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8-K: CLENE REPORTS First QUARTER 2024 FINANCIAL RESULTS AND RECENT OPERATING HIGHLIGHTS

SEC announcement ·  May 8 08:03
Summary by Moomoo AI
On May 8, 2024, Clene Inc., a late-stage biopharmaceutical company, announced its financial results for the first quarter of 2024, which ended on March 31, 2024. The announcement was made through a press release and was also filed with the SEC on Form 8-K. Clene, known for its focus on neurodegenerative diseases such as ALS and MS, reported a cash balance of $27.9 million, which is expected to fund operations into Q4 2024. Research and development expenses decreased to $5.9 million from $7.4 million in the same period last year, while general and administrative expenses remained stable at $3.4 million. The company experienced a net loss of $11.1 million, or $0.09 per share, an improvement from the previous year's net loss of $11.8 million, or $0.15 per share. Clene highlighted significant progress in...Show More
On May 8, 2024, Clene Inc., a late-stage biopharmaceutical company, announced its financial results for the first quarter of 2024, which ended on March 31, 2024. The announcement was made through a press release and was also filed with the SEC on Form 8-K. Clene, known for its focus on neurodegenerative diseases such as ALS and MS, reported a cash balance of $27.9 million, which is expected to fund operations into Q4 2024. Research and development expenses decreased to $5.9 million from $7.4 million in the same period last year, while general and administrative expenses remained stable at $3.4 million. The company experienced a net loss of $11.1 million, or $0.09 per share, an improvement from the previous year's net loss of $11.8 million, or $0.15 per share. Clene highlighted significant progress in its CNM-Au8 clinical program for MS, including promising data from a Phase 2 trial and a peer-reviewed publication on the drug's protein corona. Additionally, Clene received a sub-award of $7.3 million from an NIH grant for an ALS Expanded Access Program. The company's President and CEO, Rob Etherington, expressed optimism about upcoming FDA discussions and the potential filing of a New Drug Application in the second half of the year.

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