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Clene Inc. (CLNN) stock

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NASDAQ: CLNN Nasdaq Biotechnology Next results ~November 12, 2026

E Fundamentals grade

Clene Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: every model's value for Clene Inc. is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.

Price vs value

Under review: free cash flow after stock pay is not positive. We'll show the comparison once resolved.

Clene Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 1 selling1 purchase and 62 sales by directors and officers, last 12 monthsInsider trades
  • Funds17 adding, 6 cuttingOf 1 active managers that changed their stake, 1 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Clene files

Where Clene stands after its latest 10-Q

Clene has little or no product revenue yet; it used $16m of cash in the twelve months to June 2026. The diluted share count is up 35.4% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades E. It passes 1 of our 5 financial-health checks.

Our model value for Clene is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 14, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 12, 2026 (estimated)

Clene Inc.'s trailing-twelve-month revenue fell 31.1% year on year, with a free-cash-flow margin of -8074.6%. Where it stands out: change in growth rate of +30.6pp ranks 32 of 172 biotechnology companies we cover. Where it lags: long-term debt as % of assets of 76.4% ranks 77 of 78 biotechnology companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 9.8% while net income fell 33.0%: a 43pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in Clene Inc.'s latest figures clears our strength thresholds.

Things to watch

  • Results due soon. Results are expected around 12 November; the share price can move sharply on the day.
  • Revenue shrinking. Revenue fell 31.1% over the last 12 months.
  • Loss-making. Operating margin is -10432.0%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 1197.7 points on a year ago.
  • Burning cash. Free cash flow was -8074.6% of revenue over the last 12 months.
  • Heavy stock-based pay. Stock pay equals 2751.3% of revenue, against a median of 19.2% for biotechnology companies we cover: a real cost that cash-flow figures leave out.

Latest results: FY2026 Q2

Filed August 14, 2026
Earnings per share
-$0.48 against an average estimate of -$0.26: missed by 86.0%
Revenue
$0m, up 233.3% on a year earlier
Share reaction
+0.2% in the first session after the results on August 14, 2026, against -0.7% for the S&P 500

Clene's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-5.7%
  • 1 week-6.0%
  • 1 month-11.5%
  • This year-38.5%
  • 1 year-71.1%
  • 5 years-96.2%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$197,000
Operating margin
-10432.0%
Net margin
-20059.9%
EPS (TTM, diluted)
$-3.50

Growth

Revenue growth
−31.1%
Change in growth rate
+30.6 pts
Share count change
+35.4%

Cash

Free cash flow (TTM)
-$15.9M
FCF margin
-8074.6%
Stock pay % of revenue
2751.3%

Earnings

Last results
August 14, 2026
Next results (est.)
November 12, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Agreement
  2. Announcement
  3. Agreement
  4. Results
  5. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Clene Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: free cash flow after stock pay is not positive.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Clene Inc. as an operating company, with every model that fits that kind of business. Cost of equity 11%: the 10-year Treasury yield (4.9%) plus a beta of 1.35 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: This model is withheld pending its input or assumption review.
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: This model is withheld pending its input or assumption review.
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$0.0 ~$0.0–$0.1 Left out: out of range vs price (0.01x)
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Clene Inc. with Biotechnology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 202020212022202320242025Now
Share price$216.40$82.00$20.00$6.00$5.31$5.87$3.61
Market value$189m$252m$65m$31m$37m$58m$41m
+ Net debt (− = net cash)−$51m−$36m−$2m−$4m−$980000$13m$9m
Enterprise value$138m$217m$63m$27m$36m$70m$50m
Multiples
Price / sales n/mn/m137.9x48.1x108.0xn/mn/m
Price / earnings ———————
Price / free cash flow ———————
EV / EBITDA ———————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

12 /100

Weak moat

How hard Clene's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -73.8% of total assets over 6 years.

  • Durability 10 / 20

    Operating margin has been a median -8700.3%; its worst year was -13753.7%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 6 years, at a median -6192.7% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (17 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$2.62 −2% $249400 +25%
Next −$2.44 +7% $23m +9229%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +86.5% on 90 days ago. In the last 30 days, 0 analysts raised Clene Inc.'s forecast and 2 cut it.

