Start here if you're new
what it is
Clene is trying to turn one nanocrystal drug platform into treatments for ALS, MS, and Parkinson's.
how it gets paid
Last year Clene made $342K in revenue. ALS-related program revenue was the main engine at $137K, or 40% of sales.
what just happened
The quarter showed $123K in revenue, which is the real story because Clene is still operating with almost no commercial base.
At a glance
C+ balance sheet — struggling to keep the lights on
-$5.67 fy2024 eps est
$0M fy2024 rev est
n/a operating margin
0.9 beta
xvary composite: 17/100 — weak
What they do
Clene is trying to turn one nanocrystal drug platform into treatments for ALS, MS, and Parkinson's.
Clene has 75 employees and one patented electro-crystal-chemistry platform feeding programs in ALS, MS, and Parkinson's. That is tiny for drug development, which means your bet is focus, not scale. If one platform works across three diseases, your upside can outrun a $62 million market cap.
How they make money
$342K
annual revenue
ALS-related program revenue
$137K
MS-related program revenue
$82K
Parkinson's-related program revenue
$48K
Dietary supplement activity
$41K
Other development revenue
$34K
The products that matter
gold nanocrystal therapeutic candidate
CNM-Au8
single advanced asset · tied to ~$62M equity value
this one asset carries the whole roughly $62M story. if CNM-Au8 moves closer to approval, the stock has something to underwrite. if it doesn't, $0M expected revenue leaves very little underneath it.
single-asset thesis
Key numbers
-$5.67
fy2024 eps est
$0M
fy2024 rev est
n/a
trailing p/e
n/a
dividend yield
Financial health
C+
strength
- balance sheet grade C+ — weak — may struggle to fund operations
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $19M (24% of capital)
C+ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for CLNN right now.
source: institutional data · return history unavailable
What just happened
missed estimates
The quarter showed $123K in revenue, which is the real story because Clene is still operating with almost no commercial base.
Quarterly EPS in the source data was -$1.59 for 12/31/24, versus -$0.20 in the prior-year quarter. Annual EPS improved to -$5.67 in 2024 from -$9.40 in 2023, but that still leaves the company deep in the red.
$123K
revenue
$1.59
quarterly eps
n/a
operating margin
the number that mattered
$123K of quarterly revenue matters most because it shows the business side is still tiny while investors wait on clinical progress.
source: company earnings report, 2026
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
the #1 risk is financing the company before CNM-Au8 reaches a real approval path.
med
cash runway pressure
The current snapshot points to runway only into 2026. Whether the internal target is Q2 or Q4, the message is the same: CLNN likely needs more capital before it has a commercial product.
With $0M expected revenue, new cash probably comes from dilution, debt, or both.
med
single-asset dependency
CNM-Au8 is the whole thesis. The company does not have a diversified revenue base or a portfolio of approved products to absorb disappointment.
A failed clinical or regulatory outcome can take a roughly $62M equity story and compress it fast.
med
capital structure gets tighter from here
Long-term debt is already $19M, or 24% of capital. That is meaningful for a company this size, especially when earnings are negative and revenue rounds to zero.
The science can improve while your ownership still gets diluted.
With $0M expected revenue and $19M of long-term debt, almost 100% of the equity story rests on clinical progress and another source of cash.
source: institutional data · regulatory filings · risk analysis
Pay attention to
catalyst
fda type c meeting
Management has said this should happen by the end of Q1 2026. The outcome shapes the next regulatory path for CNM-Au8.
funding
cash runway language
The current page references runway only into 2026. The exact quarter matters less than whether management can extend it without punishing dilution.
earnings
next loss forecast
Q1 2026 is modeled at -$0.45 per share. If losses stay worse than expected, financing pressure arrives faster.
tape
volatility inside the thesis
A stock down 45% and trading inside a $2–$14 range can move hard on small updates. That is what single-asset biotech trading looks like.
Analyst rankings
risk profile
high risk
risk rank 5 — significant risk of large drawdowns.
chart momentum
bottom 5%
momentum rank 5 — the lowest rating — significant underperformance expected.
source: institutional data
Institutional activity
institutional ownership data for CLNN is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$6
current price
n/a
target midpoint · n/a from current
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive