Clene falls as ALS drug fail to meet main goal in mid-stage study

Clene

03/10/2022 13:52

** Drug developer Clene Inc shares  CLNN.O  slides 55.3% to
$1.2 - biggest pct loser across US stock exchanges premarket
    ** CLNN says its experimental drug to treat patients with
amyotrophic lateral sclerosis (ALS) did not meet main goal in
mid-stage study 
    ** The drug, when compared to placebo, did not show
statistically significant results on a rating scale adjusted for
mortality at 24 weeks
    ** While the drug also failed to meet secondary goals,
survival benefits of the drug remained consistent - CLNN
    ** ALS is a progressive neurological disorder which results
in weakening of muscles
    ** Up to Friday's close, stock lost ~32% YTD 
 (Reporting by Khushi Mandowara)
 ((Khushi.Mandowara@thomsonreuters.com;))