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Investing.com - Canaccord Genuity lowered its price target on Clene , Inc. (NASDAQ:CLNN) to $48.00 from $83.00 on Monday, while maintaining a Buy rating on the stock. Currently trading at $3.62, with a market capitalization of $36.17 million, the stock sits well below even the most conservative analyst target of $20.00, according to InvestingPro data.
The firm updated its model following Clene’s second-quarter 2025 results, continuing to include contributions from ALS and MS programs at probabilities of approval of 33% and 20%, respectively. InvestingPro analysis shows the company is quickly burning through cash, with a negative EBITDA of $24.83 million in the last twelve months.
Canaccord removed Clene’s Parkinson’s disease program from its model and valuation, focusing instead on ALS and MS as nearer-term opportunities. The firm also pushed back its assumed ALS launch timeline from 2026 to 2027, acknowledging this timeline depends on FDA allowing submission via the accelerated approval pathway.
The research firm also delayed its projected MS launch by one year to 2029. Approximately $35 of the new $48 price target is attributed to the ALS indication, according to Canaccord’s DCF-based valuation.
Clene has indicated it has sufficient cash runway into the first quarter of 2026, with Canaccord modeling warrant-based capital raises in 2026 and 2027 tied to potential regulatory milestones. Investors should note that the company’s next earnings report is scheduled for August 21, 2025, just three days away, where these projections may be further discussed. Get more insights and 7 additional key tips for CLNN with InvestingPro.
In other recent news, Clene Inc. has filed a prospectus supplement to offer and sell up to $2,015,000 of additional shares of its common stock. This offering is part of an existing equity distribution agreement with Canaccord Genuity LLC, which has already facilitated the sale of approximately $1,713,263 worth of shares. The total aggregate amount authorized for sale through this agreement is $25 million. In a significant development, Clene has completed a Type-C meeting with the FDA concerning its CNM-Au8 treatment for amyotrophic lateral sclerosis (ALS). The meeting aimed to finalize the statistical analysis plan for the treatment’s effect on Neurofilament Light Chain (NfL) measurements. H.C. Wainwright has maintained its Buy rating and $31.00 price target for Clene, reflecting confidence in the company’s ALS drug progress. Clene also received supportive feedback from the FDA on its proposed analysis plan for NfL biomarker data. The company plans to conduct these analyses early in the fourth quarter of 2025, focusing on data from nearly 200 ALS patients.
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