EF Hutton initiated coverage of Clene with a Buy rating and $23 price target. Clene is a clinical stage biopharmaceutical company that develops novel therapeutic nanocatalysts for treating neurodegenerative diseases, including amyotrophic lateral sclerosis and multiple sclerosis, the analyst tells investors in a research note. The firm says the company’s lead drug candidate CNM-Au8 appears to act at a cellular level on energy production in the central nervous system, noting that it takes 12 months to visualize results.
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