The Bully Wee were not at their best in the first period, with Cowdenbeath having the better of the opportunities.
Clyde were limited to only a few chances with Jordan Stewart’s free-kick turned round the post by Joe McGovern and David Goodwillie denied on the stroke of half-time when through on goal.
The second half was much livelier and Clyde’s Max Wright had a great chance on the hour mark but found Cowden stopper McGovern in good form again.
McGovern, brother of Northern Ireland’s Michael, was on hand again on 70 minutes to tip captain Kevin Nicoll’s header over the bar.
The deadlock was broken by Clyde when substitute Smart Osadolor scored from six yards after a nice run and set-up from Scott Ferguson.
Two minutes later and there was a great ovation for Jordan Lowdan as he appeared in a Clyde shirt for the first time in over a year.
On 83 minutes there was a great chance for Cowden. A corner whipped in was headered and appeared to be cleared off the line by Barry Cuddihy’s arm - with the visiting players furious with referee Craig Charleston.
In the 90th minute, potentially with the referee looking to even things up, Cowden were awarded a penalty. To add to the misery, Jack Breslin received a second booking for arguing the decision.
Scott Ferguson went diving in on Harvey Swann and Charleston pointed to the spot with 20-year-old Swann scoring his first professional goal to earn his side a point.
Jim Chapman said: “Having watched the game back, it’s a stonewall dive for their penalty and it was outside the box. But we gave the ref a decision to make and that’s what we can be annoyed about.”