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Clene ( (CLNN) ) has provided an announcement.
Clene has secured a $10 million debt facility with affiliated entities Kensington, 4Life, and La Scala to repay its existing obligations to Avenue Capital and improve its financial position. This new debt facility, which carries a 12% interest rate and is partially convertible into common stock, enhances Clene’s cash position, enabling the company to gather additional data needed for the FDA’s accelerated approval process for its CNM-Au8 drug for ALS. This move reflects Clene’s ongoing commitment to advancing its therapeutic pipeline and maintaining strong relationships with its investors.
More about Clene
Clene Inc. is a late clinical-stage biopharmaceutical company focused on treating neurodegenerative diseases such as amyotrophic lateral sclerosis (ALS) and multiple sclerosis. The company’s flagship product, CNM-Au8, is designed to improve mitochondrial health and neuronal function. Clene operates out of Salt Lake City, Utah, with additional research and development and manufacturing operations in Maryland.
YTD Price Performance: -27.49%
Average Trading Volume: 81,338
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $34.31M
For a thorough assessment of CLNN stock, go to TipRanks’ Stock Analysis page.
