Cellectar Biosciences Reports $5.7M Net Loss and Decreased Operating Expenses for Q1 2026

Cellectar Biosciences, Inc. reported a net loss of approximately $5.7 million for the three months ended March 31, 2026, a decrease from a net loss of about $6.6 million during the same period in 2025. The company's total operating expenses for the quarter were approximately $5.8 million, down from $6.4 million in the prior year. Research and development expenses decreased by 12% to approximately $3.0 million, primarily due to reduced clinical project costs and preclinical project costs, offset by increased manufacturing expenses. General and administrative expenses also saw a decline, totaling approximately $2.8 million compared to $3.0 million in the previous year.

Cellectar's financial position has changed significantly, with total assets decreasing to approximately $11.1 million as of March 31, 2026, down from $15.0 million at the end of 2025. The company's cash and cash equivalents were reported at approximately $8.3 million, a decrease from $13.2 million at the end of the previous fiscal year. The accumulated deficit increased to approximately $275 million, reflecting the ongoing investment in research and development activities. The company has indicated that it will continue to rely on external funding to support its operations and development plans.

Strategically, Cellectar is focused on advancing its lead product candidate, iopofosine I 131, which has received Breakthrough Therapy Designation from the FDA for the treatment of relapsed/refractory Waldenstrom macroglobulinemia. The company is preparing to initiate a Phase 3 confirmatory trial for this candidate, which is a critical step toward submitting a New Drug Application (NDA) for accelerated approval. Additionally, Cellectar has initiated a Phase 1b study for CLR 125, targeting triple-negative breast cancer, and is advancing CLR 225, an alpha-emitting radioconjugate, through preclinical evaluations.

Cellectar's operational metrics indicate a focus on clinical development, with ongoing studies in various cancer types. The company has reported a significant response rate in its CLOVER WaM Phase 2b trial, achieving an overall response rate of 83.6% in heavily pretreated patients. However, the company faces challenges in securing sufficient funding to support its clinical trials and operational needs. Management has outlined plans to enhance liquidity through additional capital raises and strategic transactions, although uncertainties remain regarding the execution of these plans and the company's ability to continue as a going concern.