net (8,964) 18,491
----------- ----------
Net loss before income taxes (49,504) (29,918)
----------- ----------
Income tax benefit -- --
----------- ----------
Net loss (49,504) (29,918)
Other comprehensive loss:
Unrealized gain (loss) on
available-for-sale securities 16 (14)
Foreign currency translation
adjustments (20) (16)
----------- ----------
Total other comprehensive loss (4) (30)
----------- ----------
Comprehensive loss $ (49,508) $ (29,948)
=========== ==========
Net loss per share -- basic and
diluted $ (0.47) $ (0.46)
Weighted average common shares used
to compute basic and diluted net
loss per share 104,938,819 65,204,663
CLENE INC.
CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share amounts)
(Audited)
December 31, December 31,
2023 2022
-------------- --------------
ASSETS
Current assets:
Cash and cash equivalents $ 28,821 $ 18,332
Marketable securities 6,179 4,983
Accounts receivable 143 189
Inventory 37 43
Prepaid expenses and other
current assets 3,672 5,648
---------- ----------
Total current assets 38,852 29,195
Restricted cash 58 58
Operating lease right-of-use assets 4,168 4,602
Property and equipment, net 9,263 10,638
---------- ----------
TOTAL ASSETS $ 52,341 $ 44,493
========== ==========
LIABILITIES AND STOCKHOLDERS'
EQUITY
Current liabilities:
Accounts payable $ 1,504 $ 3,014
Accrued liabilities 3,720 3,863
Operating lease obligations,
current portion 576 488
Finance lease obligations,
current portion 27 74
Notes payable, current portion 14,627 6,418
Convertible notes payable,
current portion 4,876 --
---------- ----------
Total current liabilities 25,330 13,857
Operating lease obligations, net of
current portion 4,903 5,557
Finance lease obligations, net of
current portion -- 34
Notes payable, net of current
portion 1,894 9,483
Convertible notes payable, net of
current portion 5,258 9,770
Common stock warrant liabilities 1,481 --
Clene Nanomedicine contingent
earn-out liability 75 2,264
Initial Stockholders contingent
earn-out liability 10 291
---------- ----------
TOTAL LIABILITIES 38,951 41,256
Commitments and contingencies
Stockholders' equity:
Common stock, $0.0001 par value:
300,000,000 and 150,000,000
shares authorized at December
31, 2023 and December 31, 2022,
respectively; 128,422,851 and
74,759,591 shares issued and
outstanding at December 31, 2023
and December 31, 2022,
respectively 13 7
Additional paid-in capital 255,901 196,246
Accumulated deficit (242,723) (193,219)
Accumulated other comprehensive
income 199 203
---------- ----------
TOTAL STOCKHOLDERS' EQUITY 13,390 3,237
---------- ----------
TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY $ 52,341 $ 44,493
========== ==========
(END) Dow Jones Newswires
March 13, 2024 08:00 ET (12:00 GMT)
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