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Clene First Quarter 2024 Earnings: Misses Expectations

Clene (NASDAQ:CLNN) First Quarter 2024 Results

Key Financial Results

  • Net loss: US$11.1m (loss narrowed by 5.9% from 1Q 2023).

  • US$0.086 loss per share (improved from US$0.15 loss in 1Q 2023).

earnings-and-revenue-history
earnings-and-revenue-history

All figures shown in the chart above are for the trailing 12 month (TTM) period

Clene Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 41%. Earnings per share (EPS) also missed analyst estimates by 12%.

Looking ahead, revenue is forecast to grow 70% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Biotechs industry in the US.

Performance of the American Biotechs industry.

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The company's shares are down 11% from a week ago.

Risk Analysis

Before you take the next step you should know about the 6 warning signs for Clene (3 are significant!) that we have uncovered.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.