Earnings ·
Reports Q3 net loss of $0.46 per share as R&D costs rise with Phase 3 trial preparations
CLRBCellectar Biosciences, Inc.
Cellectar Biosciences reported a third-quarter net loss attributable to common stockholders of $8.0 million, or $0.46 per share, compared to a $4.4 million loss in the prior-year period. Research and development expenses increased to approximately $5.4 million from $2.5 million, driven by the initiation of the Phase 3 confirmatory trial for iopofosine I 131 and activity in the CLR 125 program. The company holds $24.6 million in cash, sufficient to fund operations into mid-2027. Clinically, Cellectar presented data supporting an accelerated approval strategy for iopofosine I 131 in Waldenström macroglobulinemia and plans to dose the first Phase 3 patient in early 2027. Cellectar Biosciences is a late-stage clinical biopharmaceutical company focused on developing cancer therapies using its proprietary Phospholipid Drug Conjugate platform.