Cellectar Biosciences (CLRB)
NASDAQ:CLRB
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Cellectar Biosciences
(NASDAQ:CLRB)
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Rating:55Neutral
Price Target:
$3.50
▲(6.38% Upside)
Action:Reiterated
Date:05/15/26
The score is held back primarily by weak financial performance (no revenue, ongoing losses and cash burn, and a thinner equity cushion), partly offset by a constructive earnings-call backdrop (strong clinical data and improved funding outlook) and moderately positive technical momentum. Valuation provides limited support due to negative earnings and no dividend.
Positive Factors
Robust Phase IIb CLOVER WaM efficacy
High and durable response metrics materially reduce clinical execution risk for iopofosine in Waldenström macroglobulinemia. Strong Phase IIb data support statistical assumptions for a pivotal trial, improve chances of regulatory acceptance, and increase the probability of eventual commercial uptake if confirmed.
Negative Factors
Persistent cash burn and no product revenue
The company remains pre‑revenue and structurally dependent on external capital as operating cash flow is materially negative. Absent approved products, ongoing development and commercialization will continue to consume cash, making long‑term viability contingent on successful trials, approvals, or sustained financing.
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Positive Factors
Negative Factors
Robust Phase IIb CLOVER WaM efficacy
High and durable response metrics materially reduce clinical execution risk for iopofosine in Waldenström macroglobulinemia. Strong Phase IIb data support statistical assumptions for a pivotal trial, improve chances of regulatory acceptance, and increase the probability of eventual commercial uptake if confirmed.
Read all positive factors
Cellectar Biosciences (CLRB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$25.57M
Dividend YieldN/A
Average Volume (3M)105.19K
Price to Earnings (P/E)―
Beta (1Y)1.16
Revenue GrowthN/A
EPS Growth58.54%
CountryUS
Employees11
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-7.38
Shares Outstanding7,991,812
10 Day Avg. Volume157,484
30 Day Avg. Volume105,193
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.78
Price to Sales (P/S)0.00
P/FCF Ratio-0.33
Enterprise Value/Market Cap0.13
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit30.87
Enterprise Value/Ebitda-0.15
Forecast
1Y Price Target
$10.33Price Target Upside214.08% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-2.13
Revenue Forecast (FY)N/A
Cellectar Biosciences Business Overview & Revenue Model
Company Description
Cellectar Biosciences, Inc., a clinical biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for the treatment of cancer. Its lead phospholipid drug conjugate (PDC) candidate is CLR 131 (iopofosine I-131...
How the Company Makes Money
Cellectar Biosciences does not have a clearly established, recurring commercial revenue base from product sales; as a clinical-stage company, it has historically funded operations primarily through external financing rather than ongoing operating ...
Cellectar Biosciences Earnings Call Summary
Earnings Call Date:May 14, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 19, 2026
Earnings Call Sentiment Positive
The call emphasized major clinical progress for iopofosine (robust Phase IIb 12‑month data with high ORR, durable responses, and regulatory strategy toward accelerated approval) and an oversubscribed financing structure intended to fund late‑stage development. Operational progress on CLR125 and cost discipline were also highlighted. Key risks include a low pre‑financing cash balance, reliance on milestone‑contingent funding with market‑performance conditions, continued net losses, and tight timelines for Phase III initiation and regulatory milestones. On balance, the positive clinical data and financing momentum significantly outweigh the contingent funding and timing risks.Positive Updates
Positive 12‑Month CLOVER WaM Phase IIb Results
iopofosine I-131 met both primary and secondary endpoints in the 12‑month follow-up of the Phase IIb CLOVER WaM study (N=55). Key metrics: overall response rate (ORR) 83.6%, major response rate (MRR) 61.8%, median duration of response (DOR) 17.8 months, median progression-free survival (PFS) 13.5 months, VGPR/CR rate 14.5%, and disease control rate 98.2%. More than 30% of responders maintained responses beyond 36 months. Efficacy was consistent in both BTKi‑exposed and BTKi‑refractory subgroups.
Negative Updates
Low Cash Balance Pre‑Financing
Cash and cash equivalents at March 31, 2026 were approximately $8.3M, down from $13.2M at end of 2025 (a decrease of ~37.1%). While the financing addresses funding needs, the trailing cash balance was low entering the quarter prior to upfront financing proceeds.
Read all updates
Q1-2026 Updates
Positive
Negative
Positive 12‑Month CLOVER WaM Phase IIb Results
iopofosine I-131 met both primary and secondary endpoints in the 12‑month follow-up of the Phase IIb CLOVER WaM study (N=55). Key metrics: overall response rate (ORR) 83.6%, major response rate (MRR) 61.8%, median duration of response (DOR) 17.8 months, median progression-free survival (PFS) 13.5 months, VGPR/CR rate 14.5%, and disease control rate 98.2%. More than 30% of responders maintained responses beyond 36 months. Efficacy was consistent in both BTKi‑exposed and BTKi‑refractory subgroups.
