Clene Inc. reported Q3 2024 financial results with revenue of $87,000, down 19% YoY, and a net loss of $8 million compared to $2.4 million in Q3 2023. Research and development expenses decreased 25% to $4.5 million, while general and administrative costs declined 7% to $3.4 million. The company ended the quarter with $14.6 million in cash and cash equivalents.The company continues to advance its lead drug candidate CNM-Au8, with plans to execute an international Phase 3 RESTORE-ALS trial expected to initiate in Q2 2025. A Type C meeting was held with the FDA on November 1, 2024 regarding potential accelerated approval pathway. For multiple sclerosis, Clene has initiated a second dosing cohort of REPAIR-MS trial with topline results expected by mid-2025.Management highlighted substantial doubt about the company's ability to continue as a going concern, noting current cash resources are insufficient to fund operations for the next 12 months. To address funding needs, Clene raised $3.5 million through a registered direct offering and $3.8 million from private placements that closed on October 1, 2024. The company is exploring additional financing options and implementing cost-saving initiatives.

Clene Inc. reported Q3 2024 financial results with revenue of $87,000, down 19% YoY, and a net loss of $8 million compared to $2.4 million in Q3 2023. Research and development expenses decreased 25% to $4.5 million, while general and administrative costs declined 7% to $3.4 million. The company ended the quarter with $14.6 million in cash and cash equivalents.The company continues to advance its lead drug candidate CNM-Au8, with plans to execute an international Phase 3 RESTORE-ALS trial expected to initiate in Q2 2025. A Type C meeting was held with the FDA on November 1, 2024 regarding potential accelerated approval pathway. For multiple sclerosis, Clene has initiated a second dosing cohort of REPAIR-MS trial with topline results expected by mid-2025.Management highlighted substantial doubt about the company's ability to continue as a going concern, noting current cash resources are insufficient to fund operations for the next 12 months. To address funding needs, Clene raised $3.5 million through a registered direct offering and $3.8 million from private placements that closed on October 1, 2024. The company is exploring additional financing options and implementing cost-saving initiatives.