8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 14, 2022

Clene Inc.

(Exact name of registrant as specified in its charter)

Delaware	001-39834	85-2828339
(State or other jurisdiction	(Commission File Number)	(IRS Employer
of incorporation)		Identification No.)

6550 South Millrock Drive, Suite G50 Salt Lake City, Utah	84121
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (801) 676-9695

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value US$0.0001 per share	CLNN	The Nasdaq Capital Market
Warrants, to acquire one-half of one share of Common Stock for $11.50 per share	CLNNW	The Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01 Regulation FD Disclosure.

On February 14, 2022, Clene Inc. (the “Company”) issued a press release providing an update on its clinical programs. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

On February 15, 2022, in connection with the press release, the Company released an updated corporate presentation (the “Corporate Presentation”) on its website, www.clene.com. The Company plans to use its website to disseminate future updates to the Corporate Presentation and may not file or furnish a Current Report on Form 8-K alerting investors if the Corporate Presentation is updated. A copy of the Corporate Presentation is furnished as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.

The information furnished in this Item 7.01, including Exhibit 99.1 and Exhibit 99.2, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), as amended, or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any filing made by the Company under the Exchange Act or the Securities Act of 1933, as amended, regardless of any general incorporation language in any such filings, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number	Exhibit Description
99.1	Press Release, dated February 14, 2022, providing an update on Clene Nanomedicine's clinical programs.
99.2	Corporate Presentation.
104	Cover Page Interactive Data File (formatted as Inline XBRL).

1

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

	CLENE INC.
Date: February 15, 2022	By:	/s/ Robert Etherington
		Robert Etherington
		President and Chief Executive Officer

2

EX-99.1

Exhibit 99.1

Clene Nanomedicine Provides Clinical Program Update

•Healey ALS Platform Trial fully enrolled; top-line data expected 2H 2022

•Significant survival benefit from RESCUE-ALS open label extension (OLE) Phase 2 trial to be presented at upcoming Muscular Dystrophy Association (MDA) Clinical & Scientific Conference in Nashville, TN March 13-16, 2022

•VISIONARY-MS to conclude early due to COVID pandemic-related challenges. Unblinded data expected 2H 2022; insights to inform new Phase 2/3 MS trial.

•REPAIR-MS Phase 2 Trial initiates second cohort to confirm target engagement in non-active progressive MS

•COVID-19 Phase 2 trial completes enrollment; top-line results expected mid-year 2022

SALT LAKE CITY, Feb. 14, 2022 (GLOBE NEWSWIRE) -- Clene Inc. (NASDAQ: CLNN) along with its wholly owned subsidiary Clene Nanomedicine, Inc. (Clene) is a clinical-stage biopharmaceutical company focused on revolutionizing the treatment of neurodegenerative disease. Today, Clene provided clinical program updates for its lead nanotherapeutic platform drug candidate: CNM-Au8®, as well as its antiviral candidate, CNM-ZnAg. CNM-Au8 is a gold nanocrystal suspension, developed to increase cellular energy production and utilization to restore neuronal health. CNM-ZnAg is a proprietary zinc-silver ionic solution that has demonstrated both antiviral and antimicrobial properties.

HEALEY-ALS Phase 2/3 Platform Trial on track to report top-line data in the second half of 2022

Enrollment into the HEALEY ALS Platform Trial, led by the Sean M. Healey & AMG Center for amyotrophic lateral sclerosis (ALS) at Massachusetts General Hospital (MGH), completed in November 2021. This Phase 2/3 trial is evaluating Clene’s lead drug candidate, CNM-Au8, for the treatment of ALS. Top-line data are expected in the second half of this year. In anticipation of positive results, Clene is preparing for potential regulatory approval, including development of a new manufacturing facility in Maryland and commercialization planning. The U.S. Food and Drug Administration (FDA) has granted CNM-Au8 Orphan Drug designation in ALS.

Updated survival data from RESCUE-ALS OLE Phase 2 trial to be presented at upcoming MDA Clinical & Scientific Conference

Updated evidence for a long-term survival benefit with CNM-Au8 treatment from the RESCUE-ALS trial open label extension will be presented at the upcoming MDA Clinical & Scientific Conference March 13-16, 2022 in Nashville, TN. Observed survival in study participants was compared to the estimated median survival derived from the validated ENCALS prediction model with results significantly in favor of CNM-Au8 treatment.

