How are energy investors positioned?
In a challenging market environment, Clene Inc. (CLNN) stock has reached a 52-week low, trading at $2.95. The biopharmaceutical company, known for its innovative nanotechnology drug candidates, has faced significant headwinds over the past year, with a steep decline of -63.32%. According to InvestingPro analysis, the company’s financial health score is rated as WEAK, with concerning metrics including negative EBITDA of -$31.45M and rapidly diminishing cash reserves. Investors have shown concern as the stock struggles to regain momentum, hitting this low point despite the company’s efforts to advance its clinical programs and secure a stronger position in the competitive biotech industry. The current price level marks a critical juncture for Clene as it seeks to reassure shareholders and attract potential investors looking for opportunities in the healthcare sector. While technical indicators suggest the stock is oversold, InvestingPro subscribers have access to 8 additional key insights that could help inform investment decisions in this volatile situation.
In other recent news, Clene Inc. reported its financial results for the fourth quarter and full year of 2024, revealing earnings per share of ($1.61) for the fourth quarter and ($5.67) for the year, which fell short of analyst expectations. The company maintained a cash position of $12.2 million, expected to support operations until the second quarter of 2025. Clene Inc. has also settled a $125,000 debt by issuing 35,311 shares of common stock, as disclosed in a recent SEC filing. H.C. Wainwright has reiterated its Buy rating and a $31 price target on Clene stock, following the release of new long-term survival data from the HEALEY ALS Platform Trial involving their drug CNM-Au8. The data suggests a survival benefit for ALS patients treated with CNM-Au8, with a median survival increase of 198 days compared to the control group. Clene’s collaboration with APST Research aims to analyze the long-term effects of CNM-Au8 on ALS patients, focusing on neurofilament light chain biomarkers. The company plans to meet with the FDA in the second quarter of 2025 to discuss the accelerated approval pathway for CNM-Au8. Clene is preparing for the Phase 3 RESTORE-ALS study, which is expected to begin in mid-2025, to further investigate CNM-Au8’s efficacy.
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