Clene Inc. CLNN
We are a clinical-stage pharmaceutical company pioneering the discovery, development, and commercialization of novel clean-surfaced nanotechnology ("CSN®") therapeutics. CSN® therapeutics are comprised of atoms of transition elements that, when assembled in nanocrystal form, possess unusually high, unique catalytic activities not present in those same elements in bulk form. These catalytic activities drive, support, and maintain beneficial metabolic and energetic cellular reactions within diseased, stressed, and damaged cells.
We believe that our patent-protected, proprietary position affords us the potential to develop a broad and deep pipeline of novel CSN therapeutics to address a range of diseases with high impact on human health. We innovated an electro-crystal-chemistry drug development platform that draws from advances in nanotechnology, plasma and quantum physics, materials science, and biochemistry. Our platform process results in nanocrystals with faceted structures and surfaces that are free of the chemical surface modifications that accompany other production methods. Many traditional methods of nanoparticle synthesis involve the unavoidable deposition of potentially toxic organic residues and stabilizing surfactants on the particle surfaces. Synthesizing stable nanocrystals that are both nontoxic and highly catalytic has overcome this significant hurdle in harnessing transition metal catalytic activity for therapeutic use. Our clean-surfaced nanocrystals exhibit catalytic activities many-fold higher than other commercially available nanoparticles, produced using various techniques, that we have comparatively evaluated.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $200.0K | $342.0K | $654.0K | $473.0K | $723.0K | $206.0K | — | — |
| Cost of revenue | $43.0K | $70.0K | $121.0K | $26.0K | $289.0K | — | — | — |
| Gross profit | $157.0K | $272.0K | $533.0K | $447.0K | $434.0K | — | — | — |
| R&D | $14.0M | $20.1M | $26.7M | $31.9M | $28.4M | $15.2M | $9.6M | — |
| SG&A | $9.2M | $13.3M | $14.4M | $16.9M | $22.0M | $5.2M | $6.8M | — |
| Total operating expenses | $23.3M | $33.4M | $41.2M | $48.9M | $50.7M | $20.4M | $16.3M | — |
| Operating income | -$23.1M | -$33.1M | -$40.5M | -$48.4M | -$50.0M | -$20.2M | -$16.3M | — |
| Interest expense | $2.7M | $4.1M | $4.6M | $3.3M | $870.0K | $950.0K | $88.0K | — |
| Pre-tax income | -$26.2M | -$39.4M | -$49.5M | -$29.9M | -$10.2M | -$18.9M | -$16.2M | — |
| Income tax | $0 | $0 | $0 | $0 | $428.0K | $406.0K | — | — |
| Net income | -$26.2M | -$39.4M | -$49.5M | -$29.9M | -$9.7M | -$19.3M | -$16.2M | — |
| EPS, basic | -2.65 | -5.67 | -9.43 | -0.46 | -0.16 | — | — | — |
| EPS, diluted | — | — | — | — | -0.16 | -1.10 | -0.93 | — |
| Shares, diluted (wtd. avg.) | 9.9M | 7.0M | 5.2M | 65.2M | 61.6M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $5.2M | $12.2M | $28.8M | $18.3M | $50.3M | $59.3M | $8.8M | $16.8M |
| Short-term investments | — | $0 | $6.2M | $5.0M | $0 | — | — | — |
| Receivables | $0 | $64.0K | $143.0K | $189.0K | $49.0K | $21.0K | — | — |
| Inventory | $37.0K | $68.0K | $37.0K | $43.0K | $41.0K | $191.0K | $28.0K | — |
| Total current assets | $9.0M | $16.2M | $38.9M | $29.2M | $54.6M | $63.0M | $9.5M | — |
| Property, plant and equipment | — | — | — | — | $5.2M | $4.2M | $4.3M | — |
| Total assets | $18.1M | $27.3M | $52.3M | $44.5M | $63.1M | $68.2M | $14.9M | — |
| Accounts payable | $892.0K | $1.2M | $1.5M | $3.0M | $1.9M | $1.1M | $889.0K | — |
| Short-term debt | — | — | — | — | — | $5.9M | — | — |
| Total current liabilities | $10.8M | $10.3M | $25.3M | $13.9M | $6.0M | $11.7M | $4.3M | — |
| Long-term debt | $17.8M | — | — | — | — | — | — | — |
| Total liabilities | $35.7M | $36.2M | $39.0M | $41.3M | $50.5M | $67.9M | $10.0M | — |
| Retained earnings | -$308.3M | -$282.1M | -$242.7M | -$193.2M | -$163.3M | -$153.6M | -$69.6M | — |
| Total equity | -$17.6M | -$8.9M | $13.4M | $3.2M | $12.6M | $341.0K | -$67.8M | -$52.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$18.5M | -$21.3M | -$30.2M | -$39.0M | -$34.6M | -$18.9M | -$13.2M | — |
| Depreciation and amortisation | $1.5M | $1.6M | $1.7M | $1.0M | $955.0K | $963.0K | $848.0K | — |
| Stock-based compensation | $6.4M | $8.0M | $9.1M | $8.5M | $12.4M | $761.0K | $399.0K | — |
| Capital expenditure | $39.0K | $15.0K | $330.0K | $5.2M | $1.3M | $387.0K | $294.0K | — |
| Investing cash flow | -$39.0K | $6.3M | -$1.5M | -$10.2M | -$1.3M | -$387.0K | -$294.0K | — |
| Financing cash flow | $11.5M | -$1.5M | $42.2M | $17.2M | $27.1M | $69.5M | $5.5M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-008502.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | $206.0K | $723.0K | $473.0K | $654.0K | $342.0K | $200.0K |
| Gross profit | — | — | — | $434.0K | $447.0K | $533.0K | $272.0K | $157.0K |
| Net income | — | -$16.2M | -$19.3M | -$9.7M | -$29.9M | -$49.5M | -$39.4M | -$26.2M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed Item 1.01
- Results announced Item 2.02
- Material agreement signed Item 1.01
- Other event Item 8.01
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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