Cellectar Biosciences, Inc.

Cellectar Biosciences, Inc. held its Annual Meeting of Stockholders on July 7, 2026, where several key proposals were approved. Stockholders voted to increase the number of shares reserved for issuance under the 2021 Stock Incentive Plan by 2,000,000 shares. Additionally, the exercise of warrants to purchase up to 39,618,078 shares of common stock was approved. Directors Andrew Gu and Douglas J. Swirsky were elected, Deloitte & Touche LLP was ratified as the auditor, and executive officer compensation was approved.

Cellectar Biosciences announced compelling efficacy results from a subset of patients treated with iopofosine I 131 immediately post-BTKi therapy in its Phase 2 CLOVER WaM clinical trial for relapsed or refractory Waldenström macroglobulinemia. The data, highlighted at ASCO, showed an 80% major response rate and a median duration of response exceeding 16 months in this challenging patient population. Based on these positive findings, the company plans to pursue accelerated approval in the U.S. and initiate a confirmatory Phase 3 study in the fourth quarter of 2026.

Cellectar Biosciences filed an S-1/A registration statement for the resale of up to 51,998,413 shares of common stock by selling stockholders. These shares originate from a private placement that closed on May 6, 2026, and include shares issuable upon the exercise of various warrants. Concurrently, the company conducted a registered direct offering and appointed Andrew Gu to its Board of Directors as part of an agreement with Nantahala Capital Management. The company will not receive proceeds from the resale but will from warrant exercises, and noted its cash balance of $13.2 million as of December 31, 2025, is sufficient only into Q2 2027, raising going concern doubts.

Cellectar Biosciences, Inc. announced its 2026 Annual Meeting of Stockholders to be held virtually on July 7, 2026. Key proposals include the election of two Class III directors, the approval of an increase of 2,000,000 shares for the 2021 Stock Incentive Plan, and a crucial vote on the exercise of warrants for up to 39,618,078 shares of common stock. Stockholders will also vote on ratifying Deloitte & Touche, LLP as the independent auditor and an advisory vote on executive compensation. The company noted that current dilution is 3.9%, which could increase to 16.4% if the stock incentive plan is approved.

Cellectar Biosciences filed an S-1 registration statement for the resale of up to 51,206,051 shares of common stock by selling stockholders. These shares originate from a private placement that closed on May 6, 2026, and include shares issued directly and those issuable upon the exercise of Pre-Funded Warrants and Series A, B, and C Warrants. While the company recently raised capital, the filing highlights that additional funding is required to continue operations, raising substantial doubt about its ability to continue as a going concern.

Cellectar Biosciences, Inc. announced the appointment of Andrew Gu to its Board of Directors as a Class III director and a member of the Audit Committee, effective May 18, 2026. Mr. Gu was designated by Nantahala Capital Management, LLC following a recent securities purchase agreement. Concurrently, Dr. Stefan D. Loren informed the Board that he will not seek re-election as a Class III director, with his term expiring at the upcoming 2026 annual meeting; his decision was not due to any disagreement with the company. Cellectar Biosciences also entered into a one-year consulting agreement with Dr. Loren, compensating him $15,000 per quarter and granting 15,000 stock options at the end of the term.

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.

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.

Cellectar Biosciences reported a net loss of $5.65 million for the first quarter of 2026, an improvement from $6.60 million in the prior year's quarter. The company continues to incur significant losses, with an accumulated deficit of approximately $275 million, which raises substantial doubt about its ability to continue as a going concern. However, subsequent to the quarter, the company secured up to $35 million in upfront financing and $105 million in milestone-based securities to improve its liquidity.

Cellectar Biosciences, Inc. announced it will report its financial results for the first quarter ended March 31, 2026, and provide a corporate update on Thursday, May 14, 2026, at 8:30 a.m. Eastern Time. The company will host a conference call and webcast to discuss these updates. A replay of the corporate presentation will be accessible on the company's Investor Relations website.