Clene Inc.
For the period ended Dec 31, 2024. Filed Mar 24, 2025.
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FY2024 · Filed Mar 24, 2025
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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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Year Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net loss | $(39,400) | $(49,504) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 1,645 | 1,705 |
| Non-cash lease expense | 524 | 434 |
| Commitment share expense | — | 402 |
| Issuance costs for common stock warrant liabilities | 157 | 333 |
| Loss on initial issuance of equity | 2,097 | 14,840 |
| Change in fair value of common stock warrant liabilities | 702 | (6,337) |
| Change in fair value of derivative liabilities | 379 | — |
| Change in fair value of Clene Nanomedicine contingent earn-out liability | (75) | (2,189) |
| Change in fair value of Initial Stockholders contingent earn-out liability | (10) | (281) |
| Stock-based compensation expense | 7,953 | 9,117 |
| Loss on extinguishment of notes payable | 214 | — |
| Loss on disposal of property and equipment | 154 | — |
| Accretion of debt discount | 1,140 | 1,150 |
| Non-cash interest income on marketable securities | (153) | — |
| Non-cash interest expense on notes payable | 136 | 350 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 79 | 46 |
| Inventory | (31) | 6 |
| Prepaid expenses and other current assets | (198) | 1,976 |
| Accounts payable | (264) | (1,510) |
| Accrued liabilities | 4,046 | (143) |
| Operating lease obligations | (421) | (566) |
| Net cash used in operating activities | (21,326) | (30,171) |
| Cash flows from investing activities: | ||
| Purchases of marketable securities | (6,169) | (6,169) |
| Proceeds from maturities of marketable securities | 12,500 | 5,000 |
| Purchases of property and equipment | (15) | (330) |
| Net cash provided by (used in) investing activities | 6,316 | (1,499) |
| Cash flows from financing activities: | ||
| Proceeds from exercise of stock options | 124 | — |
| Proceeds from issuance of common stock, warrants, and pre-funded warrants, net of offering costs | 9,243 | 42,094 |
| Proceeds from the issuance of debt and derivative liabilities | 9,924 | 350 |
| Payments of finance lease obligations | (27) | (81) |
| Payments of notes payable | (20,793) | — |
| Payments of notes payable modification fees | — | (200) |
| Net cash provided by (used in) financing activities | (1,529) | 42,163 |
| Effect of foreign exchange rate changes on cash and restricted cash | (127) | (4) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (16,666) | 10,489 |
| Cash, cash equivalents and restricted cash – beginning of period | 28,879 | 18,390 |
| Cash, cash equivalents and restricted cash – end of period | $12,213 | $28,879 |
| Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets | ||
| Cash and cash equivalents | $12,155 | $28,821 |
| Restricted cash | 58 | 58 |
| Cash, cash equivalents and restricted cash | $12,213 | $28,879 |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Common stock warrant liability recorded upon debt modification | $67 | $692 |
| Common stock warrant liability recorded upon public stock offering | $2,291 | $7,126 |
| Supplemental cash flow information: | ||
| Cash paid for interest expense | $2,613 | $3,059 |
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