earnings
confidence high
sentiment neutral
materiality 0.65
Clene Q2 net loss narrows to $6.8M; ALS survival data shows 60% risk reduction vs controls
Clene Inc.
- Net loss of $6.8M ($1.06 per share) vs $25.1M ($5.84) in Q2 2023; cash and equivalents $21.7M.
- R&D expenses fell to $4.2M from $6.6M, partly due to NIH grant reimbursement for ALS expanded access program.
- CNM-Au8 30mg showed ~60% decreased risk of death vs matched PRO-ACT controls up to 3.5 years (HR 0.431, p=0.0002).
- Submitted briefing book to FDA for Type C meeting in Q3 2024 to discuss accelerated approval pathway for CNM-Au8 in ALS.
- Completed 1-for-20 reverse stock split to regain Nasdaq $1.00 minimum bid price compliance.