Clene Improves Cash Position and Runway by Securing New Debt Facility to Pay Off Existing Senior Loan
Clene Inc. (CLNN)
Company Research
Source: GlobeNewswire
Secures new $10.0 million debt facility to replace remaining $7.85 million of Avenue Capital debt Improves cash position enabling Clene to generate the additional data to support the new drug application of CNM-Au8® for ALS via an accelerated regulatory pathwayCarries a 12% interest rate per annum and is secured by all assets of CleneIncludes conversion feature on 65% of the new debt facility at a fixed conversion price of $5.67, a 130% premium to Clene’s closing stock price on the day of signing SALT LAKE CITY, Dec. 19, 2024 (GLOBE NEWSWIRE) -- Clene Inc. (Nasdaq: CLNN) (along with its subsidiaries, “Clene”) and its wholly owned subsidiary Clene Nanomedicine Inc., a late clinical-stage biopharmaceutical company focused on revolutionizing the treatment of neurodegenerative diseases, including amyotrophic lateral sclerosis (“ALS”) and multiple sclerosis (“MS”), today announced that it signed a new debt facility (“Note”) with three entities, all of which are affiliated with Clene,
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CLNN
News
- Clene Inc. (NASDAQ: CLNN) had its "buy" rating re-affirmed by analysts at D. Boral Capital. They now have a $23.00 price target on the stock.MarketBeat
- Clene Improves Cash Position and Runway by Securing New Debt Facility to Pay Off Existing Senior Loan [Yahoo! Finance]Yahoo! Finance
- IBN Coverage: Clene (NASDAQ: CLNN) Advances CNM-Au8 in ALS With FDA Guidance on Accelerated Approval Pathway [Yahoo! Finance]Yahoo! Finance
- Clene Inc. (NASDAQ: CLNN) had its "buy" rating re-affirmed by analysts at D. Boral Capital. They now have a $23.00 price target on the stock.MarketBeat
- FDA Provides Roadmap for Accelerated Approval Pathway Through Submission of Additional CNM-Au8® Biomarker Data in ALS [Yahoo! Finance]Yahoo! Finance
CLNN
Earnings
- 11/13/24 - Beat
CLNN
Sec Filings
- 12/20/24 - Form 8-K
- 12/10/24 - Form 424B5
- 12/10/24 - Form 8-K
- CLNN's page on the SEC website