Cellectar Biosciences Q3 net loss widens on higher R&D costs
CLRB•Cellectar Biosciences reported a third-quarter net loss of $8 million, or $0.46 per share, as higher research and development costs widened its year-over-year loss. The company said its cash balance should fund operations into the second quarter of 2027.
1. Quarterly results
Cellectar Biosciences’ third-quarter net loss widened year over year to $8 million, with a loss of $0.46 per share. Higher research and development expenses were driven by preparations for a Phase 3 trial of iopofosine I 131 in Waldenström macroglobulinemia and ongoing work on its Phase 1b CLR 125 trial in triple-negative breast cancer.
2. Trials and cash outlook
The company is on track to dose the first patients in the Phase 3 iopofosine I 131 trial in the first quarter of 2027 and plans to seek accelerated FDA approval for the drug in the first half of 2027. It said its cash balance is sufficient to fund operations into the second quarter of 2027.
