Clene Secures $8.04M NIH Grant Subaward for Year 3 of ALS Expanded Access Program

summarizeSummary

Clene Inc. announced a subaward agreement for $8.04 million from the NIH Grant for the third year of its Expanded Access Program for CNM-Au8 in ALS, providing significant non-dilutive funding.

check_boxKey Events · Financing and Capital Events · CLNN

• Secures $8.04 Million Grant Subaward

  Clene Inc. entered into a subaward agreement with New York University for up to $8,043,660.83 for the third year of a National Institute of Health (NIH) Grant.

• Funds ALS Expanded Access Program

  The funding supports the Expanded Access Program for CNM-Au8 treatment of amyotrophic lateral sclerosis (ALS), awarded under the Accelerating Access to Critical Therapies for ALS Act.

• Non-Dilutive Capital for Clinical Program

  This grant provides significant non-dilutive capital, representing over 11% of the company's market capitalization, ensuring continued support for a key clinical program.

• Continuation of Existing Grant

  This is the third year of a four-year NIH Grant, following previous subawards for Year 1 ($7.3M) and Year 2 ($8.0M), indicating ongoing support for the program.

auto_awesomeAnalysis · CLNN · Life Sciences

Clene Inc. has secured a significant non-dilutive funding commitment for its critical CNM-Au8 Expanded Access Program for ALS. This $8.04 million subaward for the third year of the NIH Grant provides substantial capital, representing over 11% of the company's current market capitalization. For a life sciences company, securing non-dilutive funding for a clinical program is a strong positive, extending its financial runway and supporting ongoing research without shareholder dilution. This follows previous subawards for the first two years of the grant, demonstrating continued support for the program and its potential to generate valuable real-world data for ALS treatment.