Biopharma firm Clene reports Q3 net loss of $8.8 mln
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Biopharma firm Clene reported a Q3 net loss of $8.8 million, up from $8.0 million last year. The company has $7.9 million in cash, extending its runway into Q2 2026. Clene plans to submit an NDA for CNM-Au8 in Q1 2026 and expects to dose the first patient in a Phase 3 ALS trial in H1 2026. Research and development expenses decreased to $3.5 million from $4.5 million. Analysts rate the stock as a "buy," with a 12-month price target of $30.00, 68.6% above the current price.
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