NetworkNewsBreaks – Clene Inc. (NASDAQ: CLNN) Cl
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Posted On: 10/02/2024 5:13:39 PM
NetworkNewsBreaks – Clene Inc. (NASDAQ: CLNN) Closes on Direct Offering, Concurrent Private Placements Totaling $7.3M
Clene (NASDAQ: CLNN), a late clinical-stage biopharmaceutical company focused on improving mitochondrial health and protecting neuronal function to treat neurodegenerative diseases, and its wholly owned subsidiary, Clene Nanomedicine Inc., has closed on a registered direct offering and concurrent private placements. According to the announcement, the transactions consist of common stock and warrants and were with a healthcare-focused institutional investor and existing shareholders, including insiders. Gross proceeds of the offerings and placements totaled an estimated $7.3 million with the potential for additional capital through the future exercise of warrants. Clene also announced the amendment of its existing debt facility with Avenue Venture Opportunities Fund, L.P.
“We are appreciative for the support of both our new healthcare-focused institutional investor as well as existing shareholders, including insiders,” said Clene board chair David Matlin in the press release. “The capital raised in this offering along with the debt principal deferral from Avenue will allow the company to fund itself while in discussions with the FDA to potentially file an NDA under the accelerated approval pathway by year end. Most importantly, this financing also enables people with ALS who currently take CMN-Au8 under our compassionate use programs to continue receiving drug while Clene discusses its data with the FDA.”
NOTE TO INVESTORS: The latest news and updates relating to CLNN are available in the company’s newsroom at https://ibn.fm/CLNN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
Clene (NASDAQ: CLNN), a late clinical-stage biopharmaceutical company focused on improving mitochondrial health and protecting neuronal function to treat neurodegenerative diseases, and its wholly owned subsidiary, Clene Nanomedicine Inc., has closed on a registered direct offering and concurrent private placements. According to the announcement, the transactions consist of common stock and warrants and were with a healthcare-focused institutional investor and existing shareholders, including insiders. Gross proceeds of the offerings and placements totaled an estimated $7.3 million with the potential for additional capital through the future exercise of warrants. Clene also announced the amendment of its existing debt facility with Avenue Venture Opportunities Fund, L.P.
“We are appreciative for the support of both our new healthcare-focused institutional investor as well as existing shareholders, including insiders,” said Clene board chair David Matlin in the press release. “The capital raised in this offering along with the debt principal deferral from Avenue will allow the company to fund itself while in discussions with the FDA to potentially file an NDA under the accelerated approval pathway by year end. Most importantly, this financing also enables people with ALS who currently take CMN-Au8 under our compassionate use programs to continue receiving drug while Clene discusses its data with the FDA.”
NOTE TO INVESTORS: The latest news and updates relating to CLNN are available in the company’s newsroom at https://ibn.fm/CLNN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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