Long-Term Expanded Access Program (EAP) treatment continues

Clene continues to support expanded access programs providing CNM-Au8 treatment at four clinical sites in over 50 participants with ALS. CNM-Au8 treatment has been well tolerated in this group of people with ALS who are not eligible for current clinical trials. Long-term use of CNM-Au8 now exceeds 2 years in these programs. Data from these EAPs will support potential regulatory filings with health authorities.

VISIONARY-MS Phase 2 Trial to conclude early due to COVID pandemic-related challenges. Unblinded results expected second half of 2022.

The VISIONARY-MS Phase 2 trial is evaluating the efficacy and safety of CNM-Au8 for remyelination and neurorepair in stable relapsing MS patients. The study has enrolled 73 of the 150 planned participants with chronic visual impairment typically treated with background disease-modifying therapy (DMT). MS patients on current DMTs typically have compromised immune systems. Consequently, MS clinical trials requiring multiple in-person clinic visits have experienced continued enrollment and operational challenges stemming from the ongoing COVID-19 pandemic and repeated viral variant waves.

Unblinded VISIONARY-MS data are targeted for the second half of 2022, with announcement of the next clinical trial in MS planned thereafter. Clene is currently working with the VISIONARY-MS trial investigators and participants to conclude the trial. Clene will utilize the available data collected from up to 48 weeks of clinical visits to better understand the efficacy and safety profile of CNM-Au8 and to inform further clinical development in MS.

“On behalf of Clene, I want to thank the investigators, site staff, and, most importantly, the participants and their families for their contribution to the VISIONARY-MS study. We will leverage the learnings from VISIONARY-MS to inform the design of our next Phase 2/3 clinicial trial in MS,” said Robert Glanzman MD, Clene’s Chief Medical Officer.

REPAIR-MS Phase 2 trial has been Initiated in patients with non-active, progressive MS

Following the robust target engagement results demonstrated in the REPAIR-MS Phase 2 trial in relapsing MS patients, Clene has initiated a second MS Cohort to confirm target engagement in the more severe, non-active progressive MS population. Non-active progressive MS patients currently have limited therapeutic options and high unmet need.

CNM-ZnAg Phase 2 COVID trial in Brazil completes full enrollment; top-line data expected mid-2022

Clene’s Phase 2 trial of its antiviral CNM-ZnAg in acutely symptomatic, non-hospitalized COVID-19 patients has achieved full enrollment. Top-line results are expected by mid-year 2022. Clene plans to advance CNM-ZnAg into a registration trial, contingent upon positive Phase 2 results.

About the HEALEY ALS Platform Trial

The HEALEY ALS Platform Trial is a perpetual multi-center, randomized, double-blind, placebo-controlled Phase 2/3 program designed to evaluate the efficacy and safety of multiple investigational products in people living with ALS. The HEALEY ALS Platform Trial is the first-ever platform trial in ALS and was designed to reduce trial time, costs and increase patient participation in developing novel therapies. This landmark platform trial tests multiple treatments utilizing a shared master protocol and combined placebo group data. CNM-Au8 was selected as one of the first three drugs to be evaluated. Subjects are randomized 3:1 to receive active treatment or placebo for the 24-week double-blind treatment period followed by the option to enroll in the Open Label Extension in which all subjects receive active drug. The primary endpoint is rate of change in disease severity over time as measured by the ALS Functional Rating Scale-Revised (ALSFRS-R). Secondary endpoints include change in respiratory function over time as measured by slow vital capacity and change in isometric muscle strength over time as measured using hand-held dynamometry. Top-line data are expected in 2H 2022. For more information, please see ClinicalTrials.gov Identifier: NCT04297683.

About VISIONARY-MS

VISIONARY-MS is a Phase 2 multi-center, randomized, double-blind, placebo-controlled trial evaluating the efficacy and safety of CNM-Au8 for remyelination and neurorepair in stable relapsing MS patients, with chronic visual impairment, who are allowed disease-modifying therapy. Target enrollment is 150 participants at expert MS clinical trial sites within Australia, Canada and the United States. The primary endpoint is improvement in Low Contrast Letter Acuity (LCLA) from baseline to week-24. Key secondary endpoints include improvements from baseline to week-24 in the remaining modified-Multiple Sclerosis Functional Composite (MSFC) subscales (Symbol Digit Modalities Test, 9-Hole Peg Test, and Timed 25-Foot Walk). Interim blinded data presented at the ACTRIMS Forum 2021 demonstrated exposure-dependent, statistically significant improvements in both LCLA scores and across the averaged components of the modified MSFC scale for the total study population in comparison to baseline values from the mildest sub-population (p<0.001). Unblinded top-line data are anticipated in the second half of 2022. For more information, see ClinicalTrials.gov Identifier: NCT03536559.

