Clene Inc. (CLNN)
CIK 1822791 · all EDGAR filings →
Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.
Shares outstanding over time
Latest: 14.4M shares as of Nov 2, 2026 (10-Q).⊙
Cash runway
Going-concern warning
auditor flagged substantial doubt
The company itself flagged going-concern doubt in a filing.
Full breakdown: cash runway tool · source filing →
Warrants
| Tranche | Warrants | Exercise price | Term | Notes |
|---|---|---|---|---|
| Series B Warrants | 2.6M | $6 | 5y | — |
| Tranche A Warrant | 2.5M | $22 | — | — |
| Tranche B Warrant | 2.5M | $30 | — | — |
| The2024 Common Warrants | 1.5M | $4.82 | — | — |
| Common Stock Warrant | 1.5M | $4.82 | — | — |
| Series A Warrants | 1.1M | $6 | 3y | — |
| Avenue Warrants2023 | 150,000 | $4.6014 | — | — |
Tranches exactly as the company dimensioned them in its 10-Q filed Nov 4, 2026 →. Groupings can overlap (a “Series E and F” row is not additive with a “Series E” row), so do not sum this column. A tranche the filer did not tag is absent here, not absent from the cap table. DOWN-ROUND = the filer tagged price-protection accounting scoped to that tranche.
Warrants outstanding: 1.1M underlying shares, as reported Jul 22, 2021 (10-Q).
Reported exercise price: $8.63 (aggregate figure as tagged; individual tranches vary).
Balance-sheet fair value of warrants: $100,000 as of Mar 31, 2020.
Rough fully diluted estimate: 15.5M = 14.4M O/S + 1.1M warrant shares. An estimate, not a filing figure: it ignores converts, options and RSUs, and the two inputs carry different as-of dates.
Convertible notes
| Note | Principal | Carrying | Conv. price | Rate | If converted |
|---|---|---|---|---|---|
| the 2024 SSCP Notes | $10.0M | $10.9M | $5.668 | 12% | ~1.8M sh |
| the 2022 Dhcd Loan | $5.0M | $5.3M | $80 | 6% | ~62,500 sh |
| the 2025 SSCP Notes | $1.5M | $1.6M | $4.44 | 12% | ~337,838 sh |
If every note above converted at its tagged price: ~2.2M new shares on 14.4M currently outstanding. An estimate from principal ÷ conversion price, with inputs carrying different as-of dates; make-whole adjustments, capped calls and partial repurchases are not modeled.
Notes exactly as the company dimensioned them in its 10-Q filed Nov 4, 2026 →. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.
Fully diluted build-up
Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.
| Shares outstanding | 14.4M | Nov 2, 2026 |
| + Series B Warrants (if exercised) | 2.6M | Sep 30, 2026 |
| + Tranche A Warrant (if exercised) | 2.5M | Dec 31, 2025 |
| + Tranche B Warrant (if exercised) | 2.5M | Sep 30, 2026 |
| + The2024 Common Warrants (if exercised) | 1.5M | Oct 31, 2024 |
| + Common Stock Warrant (if exercised) | 1.5M | Sep 30, 2026 |
| + Series A Warrants (if exercised) | 1.1M | Sep 30, 2026 |
| + Avenue Warrants2023 (if exercised) | 150,000 | Sep 30, 2026 |
| + the 2024 SSCP Notes (if fully converted) | 1.8M | Dec 31, 2024 |
| + the 2022 Dhcd Loan (if fully converted) | 62,500 | Dec 8, 2023 |
| + the 2025 SSCP Notes (if fully converted) | 337,838 | Aug 31, 2025 |
| Fully diluted estimate | 28.5M | +98.1% vs O/S |
Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.
Registrations and offerings
Registered offering capacity on live registrations: $2.6Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted
Last 12 months: 4 executed · 0 registered.
Full history and shelf status: offering checker · S-3 shelf checker
Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.
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