Curated News
By: NewsRamp Editorial Staff
October 01, 2024

Late-Stage Biopharmaceutical Company Clene (NASDAQ: CLNN) Enters Securities Purchase Agreement

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Source News Release

TLDR

  • Clene (NASDAQ: CLNN) has entered a securities purchase agreement, raising an estimated $7.3 million, providing a financial advantage.
  • Clene will issue and sell 742,626 shares of common stock to a healthcare-focused institutional investor, with Canaccord Genuity acting as placement agent.
  • Clene's focus on improving mitochondrial health and treating neurodegenerative diseases could lead to life-changing therapies for patients in the future.
  • Clene's CNM-Au8(R) therapy targets mitochondrial function and the NAD pathway, offering a promising new approach to treating neurodegenerative diseases.

Impact - Why it Matters

This news is important because it highlights a significant financial transaction for Clene Inc., a company dedicated to developing innovative therapies for neurodegenerative diseases. The agreement will provide the company with substantial gross proceeds, furthering its mission of improving mitochondrial health and protecting neuronal function.

Summary

Clene (NASDAQ: CLNN), a late clinical-stage biopharmaceutical company, has entered into a securities purchase agreement with a healthcare-focused institutional investor. The agreement calls for the issue and sale of 742,626 shares of common stock, with gross proceeds totaling an estimated $7.3 million. Canaccord Genuity is acting as sole placement agent for the offerings, expected to close on or about Oct. 1, 2024.

Clene Inc. is focused on improving mitochondrial health and protecting neuronal function to treat neurodegenerative diseases, including amyotrophic lateral sclerosis, Parkinson’s disease, and multiple sclerosis. The company's investigational therapy, CNM-Au8(R), targets mitochondrial function and the NAD pathway while reducing oxidative stress.

Source Statement

This curated news summary relied on this press release disributed by InvestorBrandNetwork (IBN). Read the source press release here, Late-Stage Biopharmaceutical Company Clene (NASDAQ: CLNN) Enters Securities Purchase Agreement

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