Cellectar Raises $35M to Advance Phase 3 Trial

Cellectar Biosciences ( (CLRB) ) has provided an update.

On May 4, 2026, Cellectar Biosciences entered into securities purchase agreements for a registered direct offering and concurrent private placement of common stock, pre-funded warrants and milestone-based warrants, raising expected gross proceeds of about $35 million before fees, with the deal closing on May 6, 2026. The financing, which included participation by executive management and board designation rights for Nantahala Capital, strengthens Cellectar’s balance sheet and is earmarked for working capital and to support initiation of a Phase 3 trial of iopofosine I 131 in Waldenström macroglobulinemia, potentially enhancing its clinical and strategic position in radiopharmaceutical oncology.

In connection with the private placement, Cellectar agreed to register the resale of the unregistered shares and warrant shares and engaged Ladenburg Thalmann as sole placement agent under customary fee and warrant arrangements, while setting up milestone-triggered warrants linked to key clinical and regulatory events for iopofosine I 131. Separately, on May 5, 2025, the company reported positive 12‑month follow-up data from its Phase 2b CLOVER WaM trial in relapsed or refractory Waldenström macroglobulinemia, showing high response rates and manageable safety, which supports the rationale for advancing the program into a pivotal Phase 3 trial and may bolster investor and clinical confidence in its lead asset.

The most recent analyst rating on (CLRB) stock is a Buy with a $11.00 price target. To see the full list of analyst forecasts on Cellectar Biosciences stock, see the CLRB Stock Forecast page.

Spark’s Take on CLRB Stock

According to Spark, TipRanks’ AI Analyst, CLRB is a Neutral.

The score is held back primarily by weak financial performance (no revenue, ongoing losses, and financing risk despite 2025 improvements). Technicals are moderately positive with a near-term uptrend but elevated RSI suggests the move may be stretched. Earnings call outlook is constructive on regulatory and clinical milestones, but near-term cash needs and execution dependencies remain key risks; valuation is limited by negative earnings.

To see Spark’s full report on CLRB stock, click here.

More about Cellectar Biosciences

Cellectar Biosciences, Inc. is a biotechnology company focused on developing radiopharmaceutical therapies, including its lead candidate iopofosine I 131 for hematologic malignancies such as Waldenström macroglobulinemia. The company targets heavily pretreated, relapsed or refractory cancer patients, positioning itself in the precision oncology and radiotherapeutics segment of the biopharma market.

Average Trading Volume: 956,043

Technical Sentiment Signal: Sell

Current Market Cap: $13.99M

For a thorough assessment of CLRB stock, go to TipRanks’ Stock Analysis page.