On January 9, 2026, Clene Inc. and its wholly owned subsidiary Clene Nanomedicine, Inc. entered into agreements for an oversubscribed registered direct offering that is expected to generate over $28 million in gross proceeds. The syndicate of investors includes Boxer Capital Management, Coastlands Capital and Vivo Capital, alongside existing insider stakeholders. BTIG, LLC serves as sole placement agent, and the closing is anticipated on or about January 12, 2026, subject to customary conditions.

The initial tranche comprised the issuance of 928,333 units at 6.50 each, producing $6.03 million in gross proceeds. Clene expects this infusion to extend operational cash runway into the third quarter of 2026, funding the Company through the upcoming New Drug Application (NDA) acceptance decision by the U.S. Food and Drug Administration for CNM-Au8 in ALS.

Two additional tranches, contingent on NDA milestones, can yield up to $22.28 million. Series A warrants cover approximately $6.68 million of potential proceeds with an initial exercise price of 6.00, escalating to 7.00 upon announcement of the FDA PDUFA date. Series B warrants encompass roughly $15.60 million in proceeds, featuring a tiered exercise price structure that increases to either 10.00 or 12.50 based on stock volume-weighted average price thresholds linked to FDA approval announcements. Both warrant series are exercisable immediately and are subject to early redemption if share price targets are met.

Upon full subscription of all three tranches, Clene anticipates securing sufficient capital into early 2027. This financing runway is intended to support final NDA submission activities, potential FDA approval, and initial commercialization efforts for CNM-Au8 in amyotrophic lateral sclerosis, positioning Clene to transition from late clinical development into product launch preparations.