Consensus EPS forecast Clene Inc., last 90 days
−$3.00 −$2.00 −$1.00 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$1.41 Current fiscal year, 60 days ago: −$1.41 Current fiscal year, 30 days ago: −$1.41 Current fiscal year, 7 days ago: −$1.41 Current fiscal year, Now: −$2.62 −$2.62 Next fiscal year, 90 days ago: −$1.43 Next fiscal year, 60 days ago: −$1.79 Next fiscal year, 30 days ago: −$1.79 Next fiscal year, 7 days ago: −$1.79 Next fiscal year, Now: −$2.44 −$2.44

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$1.41−$1.43
60 days ago −$1.41−$1.79
30 days ago −$1.41−$1.79
7 days ago −$1.41−$1.79
Now −$2.62−$2.44

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.26 −$0.48 −86.0%
Mar 2026 −$0.70 −$0.24 +65.8%
Dec 2025 −$0.42 −$0.78 −85.4%
Sept 2025 −$0.56 −$0.61 −8.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 14, 2026

No numeric guidance in Clene Inc.'s latest earnings release (filed August 14, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

5 analysts, Oct 2026
Buy5100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026145
  2. Sep 2026145

Counts of recommendations published by analysts covering Clene Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
3.9%
of tradable shares
Days to cover
3.45
at average volume
Short interest, 1 month
−54%
to October 15, 2026
Held by institutions
21%
of shares
Held by insiders
16.5%
of shares
Employees
76
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −71.1%

$12.50 on October 31, 2025 to $3.61

ThenNowEffect
Revenue (last 12 months) $286000 $197000 −31.1%
P/S multiple n/m n/m −43.2%
Share count 8m 11m −26.1%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CLNN−62%−76%−70%−12%+11%−39%
Industry peers (median)−35%−56%−17%−29%−5%−26%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CLNN25%42%25%50%50%27%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CLNN−76%−81%−84%−63%−60%−62%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 18, 2018: 99% from February 16, 2021 to May 23, 2025. Getting back needed a 13655% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$3.10 – $11.98
From 52-week high
−69.9%
vs 50-day average
−8.3%
vs 200-day average
−30.2%
Volatility (1 year)
95%
Beta vs S&P 500
1.89

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±8.1%
After a week
5 up, 7 down
typical move ±12.8%
After a month
5 up, 7 down
typical move ±21.8%
Results releasedNext dayS&P 500 next day5 days21 days
August 14, 2026 +0.2% −0.7% +3.1% −4.1%
May 14, 2026 +9.8% −0.4% +4.8% −11.2%
March 12, 2026 +2.5% −2.1% +5.2% +16.1%
November 13, 2025 −9.5% −1.7% −6.9% −33.7%
October 14, 2025 +7.8% +0.3% +4.5% +14.1%
August 14, 2025 −0.8% −0.2% +46.3% +71.2%
May 7, 2025 −9.5% +1.1% −6.7% +49.1%
March 24, 2025 −16.4% +2.0% −25.6% −31.6%
November 13, 2024 −11.5% −0.6% −22.8% −6.6%
August 7, 2024 −25.0% +1.6% −15.6% +0.9%
May 8, 2024 0.0% +0.6% −2.6% −5.1%
March 13, 2024 −4.5% −0.4% −9.1% −18.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Clene Inc. in five measures

Fundamentals grade E
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Clene Inc.
$0 $200K $400K $600K $800K FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $718K Revenue (TTM), FY23 Q4: $654K Revenue (TTM), FY24 Q1: $620K Revenue (TTM), FY24 Q2: $442K Revenue (TTM), FY24 Q3: $421K Revenue (TTM), FY24 Q4: $342K Revenue (TTM), FY25 Q1: $350K Revenue (TTM), FY25 Q2: $286K Revenue (TTM), FY25 Q3: $214K Revenue (TTM), FY25 Q4: $200K Revenue (TTM), FY26 Q1: $134K Revenue (TTM), FY26 Q2: $197K $197K

