SCHEDULE 13G/A 0001535264 XXXXXXXX LIVE 3 Common Stock 09/30/2025 0001822791 Clene Inc. 185634201 6550 SOUTH MILLROCK DRIVE, SUITE G50 SALT LAKE CITY UT 84121 Rule 13d-1(b) AWM Investment Company, Inc. DE 500000.00 0.00 500000.00 0.00 500000.00 4.7 IA AWM Investment Company, Inc., a Delaware corporation (AWM), is the investment adviser to Special Situations Cayman Fund, L.P. (CAYMAN), Special Situations Fund III QP, L.P. (SSFQP) and Special Situations Life Sciences Fund, L.P. (SSLS). (CAYMAN, SSFQP, and SSLS will hereafter be referred to as the Funds). As the investment adviser to the Funds, AWM holds sole voting and investment power over 10,000,000 Warrants*** to purchase 500,000 Shares of Common Stock. Clene Inc. 6550 SOUTH MILLROCK DRIVE, SUITE G50, SALT LAKE CITY, UTAH, 84121 The person filing this report is AWM Investment Company, Inc., a Delaware corporation (AWM), which is the investment adviser to Special Situations Cayman Fund, L.P., a Cayman Islands Limited Partnership (CAYMAN), Special Situations Fund III QP, L.P., a Delaware limited partnership (SSFQP) and Special Situations Life Sciences Fund, L.P., a Delaware limited partnership (SSLS). The principal business of each Fund is to invest in equity and equity-related securities and other securities of any kind or nature. David M. Greenhouse (Greenhouse) and Adam C. Stettner (Stettner) are members of: SSCayman, L.L.C., a Delaware limited liability company (SSCAY), the general partner of CAYMAN; MGP Advisers Limited Partnership, a Delaware limited partnership (MGP), the general partner of SSFQP and LS Advisers, L.L.C., a New York limited liability company (LS). Greenhouse and Stettner are also controlling principals of AWM. 527 Madison Avenue, Suite 2600 New York, NY 10022 AWM is a Delaware Corporation Y 500,000 4.7 AWM is the investment adviser to each of the Funds. As the investment adviser to the Funds, AWM holds sole voting power 5,382,426 Warrants*** to purchase 269,121 Shares of Common Stock held by SSFQP, 1,617,574 Warrants*** to purchase 80,879 Shares of Common Stock held by CAYMAN and 3,000,000 Warrants*** to purchase 150,000 Shares of Common Stock held by SSLS. Greenhouse and Stettner are members of: SSCAY, the general partner of CAYMAN; MGP, the general partner of SSFQP; MG, the general partner of SSPE; and LS, the general partner of SSLS. Greenhouse and Stettner are also controlling principals of AWM. *** The Warrants described herein may only be exercised to the extent that the total number of Common Shares then beneficially owned does not exceed 9.99% of the outstanding shares. 0 AWM is the investment adviser to each of the Funds. As the investment adviser to the Funds, AWM holds sole investment power over 5,382,426 Warrants*** to purchase 269,121 Shares of Common Stock held by SSFQP, 1,617,574 Warrants*** to purchase 80,879 Shares of Common Stock held by CAYMAN and 3,000,000 Warrants*** to purchase 150,000 Shares of Common Stock held by SSLS. Greenhouse and Stettner are members of: SSCAY, the general partner of CAYMAN; MGP, the general partner of SSFQP; MG, the general partner of SSPE; and LS, the general partner of SSLS. Greenhouse and Stettner are also controlling principals of AWM. *** The Warrants described herein may only be exercised to the extent that the total number of Common Shares then beneficially owned does not exceed 9.99% of the outstanding shares. 0 Y N Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. AWM Investment Company, Inc. Adam Stettner 09/30/2025