Clene Inc. (Clene) reported a net loss of $11.08 million for the first quarter ended March 31, 2024, a slight improvement from the $11.77 million loss in the same period last year. The basic and diluted net loss per share for common stockholders was $0.09, compared to $0.15 in the previous year. Revenue from related parties, including product and royalty revenue, totaled $72,000, a decrease from $106,000 year-on-year. Operating expenses saw a 14% reduction, with research and development expenses decreasing by 21% to $5.869 million. General and administrative expenses remained relatively stable at $3.420 million. Clene's business development included an amended agreement with 4Life, granting exclusive rights to purchase and sell certain Clene products, with a minimum sales commitment extending through 2033. The company also entered a subaward under the NIH...Show More

Clene Inc. (Clene) reported a net loss of $11.08 million for the first quarter ended March 31, 2024, a slight improvement from the $11.77 million loss in the same period last year. The basic and diluted net loss per share for common stockholders was $0.09, compared to $0.15 in the previous year. Revenue from related parties, including product and royalty revenue, totaled $72,000, a decrease from $106,000 year-on-year. Operating expenses saw a 14% reduction, with research and development expenses decreasing by 21% to $5.869 million. General and administrative expenses remained relatively stable at $3.420 million. Clene's business development included an amended agreement with 4Life, granting exclusive rights to purchase and sell certain Clene products, with a minimum sales commitment extending through 2033. The company also entered a subaward under the NIH Grant to support an Expanded Access Program for CNM-Au8 treatment of ALS, with potential subawards totaling up to $30.9 million. Clene's future plans involve initiating an international Phase 3 trial for CNM-Au8 in ALS and continuing clinical trials for multiple sclerosis. The company's financial overview highlighted the need for additional capital to sustain operations, with a focus on equity financing, debt financing, and licensing or collaboration arrangements.