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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenue:        
Total revenue $ 110 $ 98 $ 524 $ 177
Operating expenses:        
Cost of revenue 14 812 58
Research and development 6,146 3,994 18,893 10,750
General and administrative 4,400 1,795 16,739 3,623
Total operating expenses 10,560 5,789 36,444 14,431
Loss from operations (10,450) (5,691) (35,920) (14,254)
Other income (expense), net:        
Interest income (expense) 80 (367) (497) (608)
Gain on extinguishment of notes payable 647
Loss on extinguishment of convertible notes payable (540) (540)
Gain on termination of lease 51
Change in fair value of preferred stock warrant liability (5,071) (7,378)
Change in fair value of derivative liability 15 29
Change in fair value of Clene Nanomedicine contingent earn-out 35,042 18,072
Change in fair value of Initial Shareholders contingent earn-out 3,439 1,710
Change in fair value of common stock warrant liability 414 547
Australia research and development credit 364 1,343 1,078 2,611
Other income (expense), net (14) 16 (13) 34
Total other income (expense), net 39,325 (4,604) 21,544 (5,801)
Net income (loss) before income taxes 28,875 (10,295) (14,376) (20,055)
Income tax benefit 69 213
Net income (loss) 28,944 (10,295) (14,163) (20,055)
Other comprehensive income (loss):        
Foreign currency translation adjustments (87) 2 (124) 18
Total other comprehensive income (loss) (87) 2 (124) 18
Comprehensive income (loss) $ 28,857 $ (10,293) $ (14,287) $ (20,037)
Net income (loss) per common share attributable to common shareholders (Note 19)(1):        
Basic (in Dollars per share) [1] $ 0.47 $ (0.59) $ (0.23) $ (1.16)
Diluted (in Dollars per share) [1] $ 0.42 $ (0.59) $ (0.23) $ (1.16)
Weighted average number of common shares outstanding(1):        
Basic (in Shares) [1] 62,071,754 17,358,159 61,307,699 17,358,159
Diluted (in Shares) [1] 70,038,634 17,358,159 61,307,699 17,358,159
Product revenue        
Revenue:        
Total revenue $ 63 $ 81 $ 400 $ 160
Royalty revenue        
Revenue:        
Total revenue $ 47 $ 17 $ 124 $ 17
[1] Retroactively restated for the three and nine months ended September 30, 2020 for the Reverse Recapitalization as described in Note 3