, 2024, Clene Inc. released its third-quarter financial results for the period ending September 30, 2024. The announcement included a press release and an updated corporate presentation on the company's website. Clene reported a net loss of $8.0 million, or $1.22 per share, a decrease from the previous year's net loss of $2.4 million, or $0.38 per share. Research and development expenses decreased year-over-year to $4.5 million, primarily due to the completion of certain clinical trials. General and administrative expenses also saw a reduction to $3.4 million. The company's cash position stood at $14.6 million as of September 30, 2024, compared to $35.0 million at the end of 2023. Clene also highlighted its meeting with the FDA on November 1, 2024, to discuss an accelerated approval pathway for its...Show More

On November 13, 2024, Clene Inc. released its third-quarter financial results for the period ending September 30, 2024. The announcement included a press release and an updated corporate presentation on the company's website. Clene reported a net loss of $8.0 million, or $1.22 per share, a decrease from the previous year's net loss of $2.4 million, or $0.38 per share. Research and development expenses decreased year-over-year to $4.5 million, primarily due to the completion of certain clinical trials. General and administrative expenses also saw a reduction to $3.4 million. The company's cash position stood at $14.6 million as of September 30, 2024, compared to $35.0 million at the end of 2023. Clene also highlighted its meeting with the FDA on November 1, 2024, to discuss an accelerated approval pathway for its CNM-Au8 treatment for ALS, with meeting minutes still pending. Additionally, Clene completed a reverse stock split in July, amended its debt agreement with Avenue Capital, and raised $7.3 million in gross proceeds through a registered direct offering and concurrent private placements in October. The company expects its current funds to sustain operations into the first quarter of 2025.