- H.C. Wainwright initiated coverage on Clene Inc (NASDAQ:CLNN) with a Buy rating and a $16 price target.
- Clene is focused on the development of novel clean-surfaced nanotechnologies consisting of transition element nanocrystals for central nervous disorders, such as amyotrophic lateral sclerosis (ALS), multiple sclerosis (MS), and Parkinson’s disease (PD).
- The company’s lead asset, CNM-Au8, is an oral, highly concentrated aqueous of catalytically active gold nanocrystals capable of overcoming the energetic deficit, oxidative stress, and accumulation of misfolded proteins that are common to many neurodegenerative diseases.
- Related: Clene’s CNM-Au8 Shows Decreased Mortality Amyotrophic Lateral Sclerosis Patients.
- The analyst believes that Clene’s approach presents key advantages and differentiating elements when compared to other therapies, including:
- Innovative mechanism of action compared to traditional small-molecule or biologic drug approaches.
- Disease-modifying potential compared to currently approved drugs.
- Robust portfolio of over 150 patents.
- The data from the Phase 3 HEALEY ALS trial are expected in 3Q22, with potential NDA submission in 1H 2023.
- Price Action: CLNN shares are up 7.78% at $4.85 during the market session on the last check Monday.
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