Clene Inc. (CLNN) Reports Q3 Loss, Misses Revenue Estimates

Financial Performance - Clene Inc. reported a quarterly loss of $1.22 per share, which was better than the Zacks Consensus Estimate of a loss of $1.34, representing an earnings surprise of 8.96% [1] - The company posted revenues of $0.09 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 17.14%, compared to revenues of $0.11 million a year ago [2] - Over the last four quarters, Clene has surpassed consensus EPS estimates three times [2] Stock Performance - Clene shares have declined approximately 10.7% since the beginning of the year, while the S&P 500 has gained 25.5% [3] - The current status of estimate revisions for Clene is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is -$1.24 on revenues of $0.22 million, and for the current fiscal year, it is -$5.26 on revenues of $0.48 million [7] - The outlook for the industry, specifically the Medical - Biomedical and Genetics sector, is favorable, ranking in the top 26% of over 250 Zacks industries, which historically outperforms the bottom 50% by a factor of more than 2 to 1 [8]