About CNM-ZnAg Phase 2 COVID Trial

This Phase 2 study, being implemented in Brazil, is a multicenter, randomized, double-blind, placebo-controlled study in acutely symptomatic, non-hospitalized patients, with moderately severe COVID-19 infection. The study randomized patients 1:1:2 to receive either a low or high dose of CNM-ZnAg or placebo in addition to standard supportive care. The primary endpoint of the study is the rate of hospitalizations at day 28, with secondary endpoints assessing time to symptom resolution.

About CNM-Au8®, a gold nanocrystal suspension

CNM-Au8 is an oral suspension of gold nanocrystals developed to restore neuronal health and function by increasing energy production and utilization. The catalytically active nanocrystals of CNM-Au8 drive critical cellular energy producing reactions that enable neuroprotection and remyelination by increasing neuronal and glial resilience to disease-relevant stressors. CNM-Au8® is a federally registered trademark of Clene Nanomedicine, Inc.

About CNM-ZnAg

CNM-ZnAg, a proprietary zinc-silver ionic solution, has demonstrated broad antiviral and antimicrobial activity.

About Clene

Clene is a clinical-stage biopharmaceutical company focused on revolutionizing the treatment of neurodegenerative disease by targeting energetic failure, an underlying cause of many neurological diseases. The company is based in Salt Lake City, Utah, with R&D and manufacturing operations in Maryland. For more information, please visit www.clene.com or follow us on Twitter, LinkedIn and Facebook.

Forward-Looking Statements

This press release contains “forward-looking statements” which are intended to be covered by the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Clene’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “might” and “continues,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant known and unknown risks and uncertainties, many of which are beyond Clene’s control and could cause actual results to differ materially and adversely from expected results. Factors that may cause such differences include Clene’s ability to demonstrate the efficacy and safety of its drug candidates; the clinical results for its drug candidates, which may not support further development or marketing approval; actions of regulatory agencies, which may affect the initiation, timing and progress of clinical trials and marketing approval; Clene’s ability to achieve commercial success for its marketed products and drug candidates, if approved; Clene’s ability to obtain and maintain protection of intellectual property for its technology and drugs; Clene’s reliance on third parties to conduct drug development, manufacturing and other services; Clene’s limited operating history and its ability to obtain additional funding for operations and to complete the licensing or development and commercialization of its drug candidates; the impact of the COVID-19 pandemic on Clene’s clinical development, commercial and other operations, as well as those risks more fully discussed in the section entitled “Risk Factors” in Clene’s Annual Report on Form 10-K, as well as discussions of potential risks, uncertainties, and other important factors in Clene’s subsequent filings with the U.S. Securities and Exchange Commission. Clene undertakes no obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, subject to applicable law. All information in this press release is as of the date of this press release. The information contained in any website referenced herein is not, and shall not be deemed to be, part of or incorporated into this press release.

Media Contact

Maggie Beller

Russo Partners, LLC

Maggie.Beller@RussoPartnersLLC.com

+1-646-942-5631

Investor Contact

John Woolford

Managing Director, Westwicke

clene@westwicke.com

+1-443-213-0506

EX-99.2

February 15, 2022

Forward Looking Statements This presentation contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Clene's actual results may differ from its expectations, estimates, and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "might" and "continues," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant known and unknown risks and uncertainties, many of which are beyond Clene’s control and could cause actual results to differ materially and adversely from expected results. Factors that may cause such differences include Clene’s ability to demonstrate the efficacy and safety of its drug candidates; the clinical results for its drug candidates, which may not support further development or marketing approval; actions of regulatory agencies, which may affect the initiation, timing and progress of clinical trials and marketing approval; Clene’s ability to achieve commercial success for its marketed products and drug candidates, if approved; Clene’s ability to obtain and maintain protection of intellectual property for its technology and drugs; Clene’s reliance on third parties to conduct drug development, manufacturing and other services; Clene’s limited operating history and its ability to obtain additional funding for operations and to complete the licensing or development and commercialization of its drug candidates; the impact of the COVID-19 pandemic on Clene’s clinical development, commercial and other operations, as well as those risks more fully discussed in the section the section entitled “Risk Factors” in Clene’s recently filed Quarterly Report on Form 10-Q  (filed November 8, 2021),” as well as discussions of potential risks, uncertainties, and other important factors in Clene’s subsequent filings with the U.S. Securities and Exchange Commission. Clene undertakes no obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, subject to applicable law. All information in this presentation is as of the date of presented or the date made publicly available. The information contained in any website referenced herein is not, and shall not be deemed to be, part of or incorporated into this presentation.

