Clene Inc.
- Open
- 4.23
- Day high
- 4.29
- Day low
- 4.11
- Prev close
- 4.23
- Volume
- 40K
- Mkt cap
- $54M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- -2.2
- P/S
- 275.6
- Yield
- —
- Per share
- —
Clene Inc. (CLNN) is a Healthcare company listed on NASDAQ. The stock is down 34% over the past year.
Clene Inc. (CLNN) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CLNN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 14, 2026 | $-0.37 | $-1.08 | -193.5% | $90000 | +47.5% |
| May 14, 2026 | $-0.50 | $-0.31 | +38.0% | $15000 | -70.4% |
| Mar 12, 2026 | $-0.58 | $-0.88 | -52.4% | $77000 | +196.2% |
| Nov 13, 2025 | $-0.60 | $-0.85 | -41.7% | $15000 | -76.7% |
| Aug 14, 2025 | $-0.49 | $-0.78 | -59.2% | $27000 | -51.0% |
| Mar 24, 2025 | $-1.21 | $-1.67 | -38.0% | $91000 | -30.0% |
| Mar 13, 2024 | $-1.40 | $-1.20 | +14.3% | $170000 | +21.4% |
| Aug 14, 2023 | $-2.60 | $-2.40 | +7.7% | $269000 | +124.2% |
| May 12, 2023 | $-3.20 | $-3.00 | +6.3% | $107000 | -17.7% |
| Mar 13, 2023 | $-3.00 | $-3.20 | -6.7% | $234000 | +112.7% |
| Aug 15, 2022 | $-4.20 | $-4.40 | -4.8% | $35000 | -58.0% |
| Mar 11, 2022 | $-3.60 | $-3.80 | -5.6% | $199000 | +71.2% |
CLNN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 14, 2026 | Desai Arjun JJdirector | Grant | 3,674 | $4.19 |
| Aug 14, 2026 | Jacobovitz Shalomdirector | Grant | 4,752 | $4.19 |
| Aug 14, 2026 | Gay Jonathondirector | Grant | 3,794 | $4.19 |
| Aug 14, 2026 | Kiernan Matthewdirector | Grant | 3,195 | $4.19 |
| Aug 14, 2026 | WILCOX REED Ndirector | Grant | 3,514 | $4.19 |
| Aug 14, 2026 | MATLIN DAVID Jdirector | Grant | 6,230 | $4.19 |
| Aug 14, 2026 | Mosca Alisondirector | Grant | 4,872 | $4.19 |
| Aug 14, 2026 | McLaughlin Valleriedirector | Grant | 3,514 | $4.19 |
| Jun 15, 2026 | Etherington Robert Deedirector, officer: President & CEO | Grant | 65,000 | $5.53 |
| Jun 15, 2026 | Mortenson Markofficer: Chief Science Officer | Grant | 45,000 | $5.53 |
| Jun 15, 2026 | BROWN MORGAN Rofficer: Chief Financial Officer | Grant | 15,000 | $5.53 |
| May 22, 2026 | MATLIN DAVID Jdirector | Grant | 1,500 | $6.81 |
| May 22, 2026 | Jacobovitz Shalomdirector | Grant | 1,500 | $6.81 |
| May 22, 2026 | Jacobovitz Shalomdirector | Grant | 2,791 | $6.81 |
| May 22, 2026 | Mosca Alisondirector | Grant | 1,500 | $6.81 |
Source: CLNN SEC Form 4 filings, latest Aug 14, 2026. For informational purposes only — not investment advice.
See the full CLNN insider & 13F page →Clene Inc. company profile
Overview
Clene Inc. (NASDAQ:CLNN) is a clinical-stage pharmaceutical company founded in 2013 and headquartered in Salt Lake City, Utah. The company went public in October 2018 and focuses on developing novel nanotechnology-based therapeutics for treating neurodegenerative diseases. Clene specializes in clean-surfaced nanotechnology (CSN) therapeutics, with its lead drug candidate CNM-Au8 currently in multiple clinical trials for conditions including amyotrophic lateral sclerosis (ALS), multiple sclerosis, and Parkinson's disease. The company operates in the biotechnology sector within the broader healthcare industry.
