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Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue:        
Total revenue $ 35 $ 201 $ 65 $ 414
Operating expenses:        
Cost of revenue 0 555 0 798
Research and development 9,166 6,472 17,746 12,747
General and administrative 4,464 6,949 9,250 12,339
Total operating expenses 13,630 13,976 26,996 25,884
Loss from operations (13,595) (13,775) (26,931) (25,470)
Other income (expense), net:        
Interest expense (751) (26) (1,533) (577)
Gain on extinguishment of notes payable 0 0 0 647
Gain on termination of lease 0 0 420 0
Change in fair value of common stock warrant liability 20 133 2 133
Change in fair value of Clene Nanomedicine contingent earn-out 8,310 8,640 8,253 (16,970)
Change in fair value of Initial Shareholders contingent earn-out 1,066 1,232 1,054 (1,729)
Australia research and development credit 356 375 655 714
Other income (expense), net 60 (2) 192 1
Total other income (expense), net 9,061 10,352 9,043 (17,781)
Net loss before income taxes (4,534) (3,423) (17,888) (43,251)
Income tax benefit 0 72 0 144
Net loss (4,534) (3,351) (17,888) (43,107)
Other comprehensive loss:        
Unrealized loss on available-for-sale securities (37) 0 (87) 0
Foreign currency translation adjustments (110) (61) (60) (37)
Total other comprehensive loss (147) (61) (147) (37)
Comprehensive loss $ (4,681) $ (3,412) $ (18,035) $ (43,144)
Net loss per share-- basic $ (0.07) $ (0.05) $ (0.28) $ (0.71)
Net loss per share-- diluted $ (0.07) $ (0.05) $ (0.28) $ (0.71)
Weighted average common shares used to compute basic net loss per share 63,335,271 61,165,018 63,095,400 60,919,340
Weighted average common shares used to compute diluted net loss per share 63,335,271 61,165,018 63,095,400 60,919,340
Product revenue        
Revenue:        
Total revenue $ 2 $ 138 $ 9 $ 337
Royalty revenue        
Revenue:        
Total revenue $ 33 $ 63 $ 56 $ 77