Why Clene Shares Are Nosediving
Portfolio Pulse from Henry Khederian
Clene Inc. (NASDAQ:CLNN) shares dropped 13.81% after announcing a $40 million public offering of 50,000,000 shares and accompanying warrants at a combined price of $0.80. The offering is set to close on June 21, and the proceeds will be used for general corporate purposes, clinical development of CNM-Au8®, R&D, and regulatory activities.
June 16, 2023 | 3:11 pm
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Clene Inc.'s stock price dropped 13.81% after announcing a $40 million public offering, which may dilute existing shareholders' value. The proceeds will be used for corporate purposes, CNM-Au8® development, R&D, and regulatory activities.
The stock price drop is likely due to the announcement of the public offering, which may dilute existing shareholders' value. However, the proceeds will be used for important corporate purposes, including the development of CNM-Au8®, R&D, and regulatory activities, which could potentially benefit the company in the long run.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100