- Proceeds from the offerings will support the company’s operations into the first quarter of 2025.
- Clene also amended its existing debt facility with Avenue Venture Opportunities Fund, L.P. to reduce or defer future monthly principal payments and to extend principal amortization period and the final maturity date into the first half of 2025.
- The company’s lead drug candidate, CNM-Au8® has been shown to restore and protect neurological function, offering new hope for patients with ALS and other neurodegenerative conditions.
- Clene is seeking an accelerated approval pathway for CNM-Au8 for ALS, with a meeting scheduled with the FDA before the end of November.
Clene (NASDAQ: CLNN) and its wholly owned subsidiary, Clene Nanomedicine Inc., a late clinical-stage biopharmaceutical company focused on improving mitochondrial health and protecting neuronal function to treat neurodegenerative diseases, including amyotrophic lateral sclerosis (“ALS”) multiple sclerosis (“MS”) and Parkinson’s Disease (“PD”), announced the successful closing of a $7.3 million registered direct offering and concurrent private placements, designed to boost its capital position during a crucial phase in its on-going operations.
The registered direct offering and concurrent private placements of common stock and warrants with a healthcare-focused institutional investor and existing shareholders, including insiders, brought total gross proceeds of $7.3 million, with the potential for additional capital in the future through the exercise of…
NOTE TO INVESTORS: The latest news and updates relating to CLNN are available in the company’s newsroom at https://ibn.fm/CLNN
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