Clene Inc. Reports Q2 2026 Revenue Increase to $90,000 Amid Continued Losses

Clene Inc. reported its financial results for the second quarter of 2026, revealing a total revenue of $90,000, a significant increase from $27,000 in the same period last year. The company’s product revenue rose to $74,000 from just $1, while royalty revenue decreased to $16,000 from $26,000. For the first half of 2026, total revenue was $105,000, slightly down from $108,000 in the prior year. Despite the increase in revenue, Clene Inc. continued to experience substantial losses, reporting a net loss of $13.4 million for the quarter, compared to a loss of $7.4 million in the same quarter of 2025. The accumulated deficit as of June 30, 2026, stood at $329.8 million, up from $308.3 million at the end of 2025.

Operating expenses for the second quarter decreased to $5.4 million from $5.9 million year-over-year, driven by reductions in both research and development expenses and general and administrative costs. Research and development expenses were $3.5 million, down from $3.5 million in the previous year, while general and administrative expenses fell to $1.9 million from $2.4 million. The company attributed these changes to cost-saving initiatives, including a reduction in certain research programs and employee compensation.

In terms of operational developments, Clene Inc. has been focusing on advancing its clinical programs, particularly for its lead drug candidate, CNM-Au8, which is being developed for the treatment of amyotrophic lateral sclerosis (ALS) and multiple sclerosis (MS). The company plans to submit a new drug application (NDA) to the FDA in early Q4 2026, supported by recent biomarker analyses that indicate potential benefits for patients treated with CNM-Au8. Additionally, Clene has raised $13 million in gross proceeds from registered direct offerings of equity securities during the first half of 2026, which is part of its strategy to secure additional funding to support ongoing operations.

As of June 30, 2026, Clene Inc. had cash and cash equivalents of $9.7 million, an increase from $5.2 million at the end of 2025. The company reported net cash used in operating activities of $7.1 million for the first half of 2026, a decrease from $9.8 million in the same period last year. Clene's total liabilities increased to $47.8 million from $35.7 million at the end of 2025, primarily due to the issuance of convertible notes and common stock warrant liabilities. The company continues to face substantial doubt about its ability to continue as a going concern without additional financing, as it anticipates incurring further losses while advancing its clinical programs.

Looking ahead, Clene Inc. plans to explore various funding options, including equity and debt financing, to support its operations and clinical development efforts. The company is also focused on mitigating its funding needs through cost-saving measures and strategic partnerships. However, the successful implementation of these plans remains uncertain, and the company acknowledges the risks associated with its ongoing clinical trials and the regulatory approval process for its drug candidates.