Clene stock maintains Buy rating at H.C. Wainwright on Parkinson’s data

Investing.com - H.C. Wainwright reiterated a Buy rating and $31.00 price target on Clene, Inc. (NASDAQ:CLNN), currently trading at $5.95, following the company’s announcement of new preclinical data for its CNM-Au8 treatment for Parkinson’s Disease. According to InvestingPro data, analyst targets range from $20 to $48, reflecting significant upside potential from current levels.

The new data, announced on September 4, was generated through research funded by the Michael J. Fox Foundation. The study demonstrated CNM-Au8’s ability to improve mitochondrial health, restore cellular metabolism, reduce inflammation, and normalize dysregulated gene expression in both familial and sporadic forms of Parkinson’s Disease. The market has responded positively to these developments, with InvestingPro showing a 35% price return over the past six months and an 11.8% gain in the past week.

The research utilized skin cells from 8 sporadic Parkinson’s patients, 14 familial Parkinson’s patients, and 13 healthy individuals. These cells were differentiated into dopaminergic neurons while retaining age-related cellular features. The CNM-Au8 treatment improved mitochondrial health and volume, reduced reactive oxygen species in familial Parkinson’s neurons, and lowered inflammatory markers in sporadic Parkinson’s neurons.

Additional benefits observed included greater NAD+/NADH ratio, indicating improved cellular energy metabolism, and reversal of disease-associated gene expression profiles to near-control levels. These results validate CNM-Au8’s catalytic and metabolic effects in neuronal models reflecting the genetics and aging process of Parkinson’s Disease. While the company shows promise in its research, InvestingPro data indicates the company faces financial challenges with significant cash burn and negative EBITDA of $24.8 million in the last twelve months. Discover more insights and 8 additional ProTips with an InvestingPro subscription.

The findings align with previous Phase 2 REPAIR-PD clinical trial results, which showed improved NAD+/NADH ratio and normalization of critical markers of brain energy production capacity in Parkinson’s patients treated with CNM-Au8.

In other recent news, Clene Inc. reported significant developments surrounding its financial and clinical activities. The company announced a prospectus supplement to offer up to $2,015,000 in additional shares of common stock under an existing agreement with Canaccord Genuity LLC. This move follows a previous sale of approximately $1.7 million in common stock, with a total authorized sale amount of $25 million. Furthermore, Clene completed a Type-C meeting with the FDA regarding its CNM-Au8 treatment for amyotrophic lateral sclerosis (ALS), focusing on the statistical analysis plan for neurofilament light (NfL) biomarker data.

The FDA provided supportive feedback on Clene’s proposed analysis plan, which will assess NfL changes after nine months of treatment. This analysis will be conducted early in the fourth quarter of 2025. Analyst firm Canaccord Genuity has adjusted its price target for Clene from $83 to $48 while maintaining a Buy rating. Similarly, H.C. Wainwright reiterated its Buy rating and set a $31 price target, reflecting optimism about the ALS drug progress. These updates indicate Clene’s continued focus on advancing its ALS treatment and securing financial resources to support its efforts.

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