Clene Inc. (NASDAQ: CLNN) Improves Cash Position and Runway with New Debt Facility for CNM-Au8(R) Data Collection to Support Accelerated Approval Application
The $10 million loan agreement, carrying a 12% interest rate and secured by all assets of Clene, was signed with three lenders affiliated with the company. The funds will be used to repay the remaining $7.9 million debt of an Avenue Capital Group loan, and will improve the company’s cash position, enabling it extra runway to generate additional data to support the new drug application of CNM-Au8 for ALS. The FDA earlier suggested that Clene leverage additional neurofilament light (“NfL”) data from the company’s three Expanded Access Protocols (compassionate use programs) and the HEALEY ALS Platform Trial to support earlier…