Cellectar Biosciences Q3 net loss narrows to $4.4 mln

Overview

• Cellectar Biosciences Q3 net loss narrows to $4.4 mln, with reduced R&D and G&A expenses

• Company plans to submit EMA application for iopofosine I 131 in 2026

• Received rare pediatric drug designation for iopofosine I 131 in r/r pHGG

Outlook

• Cellectar plans to submit a Conditional Marketing Approval application in Europe for iopofosine I 131 in 2026

• Company plans to submit a New Drug Application for iopofosine I 131 in the U.S. once funding is secured

• Cellectar is advancing a Phase 1b trial for CLR 125 in triple-negative breast cancer

Result Drivers

• R&D - Expenses were approximately $2.5 million, compared to approximately $5.5 million for the three months ended September 30, 2024. The overall decrease was primarily a result of reduced clinical trial costs

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the pharmaceuticals peer group is "buy"

• Wall Street's median 12-month price target for Cellectar Biosciences Inc is $84.00, about 95.8% above its November 12 closing price of $3.50

Press Release: ID:nGNX2FSNSQ

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)