Read all positive updates
Company Guidance
Management guided that, based on the positive 12‑month CLOVER‑WaM dataset (N=55: ORR 83.6%, MRR 61.8%, median DOR 17.8 months with >30% of responders beyond 36 months, median PFS 13.5 months, VGPR/CR 14.5%, DCR 98.2%) they will pursue accelerated approval and a randomized Phase III confirmatory trial with PFS as the primary endpoint (study powered at ~100 patients per arm; planning assumptions used a control PFS ≈8 months vs iopofosine ≈12 months though management expects ~6 months control vs ~15 months iopofosine), with an anticipated Phase III start in late Q4 2026 and plans to submit an NDA shortly after enrollment begins with potential FDA action/approval in H2 2027 under Breakthrough designation; financially, Q1 cash was ~$8.3M (vs $13.2M at 2025 year‑end), Q1 R&D ≈$3.0M (vs $3.4M prior), G&A $2.8M (vs $3.0M), net loss $5.7M or $1.33/sh (vs $6.6M or $4.30/sh), and the company completed an oversubscribed financing of up to $140M ($35M upfront plus up to $105M in three $35M milestone‑tied warrants exercisable upon stockholder approval and callable if the stock trades >$3.45 with volume >$500,000/day for 20 consecutive days), which management says provides resources to fund operations and support the Phase III and potential commercialization into Q2 2027; additionally, the CLR125 Phase Ib in TNBC is actively dosing three regimens (32.75 mCi over 4 cycles; 62.5 mCi/m2 over 3 cycles; 95 mCi/m2 over 2 cycles) with ~15 patients per arm plus a 15‑patient expansion and dosimetry and early data expected in 2026.Cellectar Biosciences Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
46
Neutral
Cash Flow
12
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 110.02K | -213.60K | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -22.33M | -22.77M | -51.49M | -38.77M | -28.67M | -23.98M |
| Net Income | -20.84M | -21.79M | -44.58M | -42.77M | -31.79M | -24.12M |
Balance Sheet | ||||||
| Total Assets | 11.12M | 14.98M | 25.47M | 12.08M | 21.59M | 37.20M |
| Cash, Cash Equivalents and Short-Term Investments | 8.35M | 13.20M | 23.29M | 9.56M | 19.87M | 35.70M |
| Total Debt | 1.53M | 409.59K | 494.00K | 552.98K | 603.83K | 301.74K |
| Total Liabilities | 6.40M | 5.06M | 11.18M | 25.85M | 12.05M | 4.16M |
| Stockholders Equity | 4.72M | 9.92M | 14.29M | -13.78M | 9.54M | 33.05M |
Cash Flow | ||||||
| Free Cash Flow | -18.59M | -23.12M | -47.69M | -33.24M | -25.45M | -22.71M |
| Operating Cash Flow | -18.58M | -23.12M | -47.58M | -32.38M | -25.22M | -22.57M |
| Investing Cash Flow | -9.26K | -5.88K | -104.19K | -864.04K | -225.97K | -141.36K |
| Financing Cash Flow | 13.03M | 13.03M | 61.41M | 22.94M | 9.61M | 1.25M |
Cellectar Biosciences Technical Analysis
Positive
3.29
Price Trends
2.94
Positive
3.10
Positive
3.65
Negative
Market Momentum
0.08
Negative
56.71
Neutral
72.73
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 3.29 is above the 20-day moving average (MA) of 3.00, above the 50-day MA of 2.94, and below the 200-day MA of 3.65, indicating a neutral trend. The MACD of 0.08 indicates Negative momentum. The RSI at 56.71 is Neutral, neither overbought nor oversold. The STOCH value of 72.73 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 44 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $25.57M | -0.48 | -248.91% | ― | ― | 58.54% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | $245.06M | -0.53 | 359.80% | ― | ― | -3629.03% | |
45 Neutral | $142.89M | -9.06 | -61.43% | ― | -100.00% | 18.25% | |
41 Neutral | $7.18M | -0.33 | ― | ― | ― | ― |
* Healthcare Sector Average
CLRB
Cellectar Biosciences
3.20
-4.39
-57.84%
CANF
Can-Fite BioPharma
3.40
-17.30
-83.57%
NERV
Minerva Neurosciences
5.26
3.80
260.27%
EQ
Equillium
2.26
1.85
456.65%
Cellectar Biosciences Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Cellectar Raises $35M to Advance Phase 3 Trial
Positive
May 8, 2026
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 ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.