Clene price target lowered to $84 from $90 at Benchmark

Benchmark lowered the firm’s price target on Clene (CLNN) to $84 from $90 and keeps a Buy rating on the shares, noting that management and a group of key opinion leaders met in-person with the FDA on November 1 in a Type C meeting to discuss the potential for an accelerated approval pathway for CNM-Au8 in the treatment of ALS. If the FDA is amenable to the use of biomarker data and survival endpoints, the firm believes it could favorably impact the trial design and shorten the time to market, notes the analyst, who cites updating the model for the 10-Q with new share count assumptions for the firm’s lower price target