SoFi shares rise as record revenue, member growth drive strong Q3 results
Investing.com - Clene, Inc. (NASDAQ:CLNN) maintained its Buy rating and $31.00 price target at Benchmark following positive clinical data for its CNM-Au8 treatment for Multiple Sclerosis. The micro-cap biotech, currently valued at $57.7 million, has seen its stock surge 66% over the past six months despite challenging market conditions.
The data was presented in a late-breaking session at the 41st Congress of the European Committee for Treatment and Research in Multiple Sclerosis (ECTRMS), highlighting MS as the second indication in development for CNM-Au8 alongside its lead program in ALS.
The combined REPAIR-MS results across relapsing MS and non-active progressive MS demonstrated that CNM-Au8 improved brain energy metabolism, as evidenced by an improved NAD+/NADH ratio.
Benchmark noted the significance of these findings for Clene’s development pipeline, reinforcing the firm’s positive outlook on the company’s therapeutic approach.
Clene also reported that during a recent end-of-Phase-2 meeting for its MS program, the FDA acknowledged limitations of the current standard endpoint for MS trials and expressed openness to considering alternative primary endpoints, including cognition, to evaluate broader treatment effects. While the company reported an EBITDA of -$24.83 million in the last twelve months, InvestingPro analysis reveals 8 additional key insights about the company’s financial health and growth prospects.
In other recent news, Clene Inc. has announced several developments that are of interest to investors. The company filed a prospectus supplement to offer up to $6.28 million in additional shares of its common stock, under an equity distribution agreement with Canaccord Genuity LLC. This follows a prior sale of approximately $3.71 million in common stock under the same agreement. Additionally, Clene filed another prospectus supplement to offer and sell up to $2,015,000 in shares, as part of the same distribution agreement.
Benchmark has lowered its price target for Clene to $31 due to potential funding concerns related to the company’s upcoming FDA New Drug Application submission for CNM-Au-8 in ALS treatment. Despite this, Benchmark maintains a Buy rating on the stock. Canaccord Genuity also lowered its price target for Clene from $83 to $48, while still maintaining a Buy rating. This adjustment follows Clene’s second-quarter 2025 results and includes contributions from its ALS and MS programs. Meanwhile, H.C. Wainwright reiterated a Buy rating and a $31 price target after Clene announced new preclinical data showing positive effects of CNM-Au8 on Parkinson’s Disease.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.