Clene Inc ( (CLNN) ) has released its Q4 earnings. Here is a breakdown of the information Clene Inc presented to its investors.
Clene Inc. is a late clinical-stage biopharmaceutical company focused on developing treatments for neurodegenerative diseases such as amyotrophic lateral sclerosis (ALS) and multiple sclerosis (MS), with a unique approach targeting mitochondrial health and neuronal function.
In its latest earnings report, Clene Inc. announced plans to submit a New Drug Application (NDA) for its investigational therapy CNM-Au8 for ALS in the second half of 2025, aiming for potential accelerated approval. The company also highlighted its financial position and strategic initiatives, including securing a new $10 million debt facility and planning a Phase 3 RESTORE-ALS trial.
Key financial metrics showed Clene’s cash reserves at $12.2 million as of December 31, 2024, down from $35 million the previous year. Research and development expenses decreased to $20.1 million, reflecting lower costs associated with certain clinical trials, while general and administrative expenses also saw a reduction. The company reported a net loss of $39.4 million for the year, an improvement from the $49.5 million loss in 2023.
Looking ahead, Clene is focused on advancing its clinical programs and meeting regulatory requirements for CNM-Au8. The company is optimistic about its strategic initiatives and financial management, which are expected to support its operations into mid-2025 as it continues to pursue innovative treatments for neurodegenerative diseases.
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