CLNN on Nasdaq
Clene Inc.
American pharmaceutical preparations company based in Salt Lake City.
Price unavailable
Last updated Oct 18, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Product brought in 60% of the revenue Clene Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Product | $237.0K | $119.0K |
| Royalty | $105.0K | $81.0K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue0¢$43.0K
- Research and development100¢$14.0M
Out of $200.0K in revenue.3 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Total revenue | $200.0K | $342.0K |
| Cost of revenue | $43.0K | $70.0K |
| Research and development | $14.0M | $20.1M |
| General and administrative | $9.2M | $13.3M |
| Total operating expenses | $23.3M | $33.4M |
| Loss from operations | -$23.1M | -$33.1M |
| Interest income | $223.0K | $865.0K |
| Interest expense | -$2.7M | -$4.1M |
| Loss on extinguishment of notes payable | $0 | -$214.0K |
| Issuance costs for common stock warrant liabilities | $0 | -$157.0K |
| Loss on initial issuance of equity | $0 | -$2.1M |
| Change in fair value of common stock warrant liabilities | -$522.0K | -$702.0K |
| Change in fair value of derivative liabilities | -$363.0K | -$379.0K |
| Change in fair value of Clene Nanomedicine contingent earn-out liability | $0 | $75.0K |
| Change in fair value of Initial Stockholders contingent earn-out liability | $0 | $10.0K |
| Research and development tax credits and unrestricted grants | $254.0K | $357.0K |
| Other expense, net | $0 | -$1.0K |
| Total other income (expense), net | -$3.1M | -$6.3M |
| Net loss before income taxes | -$26.2M | -$39.4M |
| Income tax expense | $0 | $0 |
| Net loss | -$26.2M | -$39.4M |
| Unrealized loss on available-for-sale securities | $0 | -$1.0K |
| Foreign currency translation adjustments | $101.0K | -$127.0K |
| Total other comprehensive income (loss) | $101.0K | -$128.0K |
| Comprehensive loss | -$26.1M | -$39.5M |
| Net loss per share basic and diluted (in dollars per share) | -$2.65 | -$5.67 |
| Weighted average common shares used to compute basic and diluted net loss per share (in shares) | 9.9M shares | 7.0M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2020-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $5.2M | $12.2M | ||
| Accounts receivable | $0 | $64.0K | ||
| Inventory | $37.0K | $68.0K | ||
| Prepaid expenses and other current assets | $3.8M | $3.9M | ||
| Total current assets | $9.0M | $16.2M | ||
| Restricted cash | $58.0K | $58.0K | ||
| Operating lease right-of-use assets | $3.1M | $3.6M | ||
| Property and equipment, net | $6.0M | $7.5M | ||
| TOTAL ASSETS | $18.1M | $27.3M | ||
| Accounts payable | $892.0K | $1.2M | ||
| Accrued liabilities | $5.0M | $7.8M | ||
| Operating lease obligations, current portion | $808.0K | $926.0K | ||
| Notes payable, current portion | $1.7M | $359.0K | ||
| Convertible notes payable, current portion | $2.4M | $0 | ||
| Total current liabilities | $10.8M | $10.3M | ||
| Operating lease obligations, net of current portion | $3.2M | $4.1M | ||
| Notes payable, net of current portion | $3.7M | $4.6M | ||
| Convertible notes payable | $9.8M | $10.8M | ||
| TOTAL LIABILITIES | $35.7M | $36.2M | ||
| Common stock, $0.0001 par value: 600,000,000 shares authorized; 10,849,974 and 8,089,565 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | $1.0K | $1.0K | ||
| Additional paid-in capital | $290.5M | $273.2M | ||
| Accumulated deficit | -$308.3M | -$282.1M | ||
| Accumulated other comprehensive income | $172.0K | $71.0K | ||
| TOTAL STOCKHOLDERS DEFICIT | -$17.6M | -$8.9M | $13.4M | |
| TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT | $18.1M | $27.3M | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 600.0M shares | 600.0M shares | ||
| Common stock, shares issued (in shares) | 10.8M shares | 8.1M shares | ||
| Common stock, shares outstanding (in shares) | 10.8M shares | 8.1M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2020-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $5.2M | $12.2M | ||
| Accounts receivable | $0 | $64.0K | ||
| Inventory | $37.0K | $68.0K | ||