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $718K
FY23 Q4 $654K
FY24 Q1 $620K
FY24 Q2 $442K
FY24 Q3 $421K
FY24 Q4 $342K
FY25 Q1 $350K
FY25 Q2 $286K
FY25 Q3 $214K
FY25 Q4 $200K
FY26 Q1 $134K
FY26 Q2 $197K
Revenue growth, TTM YoY Clene Inc.
-100% -50% 0% 50% 100% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 63.9% Revenue growth, TTM YoY, FY23 Q4: 38.3% Revenue growth, TTM YoY, FY24 Q1: 12.7% Revenue growth, TTM YoY, FY24 Q2: -43.6% Revenue growth, TTM YoY, FY24 Q3: -41.4% Revenue growth, TTM YoY, FY24 Q4: -47.7% Revenue growth, TTM YoY, FY25 Q1: -43.5% Revenue growth, TTM YoY, FY25 Q2: -35.3% Revenue growth, TTM YoY, FY25 Q3: -49.2% Revenue growth, TTM YoY, FY25 Q4: -41.5% Revenue growth, TTM YoY, FY26 Q1: -61.7% Revenue growth, TTM YoY, FY26 Q2: -31.1% -31.1%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 63.9%
FY23 Q4 38.3%
FY24 Q1 12.7%
FY24 Q2 -43.6%
FY24 Q3 -41.4%
FY24 Q4 -47.7%
FY25 Q1 -43.5%
FY25 Q2 -35.3%
FY25 Q3 -49.2%
FY25 Q4 -41.5%
FY26 Q1 -61.7%
FY26 Q2 -31.1%
Operating margin (TTM) Clene Inc.
-20000% -15000% -10000% -5000% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -5889.0% Operating margin (TTM), FY23 Q4: -6198.8% Operating margin (TTM), FY24 Q1: -6296.8% Operating margin (TTM), FY24 Q2: -8166.3% Operating margin (TTM), FY24 Q3: -8163.4% Operating margin (TTM), FY24 Q4: -9676.3% Operating margin (TTM), FY25 Q1: -7982.0% Operating margin (TTM), FY25 Q2: -9234.3% Operating margin (TTM), FY25 Q3: -11328.5% Operating margin (TTM), FY25 Q4: -11541.5% Operating margin (TTM), FY26 Q1: -15722.4% Operating margin (TTM), FY26 Q2: -10432.0% -10432.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -5889.0%
FY23 Q4 -6198.8%
FY24 Q1 -6296.8%
FY24 Q2 -8166.3%
FY24 Q3 -8163.4%
FY24 Q4 -9676.3%
FY25 Q1 -7982.0%
FY25 Q2 -9234.3%
FY25 Q3 -11328.5%
FY25 Q4 -11541.5%
FY26 Q1 -15722.4%
FY26 Q2 -10432.0%
FCF margin (TTM) Clene Inc.
-15000% -10000% -5000% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -4554.7% FCF margin (TTM), FY23 Q4: -4663.8% FCF margin (TTM), FY24 Q1: -4531.9% FCF margin (TTM), FY24 Q2: -6215.8% FCF margin (TTM), FY24 Q3: -5627.1% FCF margin (TTM), FY24 Q4: -6240.1% FCF margin (TTM), FY25 Q1: -5502.6% FCF margin (TTM), FY25 Q2: -6169.6% FCF margin (TTM), FY25 Q3: -8702.8% FCF margin (TTM), FY25 Q4: -9292.5% FCF margin (TTM), FY26 Q1: -13479.9% FCF margin (TTM), FY26 Q2: -8074.6% -8074.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -4554.7%
FY23 Q4 -4663.8%
FY24 Q1 -4531.9%
FY24 Q2 -6215.8%
FY24 Q3 -5627.1%
FY24 Q4 -6240.1%
FY25 Q1 -5502.6%
FY25 Q2 -6169.6%
FY25 Q3 -8702.8%
FY25 Q4 -9292.5%
FY26 Q1 -13479.9%
FY26 Q2 -8074.6%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 0 1 0 1 0 0 0
Gross profit — 0 0 1 0 0 0
EBITDA −19 −49 −47 −39 −31 −22 −19
Operating income −20 −50 −48 −41 −33 −23 −21
Net income −19 −10 −30 −50 −39 −26 −40
Diluted EPS −$1.10 −$3.20 — — — — −$3.50
Growth (year on year)
Revenue — +251.0% −34.6% +38.3% −47.7% −41.5% −31.1%
Margins
Gross margin — 60.0% 94.5% 81.5% 79.5% 78.5% 70.1%
EBITDA margin <−999% <−999% <−999% <−999% <−999% <−999% <−999%
Operating margin <−999% <−999% <−999% <−999% <−999% <−999% <−999%
Net margin <−999% <−999% <−999% <−999% <−999% <−999% <−999%
Free-cash-flow margin <−999% <−999% <−999% <−999% <−999% <−999% <−999%
Cash flow
Cash from operations −19 −35 −39 −30 −21 −19 −16
Capital spending 0 1 5 0 0 0 0
Free cash flow −19 −36 −44 −31 −21 −19 −16
Stock-based pay 1 12 9 9 8 6 5
Free cash flow after stock pay −20 −48 −53 −40 −29 −25 −21
Balance sheet
Cash 59 50 18 29 12 5 10
Total debt 8 14 16 25 11 18 19
Net debt (negative = net cash) −51 −36 −2 −4 −1 13 9
Diluted shares — 3m 3m 5m 7m 10m 11m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 5 checks passed · June 30, 2026
What it owns · $23m
Short-term assets $15mLonger-term assets $8m
What it owes, and who funded it · $48m
Short-term liabilities $5mLonger-term liabilities $43mShareholders' equity $-25m
  • Short-term assets cover short-term liabilities $15m of assets due within a year against $5m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $15m short-term assets against $43m of longer-dated liabilities.
  • More cash than debt $10m of cash against $18m of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt −$16m of operating cash flow against $18m of debt.
  • Operating profit covers interest at least five times over Operating income of −$21m against $3m of interest.

