Clene SEC Filings

Clene Inc. (CLNN) reported a Section 16 Form 4 disclosing that director David J. Matlin was granted a stock option on 08/14/2025 for 7,255 shares of common stock under the companys Amended 2020 Stock Plan. The option has an exercise price of $3.60 per share, vests immediately upon grant, and is exercisable through an expiration date of 08/13/2035. Following the grant, Mr. Matlin beneficially owns 7,255 underlying shares via this option, held in a direct ownership form. The Form 4 was filed by one reporting person and signed via POA.

Clene Inc. (CLNN) director Matthew Kiernan was granted a stock option on 08/14/2025 for 3,720 shares of common stock under the Clene Inc. Amended 2020 Stock Plan at an exercise price of $3.60 per share. The option vests immediately upon grant, is exercisable now, and expires on 08/13/2035. Following the grant, the reporting person beneficially owns 3,720 shares via direct ownership. The Form 4 was signed by a power of attorney, Jerome T. Miraglia, on 08/15/2025.

Clene Inc. director Alison Mosca was granted a stock option for 5,674 shares of common stock under the Clene Inc. Amended 2020 Stock Plan with an exercise price of $3.60 per share. The option was granted on 08/14/2025, vests immediately upon grant, is exercisable through 08/13/2035, and, if exercised, represents 5,674 shares of common stock. The Form 4 was signed via power of attorney on 08/15/2025.

Clene Inc. insider grant: Director Shalom Jacobovitz was granted a non-qualified stock option for 5,534 shares of Clene Inc. common stock on 08/14/2025 under the Clene Inc. Amended 2020 Stock Plan at an exercise price of $3.60 per share. The option vests immediately upon grant and is exercisable through 08/13/2035. Following the grant, the reporting person beneficially owns 5,534 underlying shares and exercised price per share for reporting is shown as $0 (reflecting the reporting field for shares beneficially owned). The Form 4 was signed by a POA on 08/15/2025.

Clene Inc. (CLNN) reported a Section 16 Form 4 showing that director Jonathon Gay was granted a stock option on 08/14/2025 for 4,790 shares of common stock under the Clene Inc. Amended 2020 Stock Plan at an exercise price of $3.60 per share. The filing states the options vest immediately upon grant.

The derivative instrument lists an expiration (or date referenced) of 08/13/2035. The Form 4 was signed by a power of attorney, Jerome T. Miraglia, on 08/15/2025. The report shows the acquisition was an option grant and indicates the number of underlying shares and exercise price but does not disclose total company holdings or percentage ownership after the grant.

Clene Inc. (CLNN) director Arjun J.J. Desai was granted a stock option for 4,278 shares on 08/14/2025 under the Clene Inc. Amended 2020 Stock Plan. The option has an exercise price of $3.60 per share, vests immediately upon grant, and is exercisable until its expiration on 08/13/2035. Following the grant, the reporting person beneficially owns 4,278 shares subject to this option, held directly. The Form 4 was filed as a single reporting person filing and signed by a power of attorney on 08/15/2025.

Clene Inc. director Reed N. Wilcox was granted a stock option for 3,720 shares of common stock on 08/14/2025 at an exercise price of $3.60 per share. The option was granted under the Clene Inc. Amended 2020 Stock Plan, vests immediately, and expires on 08/13/2035. Following the grant, the reporting person beneficially owns 3,720 underlying shares through this option. The Form 4 was signed by a power of attorney, Jerome T. Miraglia, and filed on 08/15/2025.

Clene Inc. amended its December 2024 senior secured convertible notes and sold a new series of senior secured convertible notes totaling $1,500,000. The amendment extends the maturity window to the earlier of 18 months following the amendment or February 13, 2027, and postpones $1,000,000 monthly principal repayments so they begin on the 13-month anniversary of the amendment (commencing September 13, 2026). Interest from August 1, 2025 through maturity will be capitalized and added to principal, and holders may elect to convert up to 65% of capitalized interest into common stock at $4.44 per share.

The new August 2025 notes bear 12% annual interest, require monthly principal repayments of $150,000 beginning 13 months after issuance, allow conversion of up to 65% of initial principal (subject to an aggregate conversion cap of $975,000), and provide holders in a change-in-control scenario options to convert, receive 115% cash, or a combination. Kensington is the collateral agent and several note purchasers have pre-existing relationships with the company, including board-affiliated parties. A press release with second quarter 2025 results is furnished as an exhibit.

Clene Inc. is a clinical-stage pharmaceutical company developing clean-surfaced nanocrystal therapeutics for central nervous system disorders. For the quarter ended June 30, 2025, cash and cash equivalents were $7.3 million (down from $12.2 million at 12/31/2024), total assets were $22.1 million, and total liabilities were $30.7 million, producing a stockholders' deficit of $(8.6) million. Revenue remained minimal at $27 thousand for the quarter and $108 thousand for the six months ended June 30, 2025, while net loss for the six months was $8.17 million (net loss per share, basic and diluted, $0.89).

The company disclosed substantial doubt about its ability to continue as a going concern, citing recurring operating losses, negative operating cash flow of $9.8 million for the six months, and an accumulated deficit of $290.3 million. Material financing and liquidity items include a $45.1 million NIH grant with up to $30.9 million of subawards to Clene (reimbursements recognized; $6.4 million recognized in the six months), equity distribution proceeds of $5.1 million in the six months (plus $1.9 million subsequent to period end), and convertible senior secured notes with covenants requiring at least $2.0 million of unrestricted cash to avoid acceleration. Management is pursuing additional financing and has implemented cost-saving measures, but concluded these plans do not alleviate the substantial doubt about operations beyond one year.