Cellectar Biosciences (NASDAQ:CLRB) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Cellectar Biosciences (NASDAQ:CLRB) issued its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.10, FiscalAI reports.

Here are the key takeaways from Cellectar Biosciences’ conference call:

• Cellectar said site activation is progressing for the confirmatory Phase III trial of iopofosine in relapsed/refractory Waldenström’s macroglobulinemia, with first-patient dosing targeted for Q1 2027. The company is targeting an NDA submission in the first half of 2027 and believes U.S. commercialization could begin as early as late 2027 or early 2028, pending approval.
• A subgroup analysis of patients treated immediately after BTK-inhibitor therapy showed an 87.5% overall response rate, a 79.2% major response rate and a median duration of response of 16 months. These results are from the CLOVER-WaM study and are not confirmatory trial results.
• The company initiated a Phase I-B dosimetry study expected to enroll 20–30 patients, including newly diagnosed and relapsed WM patients, to assess drug uptake and gather additional safety and efficacy data. Cellectar sees potential to inform development in earlier treatment lines, but those benefits remain to be demonstrated.
• Cellectar ended the quarter with $24.6 million in cash and said its runway extends into Q2 2027, while its NDA target is the first half of 2027. Quarterly R&D expense rose to $5.4 million from $2.5 million a year earlier, and net loss widened to $8.0 million from $4.4 million.
• Cellectar plans to delay its European marketing-authorization submission by about nine months, saying it wants U.S. review and pricing discussions to advance first to reduce potential effects on U.S. pricing. The change preserves its preferred sequencing but pushes back the European filing.

Cellectar Biosciences Trading Down 1.2%

CLRB stock traded down $0.01 during trading on Tuesday, reaching $1.26. 19,555 shares of the stock were exchanged, compared to its average volume of 358,923. Cellectar Biosciences has a twelve month low of $1.11 and a twelve month high of $4.70. The company has a market capitalization of $11.95 million, a P/E ratio of -0.33 and a beta of 0.65. The stock has a 50 day simple moving average of $1.73 and a 200-day simple moving average of $2.57.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CLRB shares. Wall Street Zen downgraded Cellectar Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cellectar Biosciences in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

About Cellectar Biosciences

Cellectar Biosciences, Inc (NASDAQ: CLRB) is a clinical-stage biopharmaceutical company focused on developing targeted radiotherapeutics and oncology treatments. Its technology platform uses phospholipid ether compounds, which are designed to preferentially accumulate in cancer cells and other diseased tissues while limiting exposure to healthy tissue.

The company’s leading product candidate is iopofosine I 131, also known as CLR 131, a small-molecule radiopharmaceutical being studied for the treatment of hematologic malignancies, including relapsed or refractory multiple myeloma and certain types of lymphoma.