CLRB · Cellectar Biosciences, Inc.

Cellectar Biosciences reported its first quarter 2026 financial results, highlighting a net loss of $5.7 million, or $1.33 per share, compared to a net loss of $6.6 million, or $4.30 per share, in the same period last year. The improvement was driven by lower operating expenses, with R&D expenses decreasing to $3.0 million from $3.4 million and G&A expenses declining to $2.8 million from $3.0 million. The company ended the quarter with $8.3 million in cash, which does not reflect the net proceeds of approximately $31 million from a May 2026 financing. Management believes the cash position, combined with the new funds, is adequate to fund operations into the second quarter of 2027, including initiation costs for the iopofosine I 131 confirmatory study.

Operationally, the company reported positive 12-month follow-up data from the Phase 2b CLOVER-WaM study of iopofosine I 131 in relapsed/refractory Waldenström Macroglobulinemia, achieving a major response rate of 61.8% and a median duration of response of 17.8 months. These data align with FDA expectations for accelerated approval submission and support plans to initiate a Phase 3 confirmatory trial. Additionally, the company completed a financing of up to $140 million, including $35 million upfront, led by Nantahala Capital and other institutional investors, to support regulatory milestones and potential commercialization. The company also dosed the first patients in a Phase 1b study of CLR 125 in triple negative breast cancer, with early data expected mid-year 2026. These developments underscore the company's progress in advancing its radiopharmaceutical pipeline.