EF Hutton initiated coverage of Clene with a Buy rating and $13 price target. Clene is developing CNM-Au8, a concentrated suspension of gold nanoparticles, for the treatment of amyotrophic lateral sclerosis, or ALS, multiple sclerosis, or MS, and Parkinson’s disease, or PD, the analyst tells investors. Clene plans to explore accelerated approval, based on existing data, while committing to conduct a Phase 3 trial, noted the firm, which arrive at its 12-month price target by assessing the after-tax, risk-adjusted NPV of potential future cash flows from the company’s ALS and MS programs.
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