From Clene Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+35.4%
year over year
R&D spending
6505.6%
of revenue
Days sales outstanding
80 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in biotechnology
Last 12 months unless stated CLNN CLDX CRVO IBIO LSTA AIM Median
Revenue, last 12 months $197000 $158000 $331295 $100000 $100000 $95000 $56m
Revenue growth, last 12 months −31.1% −97.3% −95.7% −75.0% −90.7% −21.5% 12.6%
Revenue growth, 3-year average −36.9% −63.5% −52.7% −62.4% — −17.3% 13.7%
Revenue growth, latest quarter 233.3% −97.0% −100.0% −100.0% −100.0% 4.0% 10.2%
Gross margin 70.1% — 100.0% 59.9% 7.7% −968.5% 82.9%
Operating margin <−999% <−999% <−999% <−999% <−999% <−999% −189.4%
Operating margin, 3-year average <−999% <−999% <−999% <−999% <−999% <−999% −363.5%
Net margin <−999% <−999% <−999% <−999% <−999% <−999% −169.8%
Cash from operations / revenue <−999% <−999% <−999% <−999% <−999% <−999% −168.0%
Free-cash-flow margin <−999% <−999% — <−999% <−999% <−999% −162.4%
Free-cash-flow margin, 3-year average <−999% <−999% — <−999% <−999% <−999% −310.0%
Stock pay / revenue >999% >999% 393.0% >999% >999% 0.0% 20.0%
Change in share count 35.4% 4.7% 8.4% 13.9% 5.1% 49.8% 8.2%

Median of all 184 companies we cover in biotechnology. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

184 biotechnology companies
Measure Company Peer median Rank
Revenue growth Growth -31.1% 12.6% 131 of 172
Change in growth rate Growth +30.6pp -0.1pp 32 of 172
Gross margin Profitability 70.1% 82.4% 52 of 75
Operating margin Profitability -10432.0% -189.4% 167 of 175
Net margin Profitability -20059.9% -157.3% 175 of 180
Free-cash-flow margin Cash generation -8074.6% -145.4% 168 of 176
Stock pay as % of revenue Cash generation 2751.3% 19.2% 175 of 179
Long-term debt as % of assets Balance sheet 76.4% 20.6% 77 of 78
Change in share count Balance sheet 35.4% 7.9% 136 of 156
Days sales outstanding Balance sheet 80 days 75 days 53 of 100

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Products $119,000 59.5% ▼ 49.8%
Royalty $81,000 40.5% ▼ 22.9%

From Clene Inc.'s 10-K filed March 17, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$19.6M
Institutions reporting
33
Shares held vs prior quarter
▲ 45.0%
Positions opened / closed
7 / 2