CLENE | Leadership Transforming the treatment of neurodegenerative disorders by restoring and protecting neurological function

CLENE | Overview September 30, 2021 Cash and restricted cash on hand (unaudited): $60.6M ALS RegistrationTrial Topline data in 2H 20222 >300patient years of CNM-Au8 clinical exposure CNM-Au8®a gold nanocrystal suspension, in development as the first cellular energetic catalyst to remyelinate1 & protect neurological function Manufacturing expansion in progress, preparing for possible commercialization in 2023 Strong IP:150+patents onClean-Surface-Nanocrystal technology (CSN®) platform Data on File, Clene Nanomedicine, Inc. 1Robinson et al. Sci Rep. 2020 Feb 11;10(1):1936.2https://clinicaltrials.gov/ct2/show/NCT04414345.

CLENE | Pipeline

Fu, H., et al; Nature Neuroscience (2018) 21: 1350-1358. Zhu et al. Proc Natl Acad Sci USA . 2015 Mar 3;112(9):2876-81. Rone et al. J Neurosci. 2016 Apr 27;36(17):4698-707. Neurons With High Energetic Demand Are At Increased Risk For Neurodegenerative Disease ~0.5% NAD+/NADH unit decline per decade (~0.13 mV units per year by 31P-MRS Imaging) Brain Energy Potential Declines With Normal Aging Closed squares = averaged data by age group: 21–26 yrs, 33–36 yrs, and 59–68 yrs old; Open squares= individual subject values PARKINSON’S DISEASE Dopaminergic Neurons AMYOTROPHIC LATERAL SCLEROSIS Motor Neurons HUNTINGTON’S DISEASE Medium Spiny Neurons FRONTOTEMPORAL DEMENTIA Spindle Neurons Specific Neuronal Populations Are Vulnerable to Energetic Failure MULTIPLE SCLEROSIS Axonal Degeneration

Vertices, Edges, & Facets Key to Catalytic Activity CNM-Au8 Catalytically Active Nanocrystal Suspension Clean Surfaced, Highly Faceted Shape Enhances Catalytic Activity CNM-Au8 Nanocrystal CNM-Au8® | Catalytically-Active NanocrystalsIntersection of Physics and Biology Electron Sharing Drives Catalytic Activity 60 mL per bottle (once daily)

CNM-Au8Nanocrystal Mechanistic Effects Improved Energy Production and Utilization Promotes Neuroprotection and Remyelination CNM-Au8® | Improves Energy Production to Promote Neuroprotection and Remyelination

CNM-Au8® | Preclinical Evidence for Energetic ImprovementTherapeutic Activity Across Remyelination + Neuroprotection Models Data on File, Clene Nanomedicine, Inc. Robinson et al. Sci Rep. 2020 Feb 11;10(1):1936. MN Neuroprotection ALS SOD1, In Vitro Forebrain Neuroprotection C9ORF72 In Vitro Alzheimer’s Disease Induced Neurons In Vitro

CNM-Au8® | Significant Global Opportunity Source: Lancet Neurol. 2018 Nov;17(11):939-953; ~6.1M patients globally, data as of 2016..  PARKINSON’S DISEASE ~6.1M pts globally; $6B projected by 20263 2ND most common neurodegenerative disorder; only symptomatic treatments Source: Lancet Neurol. 2018 Dec;17(12):1083-1097. MND includes amyotrophic lateral sclerosis, spinal muscular atrophy, hereditary spastic paraplegia, primary lateral sclerosis, progressive muscular atrophy, and pseudobulbar palsy MOTOR NEURON DISEASE (ALS, Other Orphan Disorders) ALS sales >$1B globally by 20291. Current drugs are largely ineffective, mostly generic Source: Lancet Neurol. 2019 Mar;18(3):269-285; ~2.2.M patients globally, data as of 2016 MULTIPLE SCLEROSIS ~2.2M pts globally; $23B market2 Only approved treatments are immunomodulators 1 Clarivate, DRG, ALS 2020. 2 Westad et al. 2017, doi:10.1038/nrd.2017.107;. 3 Parkinson’s Market Data Forecast, April 2021.