Business
Clene operates in the biotechnology industry, specifically focusing on developing nanotechnology-based therapeutics for neurodegenerative diseases. The company's core technology platform is called clean-surfaced nanotechnology (CSN), which involves creating ultra-small metallic nanoparticles that can cross the blood-brain barrier and potentially restore cellular energy metabolism in damaged neurons. The company's primary business segments include: 1. **Prescription Drug Development (Primary Focus)**: Clene's lead drug candidate is CNM-Au8, an oral suspension of gold nanoparticles designed to treat neurodegenerative diseases. The drug works by enhancing cellular energy production in neurons, potentially slowing disease progression. CNM-Au8 is currently being studied in a Phase 2/3 registrational trial for ALS patients, Phase 2 trials for multiple sclerosis, and planned trials for Parkinson's disease. This represents the company's primary focus and future revenue potential. 2. **Infectious Disease and Wound Care**: The company develops CNM-AgZn17, a gel containing silver and zinc ions for treating infections and accelerating wound healing, and CNM-ZnAg, a broad-spectrum antiviral and antibacterial agent that was developed partly in response to COVID-19. 3. **Oncology Applications**: CNM-PtAu7 is a gold-platinum nanoparticle therapeutic being developed for cancer treatment applications. 4. **Dietary Supplements (Current Revenue Source)**: The company currently markets rMetx, a zinc-silver ion dietary supplement, and KHC46, a gold nanoparticle dietary supplement. These products generate the company's current minimal revenue of approximately $300,000-400,000 annually, representing less than 1% of the company's total expenses. The biotechnology industry involves discovering, developing, and commercializing new medical treatments, typically requiring 10-15 years and hundreds of millions of dollars to bring a drug from laboratory to market through clinical trials and regulatory approval.
Revenue model
Clene currently operates as a pre-revenue biotechnology company with minimal income from dietary supplement sales. The company's current revenue of approximately $300,000-400,000 annually comes entirely from direct-to-consumer sales of its dietary supplements rMetx and KHC46 through online channels. The company's future business model centers on prescription drug sales once its lead candidate CNM-Au8 receives regulatory approval. In the pharmaceutical industry, companies typically generate revenue through several mechanisms: direct sales to hospitals and pharmacies, licensing agreements with larger pharmaceutical companies, and partnerships for manufacturing and distribution. Given the rare disease focus of CNM-Au8, particularly for ALS treatment, the company would likely command premium pricing due to limited treatment alternatives and small patient populations. Currently, Clene funds its operations through equity financing, having raised capital through public offerings and private placements. The company burns approximately $20-30 million annually on research and development, clinical trials, and operational expenses. Several factors could significantly impact Clene's future margins and profitability: **Positive factors** include successful clinical trial outcomes that would increase the likelihood of regulatory approval and commercial success, potential partnerships with larger pharmaceutical companies that could provide upfront payments and milestone payments, and the rare disease market's tolerance for high-priced treatments due to limited alternatives. **Negative factors** include the high failure rate in biotechnology clinical trials, intense competition from other companies developing ALS and neurodegenerative disease treatments, regulatory delays or rejections that could extend development timelines, and the significant capital requirements for scaling manufacturing and commercialization. Additionally, the company faces pricing pressure from healthcare payers and potential generic competition once patents expire. The company's success fundamentally depends on proving clinical efficacy in ongoing trials, as failure in key studies could eliminate the primary value proposition and require significant strategic pivots.
