7 Best Nanotech Penny Stocks to Invest In

4. Clene Inc. (NASDAQ:CLNN)

Number of Hedge Fund Holders: 2

Share Price as of February 11: $4.52

Clene Inc. (NASDAQ:CLNN) is a clinical-stage pharmaceutical company that develops novel clean-surfaced nanotech (CSN) therapeutics. Its lead candidate, CNM-Au8 is a gold nanoparticle suspension. It’s being investigated for neurodegenerative diseases like ALS and Parkinson’s, as well as optic neuropathy. It’s also developing silver and zinc-based nanoparticle treatments for infectious diseases and wound healing.

It has a lot of focus on CNM-Au8, which is a nanomedicine designed to treat neurodegenerative diseases by improving mitochondrial health and protecting neuronal function. It’s an oral suspension of gold nanocrystals. The company’s immediate priority is securing regulatory approval for CNM-Au8 in amyotrophic lateral sclerosis (ALS). To support its approval, Clene Inc. (NASDAQ:CLNN) is gathering additional data, specifically focusing on Neurofilament Light (NfL) biomarker data. This data is being collected from ongoing Expanded Access Protocols (EAPs) and the HEALEY ALS Platform Trial. The company plans to submit an NDA for ALS in mid-2025.

The company reported $14.6 million in cash, cash equivalents, and marketable securities as of Q3 2024. Following this reporting period, Canaccord analyst Sumant Kulkarni reduced the company’s price target from $86 to $83 in November, while maintaining a Buy rating. Canaccord cited the lack of information about the Q3 meeting’s outcome as a factor to watch, as it could impact the stock price in the near term.