CNM-Au8® | Neuroprotection & Remyelination Data on File, Clene Nanomedicine, Inc. Phase 2 and Phase 3 Clinical Trials CNM-Au8 treatment effect on ALS disease progression Ongoing Established brain target engagement & safety Planned: Demonstrate Disease Modification Concluded enrollment due to COVID Established brain target engagement & safety Key Findings Disease Clinical Trials Q4 2021 Q3 2021 Q1 2022 Q2 2022 Q3 2022+ Establish target engagement & safety in non-active, progressive MS population

CNM-Au8® | Safety Summary Over 300 Years of Subject Exposure Without Any Safety Signals Patient Exposure Across PD, MS, & ALS Long-term dosing experience up to 125 weeks All Animal Toxicology Studies Resulted in No-Adverse Effect Level (NOAEL) Findings Clean Toxicology Findings Multiple species up to 9-months treatment Up to maximum feasible dosing without any toxicology findings related to CNM-Au8 Assessed as Predominantly Mild-to-Moderate Severity and Transient Well Tolerated Adverse Event (AE) Profile No related CNM-Au8 AEs leading to discontinuation of treatment No SAEs related to CNM-Au8 considered severe, life-threatening, or resulting in death Data on File, Clene Nanomedicine, Inc.

Difference in brain NAD+ and NADH fraction at Week 12 (End of Treatment) Difference in bioenergetic metabolites (e.g., ATP, NAD) concentration at Week 12 – 16 Difference in brain membrane markers (PE, PC, etc.) at Week 12 – 16 Change in Brain Bioenergetic Potential (NAD+/NADH) vs. Baseline 1 2 CNM-Au8 Effects on Brain Energetic Metabolites A Phase 2, Open Label, Sequential Group, Investigator Blinded Study of Magnetic Resonance Spectroscopy (31P-MRS) to Assess the Effects of CNM-Au8 for the Bioenergetic Improvement of Impaired Neuronal Redox State (REPAIR) N = Up to 15 per dosing cohort (7.5, 15, 30, or 60 mg) Phase 2 Exploratory Stable Relapsing MS Early Parkinson’s Disease Clinic Visit Safety Clinic Visit Safety Clinic Visit Primary Endpoint 31P-MRS Scan Clinic Visit Follow-up 31P-MRS Scan Baseline Visit 31P-MRS Scan + 4-6 weeks Data on File, Clene Nanomedicine, Inc. Non-Active Progressive MS (Underway) Non-active, progressive MS patients is more severe than relapsing MS., and a high unmet need for disease modifying therapeutic options Day 0

CNM-Au8 Improves Brain Energy Metabolism Increases NAD+/NADH Ratio in MS & PD Phase 2 Results 1° Endpoint 2° Endpoint NAD is an essential molecule responsible for cellular energy production Exploratory (ATP Normalization) Glanzman et al. 2021. International Parkinson and Movement Disorder Society (MDS) Virtual Congress 2021. September 17 – 22, 2021 . Data on File, Clene Nanomedicine, Inc.

(January 2020); FPFV 16-Jan-2020; 45 of 42 enrolled (Nov-2020) Phase 2 1 Study was powered for MUNIX primary endpoint Neurophysiology MUNIX1 Pulmonary Function Forced Vital Capacity Function & QoL ALSFRS-R, ALSSQOL-SF Disease Progression & Survival Vucic et al. BMJ Open. 2021 Jan 11;11(1):e041479. Data on File, Clene Nanomedicine, Inc.

| Pioneered Use of MUNIX Biomarker Primary Endpoint: Spinal Cord Lower Motor Neuron Protection Muscle Fibers Spinal Cord Motor Neuron Bulbar Onset ALS (Brainstem) Limb Onset ALS (Spinal Cord) Primary Endpoint: Spinal Cord Lower Motor Neuron Motor Unit Index (MUNIX) Sum Biceps brachii Tibialis Anterior Abductor Pollicis Brevis Abductor Digiti Minimi + + + Motor Units MUNIX biomarker estimates the number of functioning lower motor neurons serving specific muscles Vucic et al. BMJ Open. 2021 Jan 11;11(1):e041479.

