Cellectar Biosciences reported a net loss of $6.9 million ($0.57 per share) for the quarter ended June 30, 2026, compared to a $5.4 million loss in the prior year period. Cash and cash equivalents increased to $34.0 million from $13.2 million at year-end 2025, reflecting approximately $31.7 million in net proceeds from a May 2026 registered direct offering of common stock and warrants totaling up to $140 million. Research and development expenses rose to $4.6 million as the company initiated site activation for its confirmatory Phase 3 trial of iopofosine I-131 in Waldenström macroglobulinemia, with first patient dosing expected in early 2027 and a New Drug Application planned for mid-2027 under FDA Accelerated Approval. The company also began enrollment in the Phase 1b trial of CLR 125 for triple-negative breast cancer. Cellectar Biosciences is a late-stage clinical biopharmaceutical company focused on developing proprietary phospholipid drug conjugate therapies for cancer.

At its Annual Meeting on July 7, 2026, Cellectar Biosciences stockholders approved an increase of 2,000,000 shares reserved for issuance under the 2021 Stock Incentive Plan. Stockholders also approved the exercise of warrants to purchase up to 39,618,078 shares of common stock under Nasdaq rules. Additionally, Andrew Gu and Douglas J. Swirsky were elected as Class III directors, and the appointment of Deloitte & Touche LLP as the independent auditor for fiscal year 2026 was ratified. The company is a biopharmaceutical company that develops targeted radiopharmaceuticals for cancer treatment.