Clene Q2 net loss widens on higher other expenses

Overview

• US biopharmaceutical firm's Q2 net loss widened yr/yr, driven by higher other expenses

• Company closed $7 mln stock offering and extended debt maturities to August 2027

• Clene plans NDA submission for CNM-Au8 in ALS under accelerated approval pathway in early Q4 2026

Outlook

• Clene expects to submit NDA for CNM-Au8 in ALS in early Q4 2026

• Company says cash resources expected to provide operating runway through late Q4 2026

Result Drivers

• HIGHER OTHER EXPENSES - Co attributed increased net loss primarily to a rise in other expenses, including changes in fair value of warrant and derivative liabilities and higher interest expense

• REGULATORY PREPARATION - Increased regulatory activities and NDA preparation contributed to higher expenses, partially offset by lower costs in some clinical programs

• LOWER ADMINISTRATIVE COSTS - General and administrative expenses fell due to lower legal, finance and accounting fees, and increased grant revenue

Company press release: ID:nGNX6nxf2L

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• Wall Street's median 12-month price target for Clene Inc is $30.00, about 616% above its August 13 closing price of $4.19

Reuters Recommended Reads

• Aug 13 - Eledon Pharmaceuticals Q2 net loss widens on warrant liability changes

• Aug 12 - AEON Biopharma Q2 net loss narrows on warrant gain; cash runway extended

• Aug 12 - Unicycive Therapeutics Q2 net loss narrows on warrant liability change

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)