CLNN Stock — Clene Inc.: Cash, EV, Pipeline

What they do

We are a clinical-stage pharmaceutical company pioneering the discovery, development, and commercialization of novel clean-surfaced nanotechnology (“CSN ® ”) therapeutics. CSN ® therapeutics are comprised of atoms of transition elements that, when assembled in nanocrystal form, possess unusually high, unique catalytic activities not present in those same elements in bulk form.

Source: 10-K FY2025 via SEC EDGAR

Share price

$3.95

Market cap

$56.9M

Cash

$9.9M

Enterprise value

$64.5M

Balance sheet

Cash	$9.9M
Debt	$17.5M
Net cash	-$7.6M
Enterprise value	$64.5M
Basic shares	14.4M shares
Fully diluted shares	24.3M shares
Fully diluted market cap	$96.1M
Cash per share	$0.69
Quarterly burn	$2.6M
Cash runway	3.7 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-07.

Share structure

Common

12.8M

Pre-funded warrants

0.0M

Options

3.6M

RSUs

0.0M

Warrants

7.9M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

0.0M

FDSO

24.3M

Cap table as of 2026-06-30.

Price history

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Upcoming catalysts

No upcoming catalysts on file for this company.

Full readout calendar →

Pipeline assets

CNM-Au8

Phase 2 · Active Modality: catalytically-active gold nanocrystal suspension (orally dosed)

Target Mitochondrial dysfunction (NAD+ production)

Indications

Amyotrophic lateral sclerosis (ALS) (Phase 2)
Multiple sclerosis (MS) (Phase 2)
Parkinson's disease (PD) (Phase 2)

Catalysts

— early fourth quarter of 2026
— second quarter of 2027

Status note Lead and only advanced asset. RESCUE-ALS Phase 2 did not meet primary or secondary endpoints (Nov 2021); HEALEY ALS Platform Trial primary endpoint not statistically significant (Oct 2022). NIH ACT-EAP ($45.1M grant) and NMSS grants ($0.3M/$0.7M) support ALS and MS programs. No revenue from product sales.

Per-asset detail extracted from the 10-Q filed 2026-08-14. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	CNMAu8
Lead indication	Amyotrophic Lateral Sclerosis
Lead phase	Phase 2
Active trials	1

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT05299658	Phase 2	Active, not recruiting	Sponsor	Clene Nanomedicine	—	Amyotrophic Lateral Sclerosis	—

Sponsor-matched active trials from ClinicalTrials.gov (1 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 1 active trials for Clene Nanomedicine on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
Boxer Capital	477,515	no change	0.22%	2026-08-14
ADAR1 Capital Management	15,000	+15,000	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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CLNN — Clene Inc. ☆

What they do

Balance sheet

Share structure

Price history

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

CLNN — Clene Inc.