Clene Inc.
Business
Clene Inc. is a clinical-stage pharmaceutical company developing clean-surfaced nanotechnology (CSN) therapeutics—catalytically-active nanocrystals designed to enhance cellular energy metabolism and protect neuronal health. The company's lead asset, CNM-Au8, a gold nanocrystal suspension, targets central nervous system disorders including amyotrophic lateral sclerosis, multiple sclerosis, and Parkinson's disease. Clene is advancing CNM-Au8 through Phase 2 clinical trials and expanded access programs. The company also develops early-stage therapeutic assets (CNM-ZnAg, CNM-AgZn17) for infectious disease and dietary supplements marketed through its subsidiary dOrbital and a licensed partnership with 4Life Research.
Summary from 10-K filed 2026-03-17
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Total revenue | 200,000 | 342,000 | 654,000 | 473,000 | 723,000 | |
| Cost of revenue | 43,000 | 70,000 | 121,000 | 26,000 | 289,000 | |
| Research and development | 14 | 20 | 27 | 32 | 28 | |
| General and administrative | 9 | 13 | 14 | 17 | 22 | |
| Total operating expenses | 23 | 33 | 41 | 49 | 51 | |
| Loss from operations | −23 | −33 | −41 | −48 | −50 | |
| Interest income | 223,000 | 865,000 | 1 | 225,000 | — | |
| Interest expense | −3 | −4 | −5 | — | — | |
| Loss on extinguishment of notes payable | 0 | −214,000 | 0 | — | — | |
| Issuance costs for common stock warrant liabilities | 0 | −157,000 | −333,000 | 0 | — | |
| Loss on initial issuance of equity | 0 | −2 | −15 | 0 | — | |
| Change in fair value of common stock warrant liabilities | −522,000 | −702,000 | 6 | 169,000 | — | |
| Change in fair value of derivative liabilities | −363,000 | −379,000 | 0 | 169,000 | 983,000 | |
| Change in fair value of Clene Nanomedicine contingent earn-out liability | 0 | 75,000 | 2 | 16 | 34 | |
| Change in fair value of Initial Stockholders contingent earn-out liability | 0 | 10,000 | 281,000 | 2 | 4 | |
| Research and development tax credits and unrestricted grants | 254,000 | 357,000 | 963,000 | 3 | 2 | |
| Other expense, net | 0 | −1,000 | 10,000 | 32,000 | −12,000 | |
| Total other income (expense), net | −3 | −6 | −9 | 18 | 40 | |
| Net loss before income taxes | −26 | −39 | −50 | −30 | −10 | |
| Income tax expense | 0 | 0 | 0 | 0 | 428,000 | |
| Net loss | −26 | −39 | −50 | −30 | −10 | |
| Unrealized loss on available-for-sale securities | 0 | −1,000 | — | — | — | |
| Foreign currency translation adjustments | 101,000 | −127,000 | −20,000 | −16,000 | −92,000 | |
| Total other comprehensive income (loss) | 101,000 | −128,000 | −4,000 | −30,000 | −92,000 | |
| Comprehensive loss | −26 | −40 | −50 | −30 | −10 | |
| Net loss per share basic and diluted (in dollars per share) | −2.65 | −5.67 | −9.43 | −0.46 | −0.16 | |
| Weighted average common shares used to compute basic and diluted net loss per share (in shares) | 10 | 7 | 5 | 65 | 62 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2022 2022-02-28 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 5 | 12 | 29 | 18 | — | |
| Accounts receivable | 0 | 64,000 | 143,000 | 189,000 | — | |
| Inventory | 37,000 | 68,000 | 37,000 | 43,000 | — | |
| Prepaid expenses and other current assets | 4 | 4 | 4 | 6 | — | |
| Total current assets | 9 | 16 | 39 | 29 | — | |
| Restricted cash | 58,000 | 58,000 | 58,000 | 58,000 | — | |
| Operating lease right-of-use assets | 3 | 4 | 4 | 5 | 2 | |
| Property and equipment, net | 6 | 7 | 9 | 11 | — | |
| TOTAL ASSETS | 18 | 27 | 52 | 44 | — | |
| Accounts payable | 892,000 | 1 | 2 | 3 | — | |
| Accrued liabilities | 5 | 8 | 4 | 4 | — | |
| Operating lease obligations, current portion | 808,000 | 926,000 | 576,000 | 488,000 | — | |
| Notes payable, current portion | 2 | 359,000 | — | — | — | |
| Convertible notes payable, current portion | 2 | 0 | — | — | — | |
| Total current liabilities | 11 | 10 | 25 | 14 | — | |
| Operating lease obligations, net of current portion | 3 | 4 | 5 | 6 | — | |
| Notes payable, net of current portion | 4 | 5 | 2 | 9 | — | |
