Why Shares of Clene Jumped 11.8% on Monday

Clene (NASDAQ: CLNN), a clinical-stage biopharmaceutical company that focuses on neurodegenerative diseases, saw its shares rise 11.8% on Monday. The stock is up more than 17% so far this year.

Investors have been pushing up the stock since Clene's announcement on Thursday regarding positive early data from a phase 2 trial for its therapy CNM-Au8 in patients with amyotrophic lateral sclerosis (ALS), commonly known as Lou Gehrig's disease.

ALS is a neurodegenerative disease that affects spinal-cord and brain nerve cells, causing patients to gradually lose the ability to control muscle movement, leading to paralysis and death.

Source Fool.com