Clene Inc. reported a significant decline in revenue for the first quarter of 2026, generating total revenue of $15,000, down 81% from $81,000 in the same period last year. The company attributed this decrease primarily to reduced sales of its dietary supplement products, which include the Zinc Factor and Gold Factor. Clene's net loss for the quarter was $8.1 million, compared to a loss of $751,000 in the first quarter of 2025, marking a substantial increase in losses year-over-year.
Operating expenses also saw a notable reduction, totaling $2.1 million for the first quarter of 2026, down 50% from $4.2 million in the prior year. This decrease was driven by lower research and development costs, which fell to $329,000 from $1.5 million, as the company scaled back on certain clinical programs. General and administrative expenses also decreased by 34% to $1.7 million, reflecting cost-saving measures implemented by the company.
In terms of strategic developments, Clene Inc. raised $6 million in gross proceeds from a registered direct offering of equity securities during the quarter. This funding is part of the company's ongoing efforts to secure additional financing to support its operations and clinical programs. The company has also been actively engaged in discussions with the FDA regarding its lead drug candidate, CNM-Au8, for the treatment of amyotrophic lateral sclerosis (ALS), with plans to submit a new drug application under the accelerated approval pathway in the third quarter of 2026.
As of March 31, 2026, Clene reported total assets of $21.7 million, an increase from $18.1 million at the end of 2025. The company’s cash and cash equivalents rose to $5.9 million, up from $5.2 million, while its accumulated deficit increased to $316.4 million. Clene's operational metrics indicate a focus on advancing its clinical-stage drug candidates, although the company continues to face challenges in achieving significant revenue generation and maintaining sufficient liquidity.
Looking ahead, Clene Inc. anticipates continued losses as it invests in the development of its drug candidates and prepares for potential regulatory approvals. The company has expressed concerns about its ability to sustain operations without additional funding, highlighting the need for ongoing capital raises and strategic partnerships to support its long-term business objectives.
About Clene Inc.
Clene Inc. is a clinical-stage pharmaceutical company developing innovative nanotechnology-based therapeutics targeting neurodegenerative and infectious diseases. Its proprietary clean-surfaced nanocrystals support cellular energy, reduce oxidative stress, and address protein aggregation. Focused on CNS disorders like ALS, MS, and Parkinson’s, the company aims to revolutionize treatment through catalytically active nanocrystals with broad applicability and multi-modal mechanisms of action.
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