There’s no denying the results as Clene revolutionizes the treatment of neurodegenerative disease
Seven-figure funding has obvious financial benefits for any business. When it comes from a government entity, however, it also represents confidence that the company is doing something to benefit the community and has a high chance of succeeding.
This is definitely the case with Salt Lake City-based Clene Inc. (CLNN). This biopharmaceutical business addresses significant market opportunities: amyotrophic lateral sclerosis (ALS), a market valued at $1 billion globally by 2029; multiple sclerosis (MS), valued at $23 billion; and Parkinson’s disease, valued at $6 billion by 2026.
But of course, this isn’t just a cash grab by any means. In fact, Clene seeks to improve upon the prevailing treatment modalities for neurodegenerative disease with an innovative nano-therapeutic platform.
A highly promising ALS treatment candidate could be life-changing, and there’s recent data demonstrating excellent progress. At the same time, a big-dollar financial award proves that Clene Inc. is a worthy investment in the future of life-changing medicine.
A Closer Look at CLNN Stock
Let me tell you, when CLNN stock runs, it runs hot and fast. You definitely don’t want to be on the short side of the trade – that’s for sure.
I remember when CLNN stock was trading at $6 and change in late January of 2021. Any short sellers would soon get a smack-down, and probably had to cover their positions lest they get a margin call from their brokers.
Astoundingly, in February CLNN stock shot up to $17.82 – I told you, hot and fast! A similar rally occurred from May to mid-July, when the stock soared from $6 and change to $14.
Clearly, this is a stock that can be a multi-bagger if you buy it at the right price. So, is it time to re-load and prepare for the next boom cycle?
The answer is certainly in the affirmative, as CLNN stock recently pulled back to $5 and change. It’s basically an open door, just waiting for attentive investors to take a position before the crowd of buyers come rushing in again.
Encouraging Results
The battle against ALS seems like it’s never-ending – it’s always a challenge.
Yet, Clene Inc.’s recently reported clinical data should offer hope and encouragement to ALS patients.
The company’s lead drug candidate, CNM-Au8, is an oral suspension of gold nano-crystals that drive critical cellular energetic metabolism in the central nervous system (CNS). CNM-Au8 increases energy production and utilization to accelerate neuro-repair and improve neuro-protection.
CNM-Au8 is currently being evaluated in a Phase 3 registration trial in ALS as well as a Phase 2 trial for the treatment of chronic optic neuropathy in patients with stable relapsing MS.
Clene has been aggressively advancing RESCUE-ALS, a Phase 2 clinical trial to evaluate CNM-Au8 as a disease-modifying treatment for people with early ALS.
Among other results, RESCUE-ALS showed evidence for a potential long-term survival benefit from CNM-Au8 when comparing the observed survival of the trial population to the predicted survival, based on the validated ENCALS model.
An Award and a Partership
Moreover, Clene proudly presented updated data from the RESCUE-ALS Phase 2 study at 4th Annual ALS ONE Research Symposium.
“We continue to remain excited about these clinically meaningful findings, which given the remarkable safety and tolerability of CNM-Au8 seen so far in the development program, speak to the potential for a positive benefit-risk assessment,” stated Dr. Robert Glanzman, Chief Medical Officer at Clene.
With such significant data under the company’s belt, it shouldn’t be too surprising that Clene is gaining recognition for its breakthrough science.
I mentioned that the company is based in Salt Lake City, Utah, but it’s important to know that Clene has R&D and manufacturing operations in Maryland.
Regarding that, it’s exciting to reveal that Clene has earned a $1 million grant award from the Maryland Department of Housing and Community Development (DHCD) to further support the redevelopment of the Clene manufacturing facility in Elkton, Maryland.
Reportedly, the legacy site is being redeveloped for pharmaceutical product development to increase Clene’s manufacturing capacity and support anticipated product commercialization for ALS with Clene’s lead asset, CNM-Au8.
“Maryland’s community of innovators and state-of-the-art facilities will enable the accelerated development of Clene’s neuroprotective therapeutic. We look forward to expanding our partnership with the State and the Town of Elkton,” said Mark Mortenson, Founder and Chief Scientific Officer of Clene Nanomedicine.
The Bottom Line
In the fight against neurodegenerative disease, Clene, Inc. is on the front lines and taking absolutely no prisoners.
The $1 million grant is certainly a vote of confidence that Clene has the tools and the talent to wage war against ALS and other debilitating conditions.
Amid that backdrop, it’s easy to envision significantly higher prices, soon and in the long term, for CLNN stock.