| Prepaid expenses and other current assets | $3.8M | $3.9M | ||
| Total current assets | $9.0M | $16.2M | ||
| Restricted cash | $58.0K | $58.0K | ||
| Operating lease right-of-use assets | $3.1M | $3.6M | ||
| Property and equipment, net | $6.0M | $7.5M | ||
| TOTAL ASSETS | $18.1M | $27.3M | ||
| Accounts payable | $892.0K | $1.2M | ||
| Accrued liabilities | $5.0M | $7.8M | ||
| Operating lease obligations, current portion | $808.0K | $926.0K | ||
| Notes payable, current portion | $1.7M | $359.0K | ||
| Convertible notes payable, current portion | $2.4M | $0 | ||
| Total current liabilities | $10.8M | $10.3M | ||
| Operating lease obligations, net of current portion | $3.2M | $4.1M | ||
| Notes payable, net of current portion | $3.7M | $4.6M | ||
| Convertible notes payable | $9.8M | $10.8M | ||
| TOTAL LIABILITIES | $35.7M | $36.2M | ||
| Common stock, $0.0001 par value: 600,000,000 shares authorized; 10,849,974 and 8,089,565 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | $1.0K | $1.0K | ||
| Additional paid-in capital | $290.5M | $273.2M | ||
| Accumulated deficit | -$308.3M | -$282.1M | ||
| Accumulated other comprehensive income | $172.0K | $71.0K | ||
| TOTAL STOCKHOLDERS DEFICIT | -$17.6M | -$8.9M | $13.4M | |
| TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT | $18.1M | $27.3M | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 600.0M shares | 600.0M shares | ||
| Common stock, shares issued (in shares) | 10.8M shares | 8.1M shares | ||
| Common stock, shares outstanding (in shares) | 10.8M shares | 8.1M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$26.2M | -$39.4M |
| Depreciation | $1.5M | $1.6M |
| Non-cash lease expense | $571.0K | $524.0K |
| Issuance costs for common stock warrant liabilities | $0 | $157.0K |
| Loss on initial issuance of equity | $0 | $2.1M |
| Issuance of common stock as payment of outstanding indebtedness | $8.0K | $0 |
| Change in fair value of common stock warrant liabilities | $522.0K | $702.0K |
| Change in fair value of derivative liabilities | $363.0K | $379.0K |
| Change in fair value of Clene Nanomedicine contingent earn-out liability | $0 | -$75.0K |
| Change in fair value of Initial Stockholders contingent earn-out liability | $0 | -$10.0K |
| Stock-based compensation expense | $6.4M | $8.0M |
| Loss on extinguishment of notes payable | $0 | $214.0K |
| Loss on disposal of property and equipment | $0 | $154.0K |
| Accretion of debt discount | $1.0M | $1.1M |
| Non-cash interest income on marketable securities | $0 | -$153.0K |
| Non-cash interest expense on notes payable | $612.0K | $136.0K |
| Accounts receivable | $64.0K | $79.0K |
| Inventory | $31.0K | -$31.0K |
| Prepaid expenses and other current assets | $119.0K | -$198.0K |
| Accounts payable | -$348.0K | -$264.0K |
| Accrued liabilities | -$2.2M | $4.0M |
| Operating lease obligations | -$1.0M | -$421.0K |
| Net cash used in operating activities | -$18.5M | -$21.3M |
| Purchases of marketable securities | $0 | -$6.2M |
| Proceeds from maturities of marketable securities | $0 | $12.5M |
| Purchases of property and equipment | -$39.0K | -$15.0K |
| Net cash provided by (used in) investing activities | -$39.0K | $6.3M |
| Proceeds from exercise of stock options | $0 | $124.0K |
| Proceeds from issuance of common stock, warrants, and pre-funded warrants, net of offering costs | $10.4M | $9.2M |
| Proceeds from the issuance of debt and derivative liabilities | $1.5M | $9.9M |
| Payments of notes payable | -$384.0K | -$20.8M |
| Payments of finance lease obligations | $0 | -$27.0K |
| Net cash provided by (used in) financing activities | $11.5M | -$1.5M |
| Net decrease in cash, cash equivalents and restricted cash | -$7.0M | -$16.7M |
| Effect of foreign exchange rate changes on cash and restricted cash | $101.0K | -$127.0K |
| Derivative liability recorded upon debt modification | $687.0K | $67.0K |
| Derivative liability recorded upon debt issuance | $239.0K | $0 |
| Common stock warrant liability recorded upon public stock offering | $0 | $2.3M |
| Cash paid for interest expense | $1.0M | $2.6M |
No quarter-by-quarter statement was filed.