| Convertible notes payable | 10 | 11 | 5 | 10 | — | |
| TOTAL LIABILITIES | 36 | 36 | 39 | 41 | — | |
| Commitments and contingencies (Note 9) | — | — | — | — | — | |
| Common stock, $0.0001 par value: 600,000,000 shares authorized; 10,849,974 and 8,089,565 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | 1,000 | 1,000 | 1,000 | 7,000 | — | |
| Additional paid-in capital | 291 | 273 | 256 | 196 | — | |
| Accumulated deficit | −308 | −282 | −243 | −193 | — | |
| Accumulated other comprehensive income | 172,000 | 71,000 | 199,000 | 203,000 | — | |
| TOTAL STOCKHOLDERS DEFICIT | −18 | −9 | 13 | 3 | — | |
| TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT | 18 | 27 | 52 | 44 | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation | 1 | 2 | 2 | 1 | 955,000 | |
| Non-cash lease expense | 571,000 | 524,000 | 434,000 | 389,000 | 171,000 | |
| Issuance of common stock as payment of outstanding indebtedness | 8,000 | 0 | — | — | — | |
| Stock-based compensation expense | 6 | 8 | 9 | 9 | 12 | |
| Loss on disposal of property and equipment | 0 | 154,000 | 0 | — | — | |
| Accretion of debt discount | 1 | 1 | 1 | 863,000 | 336,000 | |
| Non-cash interest income on marketable securities | 0 | −153,000 | 0 | — | — | |
| Non-cash interest expense on notes payable | 612,000 | 136,000 | 350,000 | — | — | |
| Accounts receivable | 64,000 | 79,000 | 46,000 | −140,000 | −28,000 | |
| Inventory | 31,000 | −31,000 | 6,000 | −2,000 | 150,000 | |
| Prepaid expenses and other current assets | 119,000 | −198,000 | 2 | −1 | −702,000 | |
| Accounts payable | −348,000 | −264,000 | −2 | 285,000 | 1 | |
| Accrued liabilities | −2 | 4 | −143,000 | 253,000 | 894,000 | |
| Operating lease obligations | −1 | −421,000 | −566,000 | −493,000 | −154,000 | |
| Net cash used in operating activities | −19 | −21 | −30 | −39 | −35 | |
| Purchases of marketable securities | 0 | −6 | −6 | −25 | 0 | |
| Proceeds from maturities of marketable securities | 0 | 13 | 5 | 12 | 0 | |
| Purchases of property and equipment | −39,000 | −15,000 | −330,000 | −5 | −1 | |
| Net cash provided by (used in) investing activities | −39,000 | 6 | −1 | −10 | −1 | |
| Proceeds from exercise of stock options | 0 | 124,000 | 0 | 310,000 | 443,000 | |
| Proceeds from issuance of common stock, warrants, and pre-funded warrants, net of offering costs | 10 | 9 | 42 | 11 | — | |
| Proceeds from the issuance of debt and derivative liabilities | 2 | 10 | 350,000 | — | — | |
| Payments of notes payable | −384,000 | −21 | 0 | 0 | −5,000 | |
| Payments of finance lease obligations | 0 | −27,000 | −81,000 | −135,000 | −152,000 | |
| Net cash provided by (used in) financing activities | 12 | −2 | 42 | 17 | 27 | |
| Net decrease in cash, cash equivalents and restricted cash | −7 | −17 | 10 | −32 | −9 | |
| Effect of foreign exchange rate changes on cash and restricted cash | 101,000 | −127,000 | −4,000 | −30,000 | −85,000 | |
| Derivative liability recorded upon debt modification | 687,000 | 67,000 | — | — | — | |
| Derivative liability recorded upon debt issuance | 239,000 | 0 | — | — | — | |
| Common stock warrant liability recorded upon public stock offering | 0 | 2 | 7 | 0 | — | |
| Cash paid for interest expense | 1 | 3 | 3 | 2 | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Clene Inc.'s CIK number?
Clene Inc.'s SEC CIK number is 0001822791 (1822791). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Clene Inc.'s SEC filings?
All of Clene Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Clene Inc. last report earnings?
Clene Inc. (CLNN) most recently filed an earnings 8-K with the SEC on May 14, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001437749-26-016881). This is Clene Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Clene Inc.'s most recent earnings 8-K?
Clene Inc.'s latest earnings 8-K (Item 2.02) was filed May 14, 2026 under accession 0001437749-26-016881. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Clene Inc.'s latest earnings 8-K →
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