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.
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