Cellectar Biosciences Q1 net loss narrows, completes $140 mln financing

Cellectar Biosciences

14/05/2026 12:23

Overview

US biopharma firm's Q1 net loss narrowed from prior year

Company completed financing of up to $140 mln to support lead drug and regulatory plans

Positive 12-month follow-up data for iopofosine I 131 in Waldenström Macroglobulinemia supports Phase 3 plans

Outlook

Company plans to initiate Phase 3 confirmatory trial of iopofosine I 131 in WM

Company expects to provide CLR 125 safety and efficacy updates mid-year 2026

Company believes cash and recent financing will fund operations into Q2 2027

Result Drivers

CLINICAL DATA - Positive 12-month follow-up results for iopofosine I 131 in Waldenström Macroglobulinemia supported plans for a Phase 3 trial and regulatory filings

COST REDUCTIONS - Lower R&D and G&A expenses were mainly due to reduced clinical, preclinical, and personnel costs

Company press release: ID:nGNX2zqLXN

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
-$1.33
Q1 Net Income
-$5.65 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the pharmaceuticals peer group is "buy"

Wall Street's median 12-month price target for Cellectar Biosciences Inc is $10.50, about 257.1% above its May 13 closing price of $2.94

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)