Clene sells $4 million in stock directly to insiders and existing holders
The Nasdaq-listed biotech priced 1,219,513 shares at $3.28 apiece in a direct offering, with directors and officers committing about $2.1 million as the company flags going-concern doubt.
Clene Inc. disclosed on September 15, 2026 that it entered a securities purchase agreement to sell 1,219,513 shares of common stock at an offering price of $3.28 per share directly to certain existing stockholders, including certain directors and officers.1 The deal carries no placement agent or underwriter, so the company expects proceeds before expenses of approximately $4.0 million.1
Directors and officers agreed to purchase shares with an aggregate purchase price of approximately $2.1 million at the offering price.1 Shares were expected to deliver on or about September 16, 2026.1
Clene said it intends to use the proceeds, along with existing cash, for expenses primarily related to general corporate purposes, including to fund the effort supporting the continued regulatory dialogue and preparation of regulatory filings and a new drug application for its lead drug candidate, CNM-Au8, including expanded access protocols, potential future commercialization efforts and manufacturing expansion.1
The filing details financial strain. Clene's accumulated deficit was $329.8 million as of June 30, 2026, versus $308.3 million at year-end 2025, while cash and cash equivalents totaled $9.7 million as of June 30, 2026, up from $5.2 million at year-end 2025.1 The company said it expects that within the next twelve months it will not have sufficient cash and other resources to sustain current operations or meet obligations unless it obtains additional financing, conditions that raise substantial doubt about its ability to continue as a going concern.1
On the clinical side, Clene said it intends to submit its ALS new drug application in early fourth quarter of 2026, supported by NfL biomarker and clinical data from the Phase 2 HEALEY ALS Platform Trial and its open-label extension, the Phase 2 RESCUE-ALS Trial, and an NIH-sponsored expanded access protocol for CNM-Au8.1 It also said it plans to initiate a Phase 3 RESTORE-ALS trial during the second quarter of 2027 as a post-approval confirmatory study.1
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