Clene rises on promising data from ALS drug trial

Clene

09/03/2023 12:05

** Shares of drug developer Clene Inc  CLNN.O  rise ~19.23%
to $1.55 premarket  
    ** Co says its lead candidate being developed to treat
amyotrophic lateral sclerosis (ALS) significantly delayed time
to clinical worsening in a platform trial   
    ** The drug candidate, CNM-Au8, showed 74% lower risk of ALS
clinical worsening, which included death, the need for assisted
breathing and use of stomach feeding tubes, particularly at the
30mg dosage  -CLNN
    ** CLNN plans to discuss the study findings with the U.S.
FDA to seek a regulatory pathway towards approval  
    ** ALS is a progressive nervous system disease that affects
nerve cells in the brain and spinal cord, causing loss of muscle
control
    ** Up to Wednesday's close, stock fell ~53% over the past 12
months

 (Reporting by Mariam Sunny)
 ((Mariam.ESunny@thomsonreuters.com;))