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In a recent transaction, General Resonance LLC, a major shareholder of Clene Inc. (NASDAQ:CLNN), sold 420 shares of common stock. The shares were sold at $2.595 each, amounting to a total value of $1,089. The stock, which has declined nearly 37% over the past six months, currently trades at $2.61, significantly below its 52-week high of $9.20. InvestingPro analysis suggests the stock is trading below its Fair Value. Following this sale, General Resonance LLC retains ownership of 710,012 shares in the company. The transaction, dated May 28, 2025, was disclosed in a filing with the Securities and Exchange Commission. With a market capitalization of $23.44 million and an overall financial health score rated as ’WEAK’ by InvestingPro, investors should note that the company is currently burning through cash rapidly. For more detailed insights and 8 additional ProTips about CLNN, consider exploring InvestingPro.
In other recent news, Clene Inc. has announced several significant developments. The company entered into an Equity Distribution Agreement with Canaccord Genuity LLC, allowing Clene to offer and sell up to $25 million of its common stock. This move is part of a broader strategy to raise capital for its operations. Additionally, Clene resolved a $125,000 debt by issuing shares, a strategic decision aimed at reducing its debt load without incurring additional cash expenditures.
Furthermore, Clene reported promising results from its VISIONARY-MS Trial long-term extension study, showing improvements in multiple sclerosis patients treated with CNM-Au8. This treatment demonstrated potential in remyelination and neuronal repair, with significant enhancements in cognition and visual function. On the financial front, Clene’s fourth-quarter and full-year earnings for 2024 did not meet analyst expectations, with a reported EPS of ($1.61) for the quarter and ($5.67) for the year. Despite this, H.C. Wainwright maintained a Buy rating and a $31 price target for Clene, citing the company’s ongoing efforts in developing treatments for ALS.
Clene also shared new long-term survival data related to its CNM-Au8 treatment in the HEALEY ALS Platform Trial, reinforcing its potential benefits. The company plans to continue discussions with the FDA for potential accelerated approval and is preparing for the Phase 3 RESTORE-ALS study, expected to start in mid-2025.
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