Leadership
Who has led Clene Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
2025
- Chief executive officerRobert Dee Etherington Jan 4, 2021 to now11
- PresidentRobert Dee Etherington Sep 19, 2025 to now12
- Chief financial officerMorgan R. Brown Feb 3, 2022 to now13
Board members and other officers (13)
- Chief Science OfficerMark Mortenson Jan 4, 2021 to now14
- Chief Medical OfficerRobert Glanzman Jan 4, 2021 to May 18, 202215
- Chief Finance OfficerTae Heum Jeong Jan 4, 2021 to Nov 4, 202116
- Board memberMatthew Kiernan Sep 19, 2023 to now17
- Board memberChidozie Ugwumba Jan 4, 2021 to Feb 13, 202318
- Board memberDavid J. Matlin Jan 4, 2021 to now19
- Board memberJonathon Gay Jan 4, 2021 to now20
- Board memberRobert Dee Etherington Jan 4, 2021 to now11
- Board memberShalom Jacobovitz Jan 4, 2021 to now21
- Board memberAlison Mosca Jan 8, 2021 to now22
- Board memberReed N. Wilcox Jan 8, 2021 to now23
- Board memberFiona Costello Jan 28, 2021 to May 27, 202124
- Board memberVallerie McLaughlin Aug 5, 2021 to now25
Former names
- Chelsea Worldwide Inc.Sep 10, 2020 to Dec 18, 20202
Timeline
- Jan 4, 2021New chief executive Robert Dee Etherington becomes CEO11
Filings
549 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 109 major events, 287 insider forms, 33 large holders, 1 private raises, 99 other. The latest 20:
- Oct 13, 2026SCHEDULE 13G/A EDGAR
- Sep 18, 20264 EDGAR
- Sep 18, 20264 EDGAR
- Sep 18, 20264 EDGAR
- Sep 16, 20268-K EDGAR
- Sep 16, 2026424B5 EDGAR
- Aug 14, 20264 EDGAR
- Aug 14, 20264 EDGAR
- Aug 14, 20264 EDGAR
- Aug 14, 20264 EDGAR
- Aug 14, 20264 EDGAR
- Aug 14, 20264 EDGAR
- Aug 14, 20264 EDGAR
- Aug 14, 20264 EDGAR
- Aug 14, 20268-K EDGAR
- Aug 14, 202610-Q EDGAR
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 11, 2026SCHEDULE 13G/A EDGAR
- Aug 10, 20268-K EDGAR
- Aug 6, 20264 PRIMARY DOCUMENT EDGAR
The 549 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 33 such filings since October 2021, the latest 10:
- Oct 13, 2026SCHEDULE 13G/A
- Aug 14, 2026SCHEDULE 13G/A
- Aug 11, 2026SCHEDULE 13G/A
- Aug 4, 2026SCHEDULE 13G
- May 15, 2026SCHEDULE 13G/A
- May 14, 2026SCHEDULE 13G/A
- May 14, 2026SCHEDULE 13G/A
- May 12, 2026SCHEDULE 13G/A
- Nov 13, 2025SCHEDULE 13G/A
- Feb 14, 2025SCHEDULE 13G/A
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Money raised
Private offerings the company reported to the SEC on Form D.
- Oct 1, 2024Raised $7.3 million in a private offering of equity Form D: 13 investors so far Form D
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 33. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARClene Inc. filings on SEC EDGAR
- 2SEC EDGARClene Inc. filings on SEC EDGAR
- 3SEC EDGARClene Inc. 10-K for fiscal 2025
- 4SEC EDGARClene Inc. 10-K for fiscal 2020
- 5SEC EDGARClene Inc. 10-K for fiscal 2021
- 6SEC EDGARClene Inc. 10-K for fiscal 2022
- 7SEC EDGARClene Inc. 10-K for fiscal 2023
- 8SEC EDGARClene Inc. 10-K for fiscal 2019
- 9SEC EDGARClene Inc. 10-Q for fiscal 2026
- 10SEC EDGARClene Inc. 10-Q for fiscal 2026
- 11
- 12SEC EDGARRobert Dee Etherington, President
- 13
- 14
- 15
- 16
- 17SEC EDGARMatthew Kiernan, Board member
- 18SEC EDGARChidozie Ugwumba, Board member
- 19SEC EDGARDavid J. Matlin, Board member
- 20SEC EDGARJonathon Gay, Board member
- 21SEC EDGARShalom Jacobovitz, Board member
- 22SEC EDGARAlison Mosca, Board member
- 23SEC EDGARReed N. Wilcox, Board member
- 24SEC EDGARFiona Costello, Board member
- 25SEC EDGARVallerie McLaughlin, Board member