Shares of Clene Inc. (CLNN) fell more than 16% after the company announced it has priced a $7 million underwritten registered direct offering of 1,000,000 shares of common stock at $7.00 per share to a single investor.
Clene said gross proceeds are expected to total approximately $7 million before underwriting discounts, commissions, and offering expenses. The company plans to use the net proceeds, together with existing cash, for general corporate purposes and to support key programs, including:
- preparation and filing of its New Drug Application (NDA) for its lead drug candidate, CNM-Au8
- continued access to CNM-Au8 through expanded access protocols
- its future confirmatory Phase 3 clinical trial
- manufacturing expansion
- potential commercialization efforts
- additional early-stage research and development activities
The offering is expected to close on or about May 6, 2026, subject to customary closing conditions. Canaccord Genuity LLC is acting as the sole bookrunner for the transaction
Clene noted that the offering is being conducted under its existing shelf registration statement on Form S-3 filed with the SEC. A final prospectus supplement will be filed upon closing.
CLNN as traded between $2.28 and $13.50 over the past year. The stock is currently trading at $6.78, down 16.25%.
For comments and feedback contact: editorial@rttnews.com
Business News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.