Top buyers and sellers, Q2 2026: 17 institutions bought and 6 sold ; the biggest buyer was Empery Asset Management, LP (+917K shares) and the biggest seller Peak6 LLC (−20K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Empery Asset Management, LP $5.6M 917K 28.8% New
Scoggin Management LP $3.7M 600K 18.9% ▲ 100.0%
Boxer Capital Management, LLC $2.9M 478K 15.0% 0.0%
Ensign Peak Advisors, Inc $2.1M 348K 10.9% ▲ 35.0%
Vanguard Capital Management LLC $2.1M 334K 10.5% ▲ 8.3%
Geode Capital Management, LLC $629,645 102K 3.2% ▲ 6.6%
Blackrock, Inc. $378,895 62K 1.9% ▲ 82.1%
Vanguard Fiduciary Trust Co $355,544 58K 1.8% ▲ 32.1%
Lunt Capital Management, Inc. $321,660 52K 1.6% 0.0%
Parsons Capital Management Inc $229,231 37K 1.2% 0.0%
Peak6 LLC $184,724 30K 0.9% ▼ 40.0%
State Street Corp $183,425 30K 0.9% 0.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Clene Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $216,664 1 trade by 1 insider, last 12 months Insider sales History → $5.8M 62 trades by 1 insider · 0% under pre-set plans
Net ▼ $5.6M net selling
Insider Date Trade Shares Price Value
Ugwumba Chidozie 10% owner May 12, 2026 Sell 73,296 $6.20 $454,435
Ugwumba Chidozie 10% owner May 11, 2026 Sell 22,177 $6.75 $149,695
Ugwumba Chidozie 10% owner May 4, 2026 Sell 72,884 $6.80 $495,611
Ugwumba Chidozie 10% owner May 1, 2026 Sell 5,795 $6.01 $34,828
Ugwumba Chidozie 10% owner April 30, 2026 Sell 5,736 $6.08 $34,875
Ugwumba Chidozie 10% owner April 29, 2026 Sell 12,170 $5.63 $68,517
Ugwumba Chidozie 10% owner April 28, 2026 Sell 1,591 $5.90 $9,387
Ugwumba Chidozie 10% owner April 21, 2026 Sell 61,345 $6.14 $376,658
Ugwumba Chidozie 10% owner April 20, 2026 Sell 4,318 $6.12 $26,426
Ugwumba Chidozie 10% owner April 17, 2026 Sell 25,040 $6.43 $161,007
Ugwumba Chidozie 10% owner April 16, 2026 Sell 7,748 $6.40 $49,587
Ugwumba Chidozie 10% owner April 15, 2026 Sell 6,374 $6.48 $41,304

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 12, 2026 estimated from the company's past filing pattern, not announced

  • August 14, 2026
  • May 14, 2026
  • March 12, 2026
  • November 13, 2025
  • October 14, 2025
  • August 14, 2025

Recent SEC filings

Data status

When each part of this page on Clene Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Clene Inc. in brief

What does Clene Inc. do?
Clene Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.
What is Clene Inc.'s stock ticker?
Clene Inc. trades under the ticker CLNN on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Clene Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Clene Inc. reported revenue of $197,000, 31.1% lower than a year earlier, according to its SEC filings.
What is Clene Inc.'s free cash flow?
Clene Inc.'s free-cash-flow margin is -8074.6% of revenue over the trailing twelve months, ranking 168 of the 176 biotechnology companies we cover.
Who are Clene Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Empery Asset Management, LP, Scoggin Management LP and Boxer Capital Management, LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Clene Inc.'s market cap?
On November 2, 2026, Clene Inc.'s market capitalisation was about $40.7M and net debt of $9.1M. Market figures come from third-party market data and may be delayed.
Who are Clene Inc.'s competitors?
In our Biotechnology peer group, the companies closest to Clene Inc. are Celldex Therapeutics, Inc., Cervomed Inc., Ibio, Inc., Lisata Therapeutics, Inc. and AIM Immunotech Inc. The side-by-side comparison below sets their revenue, margins and growth against Clene Inc.'s.
Are insiders buying or selling Clene Inc. stock?
Over the last 12 months, Clene Inc.'s directors and officers reported 1 open-market purchases and 62 sales on Form 4. The insider trading page charts every trade.
When is Clene Inc.'s next earnings date?
Around November 12, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Clene Inc. announces its own schedule.