Clene price target lowered to $7 from $11 at Benchmark

Benchmark lowered the firm’s price target on Clene to $7 from $11 and keeps a Buy rating on the shares due to new share count assumptions after updating the firm’s model for recent filings, including some recent financing activity that the firm says "can help the company to make it into 2024." The company plans to conduct end of Phase 2 meetings with the FDA during Q3 to discuss the regulatory pathway forward for CNM-Au8 in ALS and MS, which the firm identifies as the next catalyst for the stock.