Quarterly ResultMay 14, 2026, 07:57 AM
Clene Inc. Q1 Net Loss Widens to $8.1M; Raises Going Concern Doubt
AI Summary
Clene Inc. reported a significant widening of its net loss to $8.1 million for the first quarter of 2026, compared to a $0.8 million loss in the same period last year. Total revenue also saw a sharp decline to $15 thousand from $81 thousand year-over-year. The company explicitly stated that these conditions raise substantial doubt about its ability to continue as a going concern, despite having raised $6.0 million in gross proceeds from an equity offering during the quarter and an additional $7.0 million subsequent to quarter-end.
Key Highlights
- Net loss widened to $8.1 million in Q1 2026 from $0.8 million in Q1 2025.
- Total revenue decreased to $15 thousand in Q1 2026 from $81 thousand in Q1 2025.
- Company expressed substantial doubt about its ability to continue as a going concern.
- Net cash used in operating activities was $4.5 million for the quarter.
- Raised $6.0 million gross from equity offering during Q1 2026.
- Raised $7.0 million gross from equity offering subsequent to Q1 2026.
- Accumulated deficit reached $316.4 million as of March 31, 2026.
- Cash and cash equivalents were $5.9 million as of March 31, 2026.