Clene Inc.: Full Year 2024 Financial Results and Operating Highlights in Neurodegenerative Diseases
Salt Lake City, UT – Clene Inc. (Nasdaq: CLNN), a pioneering biopharmaceutical company, and its wholly-owned subsidiary Clene Nanomedicine Inc., reported their financial results for the year ended December 31, 2024. The company, which focuses on revolutionizing the treatment of neurodegenerative diseases, including Amyotrophic Lateral Sclerosis (ALS) and Multiple Sclerosis (MS), showcased significant progress in their clinical programs.
Financial Highlights
For the year ended December 31, 2024, Clene reported a net loss of $125.8 million, compared to a net loss of $104.5 million in the same period in 2023. The increase in net loss was primarily due to increased research and development expenses related to the ongoing clinical trials for CNM-Au8 and CNM-Au8-MS. Operating expenses for the year were $118.2 million, up from $97.5 million in 2023.
Operating Highlights: Clene Nanomedicine’s Progress in ALS and MS
Clene’s subsidiary, Clene Nanomedicine, reported several key milestones in their clinical programs for ALS and MS:
- ALS: The Phase 3 clinical trial for CNM-Au8 in ALS, named “ASAP-302,” achieved its primary and secondary endpoints. The study demonstrated a statistically significant improvement in the rate of decline of the Amyotrophic Lateral Sclerosis Functional Rating Scale-Revised (ALSFRS-R) Total Score. The data will be submitted to regulatory authorities for potential approval and commercialization.
- MS: The Phase 2b clinical trial for CNM-Au8-MS, named “ASCEND,” is ongoing and has enrolled over 200 participants. The study aims to evaluate the safety and efficacy of CNM-Au8 in the treatment of relapsing-remitting MS. Topline data is expected to be available in the second half of 2025.
Impact on Individuals and the World
For individuals living with neurodegenerative diseases, the progress made by Clene and Clene Nanomedicine holds great promise. If approved, CNM-Au8 could offer a new treatment option for those suffering from ALS and potentially MS. This could significantly improve their quality of life and potentially extend their lifespan.
On a global scale, the advancements made by Clene could revolutionize the way we approach neurodegenerative diseases. With millions of people affected by these conditions worldwide, the development of effective treatments could lead to a substantial reduction in the burden on healthcare systems and society as a whole. Furthermore, the success of Clene’s work could encourage further research and investment in the field, ultimately leading to more breakthroughs and advancements in the treatment of neurodegenerative diseases.
Conclusion
Clene Inc.’s subsidiary, Clene Nanomedicine, reported significant progress in their clinical trials for CNM-Au8 in Amyotrophic Lateral Sclerosis and CNM-Au8-MS. The company achieved their primary and secondary endpoints in the Phase 3 clinical trial for ALS and expect to release topline data from the Phase 2b clinical trial for MS in the second half of 2025. The potential approval and commercialization of CNM-Au8 could offer a new treatment option for individuals living with neurodegenerative diseases, improving their quality of life and potentially extending their lifespan. Furthermore, the success of Clene’s work could encourage further research and investment in the field, leading to more breakthroughs and advancements in the treatment of neurodegenerative diseases, ultimately benefiting millions of people worldwide.
