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CLNN

Clene Inc.

CLNN

Clene Inc. • NASDAQ
$10.36 ▲ 2.07% (+0.21)
Market Cap $96.39 M
52w High $13.50
52w Low $2.28
Dividend Yield 0%
P/E -3.01
Volume 42.46K
Outstanding Shares 9.30M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $15K ▼ $5.663M ▼ $-8.777M ▼ -58.513K% ▼ $-0.85 ▼ $-7.763M ▼
Q2-2025 $27K ▼ $5.891M ▲ $-7.419M ▼ -27.478K% ▼ $-0.78 ▼ $-6.374M ▼
Q1-2025 $81K ▼ $4.137M ▼ $-751K ▲ -927.16% ▲ $-0.085 ▲ $261K ▲
Q4-2024 $91K ▲ $8.728M ▲ $-13.549M ▼ -14.889K% ▼ $-1.95 ▼ $-12.628M ▼
Q3-2024 $87K $7.884M $-7.986M -9.179K% $-1.22 $-6.558M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $7.925M ▲ $22.311M ▲ $34.668M ▲ $-12.357M ▼
Q2-2025 $7.285M ▼ $22.125M ▼ $30.675M ▲ $-8.55M ▼
Q1-2025 $9.832M ▼ $25.314M ▼ $30.287M ▼ $-4.973M ▲
Q4-2024 $12.155M ▼ $27.337M ▼ $36.194M ▲ $-8.857M ▼
Q3-2024 $14.645M $31.569M $35.694M $-4.125M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-8.777M ▼ $-3.975M ▲ $-10.974K ▼ $4.627M ▲ $640K ▲ $-3.986M ▲
Q2-2025 $-7.419M ▼ $-4.744M ▲ $0 $2.133M ▼ $-2.547M ▼ $-4.744M ▲
Q1-2025 $-751K ▲ $-5.011M ▼ $0 ▲ $2.673M ▲ $-2.323M ▲ $-5.011M ▼
Q4-2024 $-13.549M ▼ $-4.865M ▼ $-2K ▼ $2.528M ▲ $-2.49M ▲ $-4.866M ▼
Q3-2024 $-7.986M $-3.023M $-1K $-4.066M $-7.037M $-3.024M

Revenue by Products

Product Q2-2024Q3-2024Q4-2024Q1-2025
Product
Product
 $0 ▲$0 ▲$0 ▲$0 ▲
Royalty
Royalty
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Clene is still a pure research-stage biotech, with no product revenue yet, so all activity flows through as research and operating expenses. Losses have been consistent over the past several years, reflecting ongoing trial costs and corporate overhead rather than any major expansion. The size of the reported loss per share looks large because of the reverse stock split, not because the business suddenly worsened. Overall, this is a typical income statement for an early-stage biotech: steady cash burn, no sales, and dependence on future approvals or partnerships to change that picture.

Balance Sheet

Balance Sheet The balance sheet is thin and has been getting lighter, with total assets and cash shrinking over time. Debt has crept up from very low levels, and shareholders’ equity has recently moved into negative territory, which signals a stressed capital structure. This combination—limited assets, modest but real debt, and accumulated losses—suggests a company with little balance-sheet cushion and a need for ongoing access to fresh capital. Any future financings, partnerships, or non-dilutive funding will be important to stabilize and strengthen this position.

Cash Flow

Cash Flow Clene consistently spends more cash than it brings in, which is normal for a clinical-stage biotech without revenue, but it means the company is structurally cash-burning. Operating cash outflows have been steady, mainly driven by R&D and trial spending rather than heavy investment in equipment or facilities. Free cash flow is negative year after year, so the business depends on external financing to keep trials and operations going. Without a major partnership, licensing deal, or approval, this pattern is likely to continue.

Competitive Edge

Competitive Edge Scientifically, Clene occupies a differentiated niche: it is an early mover in applying nanocatalysis to neurodegenerative diseases, backed by a sizable global patent portfolio. The lead candidate, CNM-Au8, targets cellular energy and neuron health rather than a single protein, which stands out from many competing approaches. At the same time, the company operates in highly competitive areas like ALS, multiple sclerosis, and Parkinson’s disease, where large pharmaceutical firms and other biotechs are also active. Its competitive edge rests on turning promising clinical data and strong IP into regulatory approvals and, potentially, strategic partnerships before rivals establish dominant positions.

Innovation and R&D

Innovation and R&D Innovation is the core of Clene’s story. Its Clean-Surfaced Nanocrystal technology underpins a platform that can, in theory, be applied across several diseases, with CNM-Au8 as the flagship in ALS, MS, and Parkinson’s. Early clinical results and mechanistic data have been encouraging, particularly around neuron protection and survival signals in ALS. Beyond CNM-Au8, the pipeline includes additional nanocrystal-based candidates for infections and oncology, showing breadth but still at an earlier stage. The main tension is between the scientific ambition and the modest financial resources, which can constrain how many programs move forward at once and how quickly.

Summary

Clene is a classic high-risk, high-uncertainty clinical-stage biotech: no revenue, recurring losses, and a balance sheet that has become quite tight. The story is almost entirely about science and regulation rather than current financial performance. Its differentiated nanocatalysis platform, extensive IP, and lead asset in neurodegeneration create meaningful upside potential if pivotal data and regulatory milestones break in its favor. On the other hand, negative equity, ongoing cash burn, and dependence on external funding create clear financial and execution risks. Over the next few years, the market’s view of Clene will likely hinge on regulatory progress for CNM-Au8, the strength of further clinical data, and the company’s ability to secure capital or partnerships without overly burdening existing stakeholders.

NEWS

November 20, 2025 · 8:00 AM UTC

Clene to Participate at the Benchmark 14th Annual Discovery One-on-One Investor Conference

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November 13, 2025 · 8:00 AM UTC

Clene Reports Third Quarter 2025 Financial Results and Recent Operating Highlights

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October 20, 2025 · 8:30 AM UTC

Clene to Present at the Emerging Growth Conference

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October 15, 2025 · 8:30 AM UTC

Clene to Participate in a Panel Discussion at the Maxim Growth Summit

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September 25, 2025 · 8:00 AM UTC

Clene Presents New Clinical Data at ECTRIMS 2025 Meeting Demonstrating CNM-Au8® Improves Brain Energy Metabolism in Multiple Sclerosis Patients

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