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General Resonance LLC, a significant shareholder of Clene Inc. (NASDAQ:CLNN), has reported selling a total of 2,733 shares of the company’s common stock over two consecutive days. The stock, which has declined nearly 19% year-to-date and is trading at $4.31, currently sits below its InvestingPro Fair Value. The transactions, disclosed in a recent SEC filing, occurred on March 18 and March 19, 2025, at prices ranging from $4.40 to $4.45 per share. These sales amounted to a total value of $12,091. Following these transactions, General Resonance holds 710,852 shares of Clene Inc. stock, which currently has a market capitalization of $35.88 million. InvestingPro analysis reveals the company is quickly burning through cash, with eight additional key insights available to subscribers.
In other recent news, Clene Inc. announced significant developments regarding its ALS treatment, CNM-Au8. The company reported new survival data from the HEALEY ALS Platform Trial, showing that CNM-Au8 may extend patient survival by 198 days compared to the control group. This data will support ongoing discussions with the FDA as Clene prepares for the Phase 3 RESTORE-ALS study set for mid-2025. Additionally, Clene has secured up to $8 million in additional NIH funding for its ALS treatment program in collaboration with Columbia University, extending financial support until August 2025.
H.C. Wainwright maintained a Buy rating for Clene, with a price target of $31, citing the survival benefits of CNM-Au8 and the company’s collaboration with APST Research to analyze ALS patient data. This partnership aims to support the potential accelerated approval of CNM-Au8 by examining the drug’s impact on neurofilament light chain levels, a biomarker for ALS. Clene plans to submit a New Drug Application to the FDA in the second half of 2025. The company’s efforts underscore its commitment to advancing ALS treatments and improving patient outcomes.
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