Business UpdateMay 14, 2026, 07:17 AM
Cellectar Secures $140M Financing; Iopofosine Shows Positive WM Data
AI Summary
Cellectar Biosciences announced the completion of up to $140 million in financing, providing resources to advance iopofosine I 131 through key U.S. regulatory milestones. The company reported positive 12-month follow-on data from its CLOVER-WaM Phase 2b study for iopofosine I 131 in relapsed/refractory Waldenström Macroglobulinemia, demonstrating strong efficacy and supporting plans for a Phase 3 confirmatory study and accelerated FDA approval. Additionally, Cellectar initiated a Phase 1b dose-finding study for CLR 125 in triple negative breast cancer and reported Q1 2026 financial results, including a reduced net loss and R&D expenses.
Key Highlights
- Cellectar completed financing of up to $140 million, including $35 million upfront, to support iopofosine's confirmatory study and FDA filing.
- Iopofosine I 131 in r/r WM showed 61.8% major response rate (MRR) and median duration of response (DoR) of 17.8 months in CLOVER-WaM Phase 2b study.
- Overall response rate (ORR) was 83.6% and median progression-free survival (PFS) was 13.5 months for iopofosine I 131.
- First patients dosed in Phase 1b study for CLR 125 in triple negative breast cancer, with early data expected mid-2026.
- Cash and cash equivalents were $8.3 million as of March 31, 2026, with new financing extending runway into Q2 2027.
- Q1 2026 R&D expenses decreased to $3.0 million from $3.4 million year-over-year.
- Q1 2026 net loss was $5.7 million, or $1.33 per share, compared to $6.6 million, or $4.30 per share, in Q1 2025.
- Andrew Gu of Nantahala Capital Management will join Cellectar's Board of Directors.
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