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HC Wainwright Initiates Coverage On This Nanocrystals Stock

·1 min read
  • H.C. Wainwright initiated coverage on Clene Inc (NASDAQ: CLNN) with a Buy rating and a $16 price target.

  • Clene is focused on the development of novel clean-surfaced nanotechnologies consisting of transition element nanocrystals for central nervous disorders, such as amyotrophic lateral sclerosis (ALS), multiple sclerosis (MS), and Parkinson's disease (PD).

  • The company's lead asset, CNM-Au8, is an oral, highly concentrated aqueous of catalytically active gold nanocrystals capable of overcoming the energetic deficit, oxidative stress, and accumulation of misfolded proteins that are common to many neurodegenerative diseases.

  • Related: Clene's CNM-Au8 Shows Decreased Mortality Amyotrophic Lateral Sclerosis Patients.

  • The analyst believes that Clene's approach presents key advantages and differentiating elements when compared to other therapies, including:

    • Innovative mechanism of action compared to traditional small-molecule or biologic drug approaches.

    • Disease-modifying potential compared to currently approved drugs.

    • Robust portfolio of over 150 patents.

  • The data from the Phase 3 HEALEY ALS trial are expected in 3Q22, with potential NDA submission in 1H 2023.

  • Price Action: CLNN shares are up 7.78% at $4.85 during the market session on the last check Monday.

Latest Ratings for CLNN

Date

Firm

Action

From

To

May 2021

Maxim Group

Initiates Coverage On

Buy

May 2021

Cantor Fitzgerald

Initiates Coverage On

Overweight

Mar 2021

Benchmark

Initiates Coverage On

Buy

View More Analyst Ratings for CLNN

View the Latest Analyst Ratings

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