| Evidence for Motor Neuron Protection Primary Endpoint (MUNIX %, LS Mean Change) All Randomized All Placebo Limited Rate of MUNIX Decline in Bulbar Onset Insufficient Spinal Cord Lower Motor Neuron Progression in Early Bulbar Trial Participants RESCUE-ALS: A Phase 2, randomized, double-blind, placebo-controlled study of CNM-Au8 to slow disease progression in ALS. MNDA Virtual Symposium, 2021 Data on File, Clene Nanomedicine, Inc. +45%

| Significant Impact on ALSFRS-R Decline Exploratory (ALSFRS-R Responder Analysis, < 6-point decline) All Randomized All Bulbar All Limb Sensitivity RESCUE-ALS: A Phase 2, randomized, double-blind, placebo-controlled study of CNM-Au8 to slow disease progression in ALS. MNDA Virtual Symposium, 2021 Data on File, Clene Nanomedicine, Inc.

| Significant Quality of Life Improvement Exploratory (ALS Specific QOL-SF) All Randomized RESCUE-ALS: A Phase 2, randomized, double-blind, placebo-controlled study of CNM-Au8 to slow disease progression in ALS. MNDA Virtual Symposium, 2021 Data on File, Clene Nanomedicine, Inc.

| Significant Impact on ALS Disease Progression Exploratory Endpoint (Disease Progression) 1ALS Disease Progression defined as: Death, or Tracheostomy, or Non-invasive ventilation, or Gastrostomy tube All Bulbar All Limb Sensitivity RESCUE-ALS: A Phase 2, randomized, double-blind, placebo-controlled study of CNM-Au8 to slow disease progression in ALS. MNDA Virtual Symposium, 2021 Data on File, Clene Nanomedicine, Inc. All Randomized

| Joint Rank: Survival & ALSFRS-R Scoring Berry et al. Amyotroph Lateral Scler Frontotemporal Degener. 2013 Apr;14(3):162-8.  ALSFRS-R Decline Survival CAFS All Randomized Exploratory Endpoint Pre-specified (Combined Assessment of Survival and Function [CAFS]) Score participants based on relative function or time of death

| Impact on Joint Rank Score to Wk36 Post Hoc (Combined Assessment of (i) Survival, (ii) King’s Clinical Stage 4, (iii) ALSFRS-R) Data on File, Clene Nanomedicine, Inc. ALSFRS-R Decline Survival Non-Invasive Ventilation Gastrostomy Tube King’s Clinical Stage 4 By Average of Summated Scores

| Potential Impact on Survival Exploratory Endpoint (Observed Survival vs. Median Predicted) ENCALS Predicted Median Survival Observed Survival Data on File, Clene Nanomedicine, Inc.

| Well Tolerated & No Safety Signals Data on File, Clene Nanomedicine, Inc. No CNM-Au8 related serious adverse events (SAEs) No CNM-Au8 related drug discontinuations No imbalances in treatment emergent adverse event (TEAEs) by system organ class TEAEs were predominantly mild-to-moderate and transient Most common TEAEs associated with CNM-Au8 (aspiration pneumonia, n=3; nausea, n=2; abdominal discomfort, n=2) Safety Summary

Exploratory Endpoints Combined Joint Rank (Survival + ALSFRS-R) Voice pathology PRO (ALSAQ) Pharmacodynamic markers Slow Vital Capacity Hand-Held Dynamometry Survival Change in ALSFRS-R Registration Study: 24-Week Treatment Period (3:1 randomization, 120 active [30mg, 60mg]: 40 placebo) 1 2 Phase 3 Anticipated full unblinded data readout: 2H 2022

Exploratory Endpoints Treatment of Visual Pathway Deficits In Chronic Optic Neuropathy for Assessment of Remyelination in Non-Active Relapsing MS Change in Low Contrast Letter Acuity (LCLA)At Week 24 Up to 48-Week Placebo-Control 2:1 Randomization (Active: Placebo) 15mg, 30mg, Placebo (n=73 of 150) Optical Coherence Tomography (OCT) Multi-focal VEP Amplitude & Latency Full field-VEP Amplitude & Latency MRI Endpoints Visual Function (High Contrast) QOL / EDSS 1 2 Change Composite Clinical Response 9HPT / SDMT / T25FW / LCLA Phase 2 -42 to -1 24-Week Blinded Fixed Treatment Period Up to 24-Week Blinded Extension Period (Until LPLV 24Wk Visit) LPLV *Subject to ongoing COVID-19 related site research restrictions generally implemented to protect MS patients taking standard-of-care immunosuppressive therapies Anticipated top-line unblinded data: 2H 2022 Insights to inform new Phase 2/3 MS trial

