In a challenging market environment, Clene Inc. (CLNN) stock has reached its 52-week low, trading at $3.62, with a market capitalization of just $31.55 million. According to InvestingPro analysis, the stock appears undervalued at current levels. This downturn reflects a significant retreat from better-performing times, with the stock experiencing a steep 1-year decline of 54.42%. Investors are closely monitoring Clene’s performance as the company navigates through the pressures that have led to this year-long decline. InvestingPro data reveals the company is quickly burning through cash, which adds to current market concerns. The current price level presents a critical juncture for the company, as stakeholders consider the stock’s future trajectory in light of recent market trends and Clene’s strategic responses. InvestingPro subscribers have access to 7 additional key insights about CLNN’s financial health and future prospects.
In other recent news, Clene Inc. reported its fourth-quarter and full-year 2024 financial results, revealing earnings per share (EPS) of ($1.61) for the fourth quarter and ($5.67) for the year, which did not meet analysts’ expectations. Despite this, H.C. Wainwright maintained a Buy rating and a $31 price target for Clene, reflecting ongoing confidence in the company’s prospects. Clene also announced new survival data from its HEALEY ALS Platform Trial, indicating that its drug candidate CNM-Au8 may extend the survival of patients with amyotrophic lateral sclerosis (ALS). The trial results showed a median survival improvement of 198 days for patients treated with CNM-Au8 compared to the control group. Additionally, Clene has partnered with APST Research to analyze neurofilament light (NfL) biomarker data, which is crucial for their discussions with the FDA about a potential accelerated approval pathway for CNM-Au8. This collaboration involves examining data from over 4,300 ALS patients to support the drug’s efficacy and safety. Clene plans to submit a New Drug Application (NDA) to the FDA in the second half of 2025. These developments underscore Clene’s commitment to advancing treatments for ALS and other neurodegenerative diseases.
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