Wall Street closes at a record for the first time since end of January
Ugwumba Chidozie, a ten percent owner of Clene Inc. (NASDAQ:CLNN), sold 24,925 shares of common stock on April 2, 2026, according to a Form 4 filing with the Securities and Exchange Commission. The shares were sold at a price of $4.81, totaling $119,889. The stock has since risen to $5.76, though InvestingPro data shows shares remain down 44% over the past six months despite posting a 114% gain over the last year.
Following the transaction, Ugwumba directly owns 401,891 shares of Clene Inc., held By SymBiosis II, LLC. The company carries a "WEAK" financial health rating from InvestingPro, with analysts not anticipating profitability this year.
In other recent news, Clene Inc. has announced significant developments related to its investigational ALS treatment, CNM-Au8. The U.S. Food and Drug Administration has granted Clene an in-person Type C meeting to discuss biomarker data for this drug. The meeting will focus on new analyses indicating that reductions in neurofilament light chain levels, a biomarker of neuronal damage, may correlate with lower mortality risk in ALS patients. This data could potentially support the use of neurofilament light chain reduction as a surrogate endpoint for accelerated approval of the treatment.
Additionally, Clene has secured a registered direct offering of over $28 million to support CNM-Au8. This financing includes participation from firms such as Boxer Capital, Coastlands Capital, and Vivo Capital, as well as current insider investors. The initial tranche of more than $6 million is anticipated to fund the company’s operations into the third quarter of 2026. This financial backing may cover the FDA’s decision on the New Drug Application acceptance for CNM-Au8.
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