Clene Inc
For the period ended Sep 30, 2024. Filed Nov 13, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 13, 2024
CLNN$4.41+0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except share and per share amounts)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue: | ||||
| Product revenue | $65 | $65 | $173 | $355 |
| Royalty revenue | 22 | 43 | 78 | 129 |
| Total revenue | 87 | 108 | 251 | 484 |
| Operating expenses: | ||||
| Cost of revenue | 18 | 12 | 52 | 83 |
| Research and development | 4,471 | 5,972 | 14,490 | 19,982 |
| General and administrative | 3,413 | 3,666 | 10,147 | 11,029 |
| Total operating expenses | 7,902 | 9,650 | 24,689 | 31,094 |
| Loss from operations | (7,815) | (9,542) | (24,438) | (30,610) |
| Other income (expense), net: | ||||
| Interest income | 127 | 546 | 755 | 931 |
| Interest expense | (1,022) | (1,188) | (3,548) | (3,358) |
| Commitment share expense | — | — | — | (402) |
| Issuance costs for common stock warrant liabilities | — | — | — | (333) |
| Loss on initial issuance of equity | — | — | — | (14,840) |
| Change in fair value of common stock warrant liabilities | 697 | 6,341 | 956 | 5,958 |
| Change in fair value of Clene Nanomedicine contingent earn-out liability | — | 1,004 | 75 | 2,114 |
| Change in fair value of Initial Stockholders contingent earn-out liability | — | 129 | 10 | 272 |
| Research and development tax credits and unrestricted grants | 27 | 247 | 339 | 902 |
| Other income, net | — | 45 | — | 35 |
| Total other income (expense), net | (171) | 7,124 | (1,413) | (8,721) |
| Net loss before income taxes | (7,986) | (2,418) | (25,851) | (39,331) |
| Income tax expense | — | — | — | — |
| Net loss | (7,986) | (2,418) | (25,851) | (39,331) |
| Other comprehensive income (loss): | ||||
| Unrealized gain (loss) on available-for-sale securities | 1 | (4) | (1) | 16 |
| Foreign currency translation adjustments | 52 | (81) | 25 | (130) |
| Total other comprehensive income (loss) | 53 | (85) | 24 | (114) |
| Comprehensive loss | $(7,933) | $(2,503) | $(25,827) | $(39,445) |
| Net loss per share – basic and diluted | $(1.22) | $(0.38) | $(4.00) | $(8.11) |
| Weighted average common shares used to compute basic and diluted net loss per share | 6,557,839 | 6,420,274 | 6,467,771 | 4,851,348 |
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