The most common and most likely answer to this crossword clue is the 10 letter word SMOULDERED
I've seen this crossword clue in The Times
S
M
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More clues leading to the result SMOULDERED
Buddy explains!

The straight part
We know that "nearly burned" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case nearly burned = smouldered.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does SMOULDERED mean?
SMOULDERED verb- To burn with no flame and little smoke.
- To show signs of repressed anger or suppressed mental turmoil or other strong emotion, such as passion.
- To exist in a suppressed or hidden state.
- To smother; to suffocate; to choke.