Monitor for Phase 3 site openings and first patient dosing in early 2027, as well as the mid-2027 NDA submission for iopofosine I 131 — these are the next binary catalysts. The $34M cash runway into Q2 2027 provides visibility but the company will likely need additional financing before potential approval.
Price Chart
Executive Summary
Cellectar Biosciences reported Q2 2026 net loss of $6.9M ($0.57/share) vs $5.4M ($3.39/share) in Q2 2025, with R&D spend rising to $4.6M as the company initiated site activation for the Phase 3 confirmatory trial of iopofosine I 131. Cash balance improved to $34.0M post the May 2026 $31.7M net offering, extending runway into Q2 2027. The filing is neutral — a pre-revenue clinical biotech executing on its pipeline with no revenue, no guidance, and no binary catalyst in this quarter's results.
Key Financial Metrics
Key Facts
- Net loss of $6.9M ($0.57/share) for Q2 2026 vs $5.4M ($3.39/share) in Q2 2025
- Cash and cash equivalents of $34.0M as of June 30, 2026, up from $13.2M at Dec 31, 2025
- R&D expenses increased to $4.6M from $2.4M YoY, driven by Phase 3 WM and CLR 125 TNBC trial initiations
- Site activation initiated for confirmatory Phase 3 trial of iopofosine I 131 in Waldenström macroglobulinemia
- NDA submission planned for mid-2027 under FDA Accelerated Approval Program with Breakthrough Therapy Designation
- May 2026 registered direct offering raised net proceeds of ~$31.7M
- Cash runway expected into Q2 2027
Financial Impact
Net loss of $6.9M for Q2 2026, cash burn rate ~$3.5M/month based on $34M cash and Q2 2027 runway
Risk Factors
- Pre-revenue clinical-stage company with no approved products
- Phase 3 trial enrollment and results may not support accelerated approval
- Cash runway only into Q2 2027; additional dilutive financing likely needed
- Competing WM therapies (BTK inhibitors, bispecifics) may limit commercial opportunity
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3344389 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 11d ago | Press Release | $1.19 | awaiting T+60 | — | $1.22 (+2.52%) |
Aug 13, 2026 10w ago | 8-K | $2.48 | awaiting T+60 | — | $1.22 (−50.81%) |
Aug 13, 2026 10w ago | Press Release | $2.48 | awaiting T+60 | — | $1.22 (−50.81%) |
Jun 1, 2026 21w ago | Press Release | $2.97 $2.54 | ▼ −14.48% | ▼ −15.71% | $1.22 (−58.92%) |
May 29, 2026 21w ago | S-1/A | $3.14 $2.52 | ▲ +19.75% | ▲ +20.93% | $1.22 (+61.15%) |
May 28, 2026 21w ago | DEFA14A | $3.14 $2.52 | ▼ −19.75% | ▼ −20.93% | $1.22 (−61.15%) |
May 19, 2026 22w ago | S-1 | $3.17 $2.60 | ▲ +17.98% | ▲ +22.98% | $1.22 (+61.51%) |
May 14, 2026 23w ago | 8-K | $3.20 $2.60 | ▼ −18.75% | ▼ −22.34% | $1.22 (−61.87%) |
May 14, 2026 23w ago | Press Release | $3.20 $2.60 | ▼ −18.75% | ▼ −22.34% | $1.22 (−61.87%) |
May 11, 2026 24w ago | Press Release | $3.06 $2.52 | ▼ −17.65% | ▼ −22.04% | $1.22 (−60.13%) |
US Market Status
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