Cellectar Biosciences Secures $140M Financing; Q1 Net Loss $5.7M
Cellectar Biosciences announced its first-quarter 2026 financial results and provided a comprehensive corporate update. The company successfully completed a financing of up to $140 million, including $35 million upfront, to support the initiation of a Phase 3 confirmatory study for iopofosine I 131 in relapsed/refractory Waldenström Macroglobulinemia (r/r WM) and subsequent U.S. FDA filing for accelerated approval. Positive 12-month follow-on data from the CLOVER WaM study for iopofosine I 131 demonstrated strong efficacy, with a 61.8% major response rate and a median duration of response of 17.8 months. Additionally, the company dosed the first patients in a Phase 1b study for CLR 125 in triple negative breast cancer. For Q1 2026, the net loss was $5.7 million, or $1.33 per share, an improvement from $6.6 million, or $4.30 per share, in Q1 2025.
Key Highlights
- Secured financing of up to $140 million, with $35 million upfront, to fund iopofosine I 131 development.
- Reported positive 12-month follow-up data for iopofosine I 131 in r/r WM, showing 61.8% MRR and 17.8 months median DoR.
- Plans to initiate a Phase 3 confirmatory study for iopofosine I 131 and file for accelerated FDA approval.
- Enrolled first patients in Phase 1b study for CLR 125 in triple negative breast cancer.
- Q1 2026 net loss was $5.7 million ($1.33 per share), down from $6.6 million ($4.30 per share) in Q1 2025.
- Research and development expenses decreased to $3.0 million in Q1 2026 from $3.4 million in Q1 2025.
- Cash and cash equivalents were $8.3 million as of March 31, 2026, with new financing extending runway into Q2 2027.
- Efficacy results from CLOVER WaM study selected for presentation at ASCO 2026.
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