Competitive moat
Clene's competitive moat is relatively narrow and primarily based on its proprietary clean-surfaced nanotechnology platform and early-mover advantage in applying nanotechnology to neurodegenerative diseases. The company's CSN technology for creating ultra-small metallic nanoparticles that can cross the blood-brain barrier represents a potentially differentiated approach compared to traditional small molecule or biologic therapies. However, this moat faces significant challenges. The biotechnology industry is characterized by rapid innovation and substantial competition from both established pharmaceutical companies and emerging biotech firms. Large pharmaceutical companies like Biogen, Roche, and others have significantly more resources to develop competing treatments for ALS and other neurodegenerative diseases. Additionally, the company's nanotechnology approach, while novel, is not protected by insurmountable technical barriers that would prevent competitors from developing similar or superior approaches. The company's intellectual property portfolio provides some protection, but patents in biotechnology can be challenged, worked around, or may not provide broad enough coverage to prevent competitive threats. Furthermore, the regulatory pathway for nanotechnology-based therapeutics is still evolving, which creates both opportunities and risks. **Potential disruption** could come from several sources: breakthrough treatments from larger pharmaceutical companies with more advanced clinical programs, alternative therapeutic approaches such as gene therapy or cell therapy that could prove more effective, and the possibility that the company's nanotechnology approach fails to demonstrate sufficient clinical benefit in ongoing trials. The company's position is further weakened by its limited financial resources compared to larger competitors and its dependence on a single lead asset (CNM-Au8) for its primary value proposition. This concentration risk means that clinical failure could be devastating to the company's prospects. Overall, while Clene has carved out a potentially interesting niche in nanotechnology-based neurotherapeutics, its moat is relatively weak and highly dependent on successful clinical execution in a competitive and challenging therapeutic area.
Risks & safety
Clene presents significant financial risks with a very narrow margin of safety: **Overall Assessment**: High financial risk with limited runway and dependence on external funding. **Cash and Solvency**: - Cash position of $9.8 million as of Q1 2025, down from $12.2 million in Q4 2024 - Quarterly cash burn of approximately $5-6 million, providing roughly 1.5-2 quarters of runway - Negative shareholders' equity of approximately -$5 million, indicating liabilities exceed assets - Current ratio of 1.36, providing minimal liquidity cushion **Debt and Financial Structure**: - Total liabilities of $30.3 million exceed total assets of $25.3 million - Debt-to-equity ratio of -4.21 (negative due to negative equity) - Company requires immediate additional funding to continue operations **Valuation Metrics**: - Market cap of approximately $38 million - Trading at negative price-to-book ratio due to negative book value - Revenue of only $342,000 annually against $39.4 million in losses - Enterprise value meaningless due to negative EBITDA and distressed financial position **Other Considerations**: - Clinical-stage company with binary outcomes dependent on trial results - No meaningful revenue diversification beyond minimal supplement sales - High probability of significant dilution from future equity raises - Potential bankruptcy risk if unable to secure additional funding
Recent development
Based on the financial data over recent years, Clene has been executing a focused clinical development strategy while managing severe cash constraints. The company has maintained its core research and development activities despite burning through significant cash reserves, with annual operating cash flow losses of $21-30 million. **Clinical Program Advancement**: The company has progressed its lead candidate CNM-Au8 through multiple clinical trials, including advancing to a Phase 2/3 registrational trial for ALS patients. This represents a critical milestone as registrational trials are designed to generate data sufficient for regulatory approval. The company has also expanded its clinical pipeline to include trials for multiple sclerosis and planned studies for Parkinson's disease, demonstrating the potential broad applicability of its nanotechnology platform. **Financial Management and Survival**: Clene has executed multiple financing rounds to fund operations, though the company's cash position has declined dramatically from $28.8 million at the end of 2023 to $9.8 million by Q1 2025. This cash burn acceleration suggests the company is in a critical phase of clinical development requiring intensive resource allocation. **Strategic Focus**: The company has maintained its focus on the CNM-Au8 program while keeping its other pipeline assets in earlier development stages. The dietary supplement business remains minimal, generating only $300,000-400,000 annually, indicating the company has not pursued this as a meaningful revenue diversification strategy. **Operational Efficiency**: Despite the cash constraints, the company has managed to continue its clinical operations, suggesting disciplined expense management and prioritization of critical development activities over non-essential spending.
CLNN company profile · for informational purposes only — not investment advice.
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