Gold prices slip lower; consolidating after recent gains
General Resonance LLC, a significant shareholder of Clene Inc. (NASDAQ:CLNN), reported the sale of 410 shares of the company’s common stock on May 30, 2025. The shares were sold at an average price of $2.80 each, amounting to a total transaction value of $1,148. The micro-cap company, currently valued at $28 million, has seen its stock surge 15.6% in the past week despite showing weak financial health according to InvestingPro metrics. Following this sale, General Resonance LLC holds 709,192 shares in Clene Inc. This transaction was disclosed in a recent SEC filing. InvestingPro analysis suggests the stock is currently overvalued, with 8 additional key insights available to subscribers, including detailed analyst forecasts and profitability metrics.
In other recent news, Clene Inc. announced the entry into a $25 million Equity Distribution Agreement with Canaccord Genuity LLC, allowing the company to sell its common stock through the placement agent. This agreement is part of Clene’s strategy to raise capital as needed for its operations. Additionally, Clene reported promising results from its VISIONARY-MS Trial, showing improvements in multiple sclerosis patients treated with CNM-Au8, a gold nanocrystal oral suspension, which suggests potential remyelination and neuronal repair. The trial’s findings were presented at the AAN 2025 Annual Meeting, highlighting enhancements in cognition and visual function among patients.
Furthermore, Clene has settled an outstanding $125,000 debt by issuing shares, a move that helps manage financial obligations without additional cash expenditures. The company also recently reported its financial results for 2024, with earnings per share not meeting analyst expectations, but H.C. Wainwright maintained a Buy rating and a $31 price target for Clene. The analyst firm cited Clene’s continued progress in developing CNM-Au8 for ALS treatment as a reason for their confidence. Clene plans to engage further with the FDA to discuss accelerated approval pathways for CNM-Au8, based on additional data from ongoing trials. These developments reflect Clene’s ongoing efforts in advancing its therapeutic pipeline and managing its financial strategy.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.