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Cellectar Biosciences (CLRB)
NASDAQ:CLRB
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Cellectar Biosciences
(NASDAQ:CLRB)
43Neutral
Positive Factors
Analyst Recommendation
Maintaining a buy recommendation for Cellectar Biosciences indicates continued confidence in the company's potential.
Financial Position
The company has $34M in cash (above the market cap of ~$10M) and with reduced opex, should have runway into late 2025 and paths forward with earlier-stage assets on what is viewed as a de-risked PDC platform.
Negative Factors
Regulatory Challenges
Cellectar announced that after discussions with FDA, the agency is requiring a confirmatory study to support accelerated approval for Iopofosine-131 in Waldenstrom’s macroglobulinemia (WM).
Cellectar Biosciences (CLRB) vs. S&P 500 (SPY)
Market Cap
$14.41M
Dividend YieldN/A
Average Volume (3M)1.05M
Price to Earnings (P/E)―
Beta (1Y)1.58
Revenue GrowthN/A
EPS Growth50.73%
CountryUS
Employees20
SectorHealthcare
Sector Strength78
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.87
Shares Outstanding46,079,876
10 Day Avg. Volume655,548
30 Day Avg. Volume1,046,149
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
Price to Cash Flow (P/CF)-0.40
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$1.00Price Target Upside212.50% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Cellectar Biosciences Business Overview & Revenue Model
Company DescriptionCellectar Biosciences (CLRB) is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of innovative cancer-targeting therapies. The company specializes in phospholipid drug conjugates (PDCs) designed to target and treat various types of cancer. Cellectar's lead product candidate, CLR 131, is under clinical development for the treatment of hematologic malignancies and solid tumors.
How the Company Makes MoneyCellectar Biosciences generates revenue primarily through partnerships, collaborations, and potential licensing agreements related to its proprietary phospholipid drug conjugate (PDC) platform. The company aims to out-license its technology to larger pharmaceutical companies who can fund further development and commercialization activities. Additionally, Cellectar may receive milestone payments and royalties from these partnerships upon the achievement of specific clinical, regulatory, and commercial milestones. As a clinical-stage company, Cellectar relies heavily on funding from investors, grants, and strategic partnerships to sustain its operations and advance its product pipeline.
Cellectar Biosciences Financial Statement Overview
Summary
Cellectar Biosciences faces significant financial challenges with inconsistent revenue generation and negative profit margins. The balance sheet shows a manageable debt level but weak equity, and cash flows are negative, indicating a reliance on external funding.Income Statement
Cellectar Biosciences is experiencing significant challenges in its income statement. While there is a small revenue figure reported in TTM (Trailing-Twelve-Months), historical revenue has been zero, indicating a lack of consistent revenue generation. The gross profit margin is low at 32.05% TTM due to high costs relative to revenue. Net profit margin is deeply negative, demonstrating substantial losses. There is a concerning trend of increasing negative EBIT and EBITDA margins, indicating difficulty in covering operating expenses.35
Negative
Balance Sheet
The balance sheet shows a heavily leveraged position with a debt-to-equity ratio of 0.03 TTM, though this is not due to high debt but rather low equity. Return on equity is negative, reflecting consistent net losses. The equity ratio is 40.67%, indicating a moderate level of assets financed by equity, though stockholders' equity has fluctuated significantly. The company maintains a reasonable level of cash and short-term investments, which is a positive aspect.40
Negative
Cash Flow
Cellectar Biosciences reports negative free cash flow and operating cash flow, which are serious concerns for sustainability. However, there is a significant increase in financing cash flow, suggesting reliance on external funding. Free cash flow growth is negative, although the operating cash flow to net income ratio indicates the firm is managing its cash flow somewhat relative to its net losses.45
Neutral
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 330.37K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Gross Profit |
| 105.89K | -192.38K | -238.87K | -227.64K | -207.93K | -189.36K | EBIT |
| -51.58M | -38.96M | -28.81M | -24.13M | -15.29M | -14.18M | EBITDA |
| -51.35M | -38.77M | -28.67M | -23.98M | -15.15M | -13.90M | Net Income Common Stockholders |
| -44.61M | -37.98M | -28.60M | -23.97M | -14.76M | -13.87M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 13.26M | 9.56M | 19.87M | 35.70M | 57.17M | 10.61M | Total Assets |
| 15.05M | 12.08M | 21.59M | 37.20M | 58.66M | 12.25M | Total Debt |
| 2.21K | 552.98K | 603.83K | 301.74K | 421.64K | 527.53K | Net Debt |
| -13.25M | -9.01M | -19.26M | -35.40M | -56.74M | -10.09M | Total Liabilities |
| 1.79M | 25.85M | 6.08M | 4.16M | 3.86M | 3.19M | Stockholders Equity |
| 13.26M | -15.16M | 15.51M | 33.05M | 54.79M | 9.06M |
| Cash Flow | Free Cash Flow | ||||
| -46.57M | -33.24M | -25.45M | -22.71M | -14.00M | -11.72M | Operating Cash Flow |
| -46.27M | -32.38M | -25.22M | -22.57M | -13.93M | -11.69M | Investing Cash Flow |
| -309.67K | -864.04K | -225.97K | -141.36K | -62.35K | -24.54K | Financing Cash Flow |
| 61.85M | 22.94M | 9.61M | 1.25M | 60.55M | 9.02M |
Cellectar Biosciences Technical Analysis
Positive
0.32
Price Trends
0.29
Positive
0.89
Negative
1.64
Negative
Market Momentum
>-0.01
Negative
53.07
Neutral
70.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CLRB, the sentiment is Positive. The current price of 0.32 is above the 20-day moving average (MA) of 0.30, above the 50-day MA of 0.29, and below the 200-day MA of 1.64, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 53.07 is Neutral, neither overbought nor oversold. The STOCH value of 70.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CLRB.
