CLNN · Clene Inc.

Clene Inc. filed an 8-K on May 14, 2026, disclosing two material events. First, on May 11, 2026, the Company entered into a Second Amendment to its amended and restated senior secured convertible promissory notes with holders Kensington Clene 2024, LLC, 4Life Research, LLC, and La Scala Investments, LLC. The amendment extends the maturity date to the earlier of August 13, 2027 or a change in control, and defers monthly aggregate principal and accrued interest payments of $1,000,000 that were scheduled to begin September 13, 2026, with the full balance now due at maturity. This improves near-term liquidity by eliminating required payments before maturity. Second, the Company issued a press release (Exhibit 99.1) announcing first quarter 2026 financial results and operating highlights. For Q1 2026, Clene reported total revenue of $15,000, down from $81,000 in Q1 2025, primarily due to lower product revenue. Research and development expenses decreased to $329,000 from $1.48 million, reflecting reduced ALS program costs partially offset by increased regulatory activities. General and administrative expenses fell to $1.75 million from $2.66 million, driven by lower personnel costs and higher grant revenue. Net loss widened to $8.09 million ($0.69 per share) from $0.75 million ($0.09 per share) in the prior year, largely due to $4.58 million loss on initial issuance of equity and $1.06 million change in fair value of warrant liabilities. Cash and cash equivalents stood at $5.9 million as of March 31, 2026. The Company expects operating runway into Q4 2026, considering the $7.0 million May 2026 registered direct offering and the amended convertible debt facility requiring no payments until August 2027. Additionally, potential warrant exercises tied to NDA acceptance could extend cash runway into 2027. Operationally, Clene highlighted a successful FDA Type C meeting supporting an NDA submission for CNM-Au8 under the accelerated approval pathway for ALS, planned for Q3 2026, with a confirmatory Phase 3 trial expected to start in Q1 2027. The Company also completed a $28 million oversubscribed registered direct offering in January 2026 and a $7 million underwritten offering in May 2026.