Cellectar Biosciences Reports Q1 2025 Financials and Strategic Plans

Cellectar Biosciences Inc ( (CLRB) ) has released its Q1 earnings. Here is a breakdown of the information Cellectar Biosciences Inc presented to its investors.

Cellectar Biosciences Inc. is a late-stage clinical biopharmaceutical company specializing in the development of cancer treatment drugs using its proprietary Phospholipid Drug Conjugate™ (PDC) delivery platform, aiming to enhance efficacy and safety by reducing off-target effects.

In its first quarter of 2025 financial report, Cellectar Biosciences announced its strategic plans and financial results. The company is actively seeking conditional approval from the European Medicines Agency for its lead product candidate, iopofosine I 131, based on promising Phase 2 study data in Waldenstrom Macroglobulinemia.

Key financial highlights include a decrease in research and development expenses to $3.4 million from $7.1 million in the same quarter last year, and a reduction in general and administrative expenses to $3.0 million from $4.9 million. The net loss for the quarter was $6.6 million, significantly lower than the $26.6 million loss in the previous year, reflecting improved financial management.

Strategically, Cellectar is exploring various alternatives, including mergers and partnerships, to advance its pipeline. The company is also preparing for a Phase 3 study for iopofosine I 131 and a potential Phase 1b/2a study for its CLR 121125 program, contingent on securing additional funding.

Looking ahead, Cellectar Biosciences remains focused on advancing its novel pipeline assets and exploring strategic collaborations to support its operations and growth, with a cash runway extending into the fourth quarter of 2025.