Cellectar Biosciences Risk Analysis
Cellectar Biosciences disclosed 39 risk factors in its most recent earnings report. Cellectar Biosciences reported the most risks in the “Tech & Innovation” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Cellectar Biosciences Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
49 Neutral | $6.90B | 0.02 | -54.05% | 2.46% | 24.91% | -3.14% | |
43 Neutral | $14.41M | ― | -474.63% | ― | ― | 50.73% | |
42 Neutral | $13.81M | ― | -151.46% | ― | -95.23% | -325.89% | |
36 Underperform | $3.52M | ― | -807.39% | ― | -80.98% | 62.27% | |
20 Underperform | $1.28M | ― | 197.20% | ― | ― | ― |
* Healthcare Sector Average
Performance Comparison
CLRB
Cellectar Biosciences
0.32
-3.06
-90.53%
CYCC
Cyclacel Pharmaceuticals
0.30
-2.20
-88.00%
ADXS
Advaxis
0.03
-0.64
-95.52%
AFMD
Affimed
0.89
-3.51
-79.77%
Cellectar Biosciences Earnings Call Summary
Earnings Call Date: Nov 18, 2024 | % Change Since: -82.80% | Next Earnings Date: Mar 13, 2025
Earnings Call Sentiment Neutral
The earnings call showcased significant progress in clinical trials and financial stability, with promising market opportunities for iopofosine I 131. However, challenges such as the NDA submission delay and increased expenses were acknowledged. The company's extensive pipeline development and strategic collaborations highlight a forward-looking growth strategy, despite regulatory hurdles.Highlights
CLOVER-WaM Study Results
The CLOVER-WaM study demonstrated a 56.4% major response rate, 80% overall response rate, and 98.2% clinical benefit rate in the most heavily pretreated WM patient population. The outcomes were selected for an oral presentation at the American Society of Hematology's Annual Meeting.
Positive Financial Position
Cellectar ended the quarter with $34.3 million in cash and cash equivalents, significantly higher than $9.6 million at the end of 2023. The company raised $19.4 million from investor exercises of Tranche B warrants.
Market Opportunity for Iopofosine I 131
Iopofosine I 131 targets a market of approximately 5,700 third-line or greater WM patients in the U.S., with no FDA-approved treatments for those progressing on BTKI therapy.
Pipeline and Research Development
Cellectar is advancing its pipeline of targeted radiotherapies, including a collaboration with City of Hope for iopofosine I 131 in mycosis fungoides and the development of CLR-121225 for solid tumors.
Lowlights
NDA Submission Delay
The NDA submission for iopofosine I 131 has been pushed from December 2024 to late Q1 or Q2 2025 due to ongoing discussions with the FDA.
Increased General and Administrative Expenses
G&A expenses rose to $7.8 million for the quarter, up from $2.4 million in the same period in 2023, due to commercialization infrastructure development.
Requirement for Confirmatory Study
The FDA is recommending a confirmatory study for iopofosine I 131, potentially impacting submission timelines and launch preparations.
Company Guidance
During the Cellectar Biosciences Q3 2024 earnings call, significant guidance was provided regarding the company's strategic trajectory and key metrics. The CLOVER-WaM study yielded compelling outcomes with a major response rate of 56.4%, an overall response rate of 80%, and a clinical benefit rate of 98.2% in heavily pretreated Waldenstrom's macroglobulinemia (WM) patients. These results are set to be presented at the American Society of Hematology's Annual Meeting. The company plans to submit a New Drug Application (NDA) for iopofosine I 131 in the first half of 2025, with anticipated market approval and product launch in the second half of 2025. Financially, Cellectar ended the quarter with $34.3 million in cash and cash equivalents, supported by a warrant strategy potentially raising an additional $73.3 million. Research and development expenses for the quarter were $5.5 million, while general and administrative expenses rose to $7.8 million, primarily due to commercialization efforts. The net loss stood at $14.7 million, compared to $17.5 million in the same period last year.Cellectar Biosciences Corporate Events
Business Operations and Strategy
Cellectar Biosciences Strategic Shift and Workforce Reduction
Negative
Dec 11, 2024
Cellectar Biosciences announced a strategic update involving workforce reduction and a shift in focus towards assets with high therapeutic potential, such as precision isotopes targeting solid tumors. The company plans to pursue strategic options for iopofosine I 131 development following FDA communications and will focus on advancing CLR 121225 and CLR 121125 into clinical studies. The restructuring aims to conserve cash and extend the company’s cash runway into the third quarter of 2025, despite a 60% workforce reduction.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.