Clene Inc. (NASDAQ: CLNN) announced the pricing of an underwritten registered direct offering of 1 million shares of common stock at $7.00 per share to a single investor. The biopharmaceutical company expects gross proceeds of approximately $7 million before deducting underwriting discounts, commissions and other offering expenses.

The company plans to use net proceeds for general corporate purposes and to fund preparation and filing of its New Drug Application for CNM-Au8, its lead drug candidate for neurodegenerative diseases. Additional funds will support ongoing expanded access protocols, a future confirmatory Phase 3 clinical trial, manufacturing expansion, potential commercialization efforts and early-stage research and development activities.

The offering is expected to close on or about May 6, 2026, subject to customary closing conditions. Canaccord Genuity LLC is serving as sole bookrunner for the offering.

The Salt Lake City-based company is conducting clinical trials for CNM-Au8, an investigational therapy designed to improve mitochondrial function and protect neuronal function for treating conditions including amyotrophic lateral sclerosis and multiple sclerosis.

The offering is being conducted under a shelf registration statement previously filed with the Securities and Exchange Commission. Information about the offering was provided in a company press release.