Home / Going-concern warnings / Clene Inc.
Filed 2026-03-17 路 Form 10-K 路 Accession 0001437749-26-008502 micro
Price before filing: $5.96 (2026-03-16 close, split/dividend-adjusted)
Market cap at flag: $71.4M (2026-03-17) 路 Latest: $38.4M (2026-10-16)
| Window | CLNN | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +6.5% | +5.2% | +1.4% | 2026-04-16 |
| 90 days | -3.2% | +13.1% | -16.3% | 2026-06-15 |
| 180 days | -45.0% | +14.3% | -59.3% | 2026-09-14 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 1 insider sold $1.5M (32 sales); 1 insider bought $217K (1 purchase)
30 days after: 1 insider sold $826K (10 sales)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-12-17 | Ugwumba Chidozie 10% owner | Sale | 2,884 | $6.61 | $19K | no | Form 4 |
| 2025-12-18 | Ugwumba Chidozie 10% owner | Sale | 5,816 | $6.33 | $37K | no | Form 4 |
| 2025-12-19 | Ugwumba Chidozie 10% owner | Sale | 5,582 | $6.45 | $36K | no | Form 4 |
| 2025-12-22 | Ugwumba Chidozie 10% owner | Sale | 4,367 | $6.54 | $29K | no | Form 4 |
| 2025-12-23 | Ugwumba Chidozie 10% owner | Sale | 6,831 | $6.27 | $43K | no | Form 4 |
| 2025-12-24 | Ugwumba Chidozie 10% owner | Sale | 1,490 | $6.27 | $9K | no | Form 4 |
| 2025-12-26 | Ugwumba Chidozie 10% owner | Sale | 3,350 | $6.32 | $21K | no | Form 4 |
| 2025-12-29 | Ugwumba Chidozie 10% owner | Sale | 8,096 | $5.95 | $48K | no | Form 4 |
| 2025-12-30 | Ugwumba Chidozie 10% owner | Sale | 4,138 | $6.03 | $25K | no | Form 4 |
| 2025-12-31 | Ugwumba Chidozie 10% owner | Sale | 13,095 | $5.81 | $76K | no | Form 4 |
| 2026-01-02 | Ugwumba Chidozie 10% owner | Sale | 4,015 | $5.73 | $23K | no | Form 4 |
| 2026-01-05 | Ugwumba Chidozie 10% owner | Sale | 5,869 | $5.87 | $34K | no | Form 4 |
| 2026-01-06 | Ugwumba Chidozie 10% owner | Sale | 3,111 | $6.04 | $19K | no | Form 4 |
| 2026-01-07 | Ugwumba Chidozie 10% owner | Sale | 3,938 | $6.29 | $25K | no | Form 4 |
| 2026-01-08 | Ugwumba Chidozie 10% owner | Sale | 3,195 | $6.09 | $19K | no | Form 4 |
| 2026-01-09 | Ugwumba Chidozie 10% owner | Sale | 9,075 | $6.27 | $57K | no | Form 4 |
| 2026-01-12 | Ugwumba Chidozie 10% owner | Sale | 32,705 | $5.50 | $180K | no | Form 4 |
| 2026-01-13 | MATLIN DAVID J Director | Purchase | 33,333 | $6.50 | $217K | no | Form 4 |
| 2026-01-13 | Ugwumba Chidozie 10% owner | Sale | 26,105 | $4.89 | $128K | no | Form 4 |
| 2026-01-14 | Ugwumba Chidozie 10% owner | Sale | 19,621 | $5.12 | $100K | no | Form 4 |
| 2026-01-15 | Ugwumba Chidozie 10% owner | Sale | 12,563 | $5.10 | $64K | no | Form 4 |
| 2026-01-16 | Ugwumba Chidozie 10% owner | Sale | 7,923 | $5.13 | $41K | no | Form 4 |
| 2026-01-20 | Ugwumba Chidozie 10% owner | Sale | 12,432 | $4.80 | $60K | no | Form 4 |
| 2026-01-21 | Ugwumba Chidozie 10% owner | Sale | 12,119 | $5.05 | $61K | no | Form 4 |
| 2026-01-22 | Ugwumba Chidozie 10% owner | Sale | 12,665 | $5.32 | $67K | no | Form 4 |
| 2026-03-17: red flag filed | |||||||
Showing 25 of 43 transactions.
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-12-17 to 2026-04-16. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"As discussed in Note 1 to the financial statements, the Company has incurred significant losses and negative cash flows from operations since inception and will not have sufficient cash and other resources on hand to sustain current operations or meet obligations as they become due, that raise substantial doubt about the Company's ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Going-concern opinion issued by: Deloitte & Touche LLP
Source: independent auditor report in Form 10-K (period 2025-12-31)
Why this score: in auditor's report
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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