Clene closes $4M direct offering to fund operations into 2027

Clene Inc. (NASDAQ: CLNN) has closed a $4 million registered direct offering of common stock to existing shareholders, including company insiders, according to a press release from the Salt Lake City-based biotechnology company.

The offering was led by board Chairman David Matlin, alongside founding investor Kensington Capital Holdings, the company's chief executive officer, and other existing shareholders. No placement agent, underwriter, broker, or dealer was used in the transaction, which was priced at market under Nasdaq rules.

Clene said the proceeds are expected to fund operations through mid-first quarter 2027, a period that extends beyond the potential FDA decision on whether to accept the company's New Drug Application (NDA) for CNM-Au8 for the treatment of amyotrophic lateral sclerosis (ALS) under the accelerated approval pathway.

The company noted that if the FDA accepts the NDA for review, warrants issued in a January 2026 financing could generate an additional $6.7 million to $7.8 million in proceeds from common stock exercises, potentially extending its cash runway further.

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