LCLAPhase 2 Primary:Functional Visual Improvement LCLA Correlates with clinically meaningful deficits in QOL, EDSS and MSFC, MRI, and OCT1 MS Functional Endpoints Phase 2 Exploratory: Neuroprotection/Remyelination Endpoints The Visual System is a Window into the Brain 9-Hole Peg Test Symbol Digit Modalities Timed 25-Ft Walk Measuring MS Functional Improvement 1Balcer et la. Mult Scler. 2017 Apr;23(5):734-747. doi: 10.1177/1352458517690822.

Significant Clinical Improvement Across Blinded Study Population Primary Endpoint: LCLA (Best-Corrected) & Secondary Endpoint: (m)MSFC Phase 2 2° | (m)MSFC 1° | LCLA Glanzman et al. VISIONARY-MS: Update to a Phase 2 clinical trial of catalytic gold nanocrystals, CNM-Au8; ECTRIMS 2021 – Late Breaking News ePoster, October 12, 2021

Proportion of participants who require COVID-19 related hospitalization, or died at Day 28 Secondary Endpoint Exploratory Endpoints Primary Endpoint Time to substantial alleviation of COVID-19 symptoms through Day 28 Number of hospital free days through Day 28 Mean change in SARS-CoV-2 viral load Change in oxygen saturation slope Change in Global Impression (severity and change)

Trade Secrets Patent Status b Patent Description Issued & Allowed Patents 150+ Pending Applications ~20 Total Patents/ Applications >170 Process AndMethod/Device (Clean Surface; Gold CSN) State of Matter (CNM-Au8) Method of Use (Prevent Demyelination & MoA) Method of Use (Bi-Metallic Au/Pt; Antimicrobial) Plasma Conditioning Electrode Design & Cycling Trough Flow, Temp, Pressure Concentration & Filtration Strong Intellectual Property Extensive Patent Portfolio With Protection Through 2035 a & Proprietary Trade Secrets; Plus 7-year Orphan Drug Designation a With Patent Restoration Term (assuming 5-year extension). b As of 30-Sepbember-2021. CSN® Clean surface nanocrystal (CSN) therapeutics

Clene | Proprietary Nanocrystal Manufacturing In-House ISO8 Clean Room Clinical Production in Maryland Designed to be Scalable to Commercialization Validated CMC Processes Patented Hydro-electro- Crystallization Proprietary Trade Secrets

Anticipated Timeline & Upcoming Milestones 2020 - 2024 VISIONARY-MS

Nanotherapeutics Platform Potential first-in-class nanotherapeutic with high catalytic activity to drive energy production and utilization in stressed CNS cells Applications across neurology, infectious disease, and oncology Lead Asset: CNM-Au8 for Neurorepair CNM-Au8 improves cellular energy production and utilization to promote neuroprotection and remyelination Phase 2 ALS proof-of-concept evidence of clinical meaningful benefit Phase 3 Healey ALS platform trial results expected in 2H 2022 Phase 2 VISIONARY-MS trial results expected 2H 2022 Strong Execution Capabilities Proprietary electrochemical manufacturing process produces nanotherapeutics, scalable to commercialization Strong IP, including 150+ granted patents, and trade secrets CLENE | Company Highlights

©2022 Clene Inc. Version: 15-February-2022 Clene Inc. HQ & Clinical Development 6550 South Millrock Drive, Suite G50 Salt Lake City, UT 84121 R&D and Manufacturing 500 Principio Parkway, Suite 400 North East, MD 21901

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Entity Address, City or Town	Salt Lake City
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84121
City Area Code	801
Local Phone Number	676-9695
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Common Stock, par value US$0.0001 per share
Title of 12(b) Security	Common Stock, par value US$0.0001 per share
Trading Symbol	CLNN
Security Exchange Name	NASDAQ
Warrants, to acquire one-half of one share of Common Stock for $11.50 per share
Title of 12(b) Security	Warrants, to acquire one-half of one share of Common Stock for $11.50 per share
Trading Symbol	CLNNW
Security Exchange Name	NASDAQ