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Cellectar Biosciences
(NASDAQ:CLRB)
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Rating:52Neutral
Price Target:
$2.50
▲(3.73% Upside)
Action:Reiterated
Date:08/18/26
The score is held back primarily by weak financial performance (no revenue, ongoing losses, and continued cash burn), partially offset by low leverage and improved loss/burn trends. The latest earnings call provides the main upside catalyst (strong clinical data, a clearer regulatory roadmap, and improved cash position), while technicals are neutral-to-slightly weak and valuation metrics offer limited support due to negative earnings and no dividend.
Positive Factors
Robust Phase IIb efficacy
High and durable response rates from the 12‑month CLOVER WaM (N=55) materially reduce clinical risk for a pivotal program. Durable responses and benefit in BTKi‑exposed/refractory subgroups strengthen the case for a targeted label, improving long‑term commercial and clinical viability if confirmed in Phase III.
Negative Factors
Pre-revenue with sustained cash burn
The company remains pre‑revenue and cash‑consumptive, with sizable TTM losses and negative operating cash flow. Structurally, this necessitates repeated external funding, increases dilution risk, and leaves operations contingent on clinical progress or partnerships rather than internal cash generation over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Robust Phase IIb efficacy
High and durable response rates from the 12‑month CLOVER WaM (N=55) materially reduce clinical risk for a pivotal program. Durable responses and benefit in BTKi‑exposed/refractory subgroups strengthen the case for a targeted label, improving long‑term commercial and clinical viability if confirmed in Phase III.
Read all positive factors
Cellectar Biosciences (CLRB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$24.58M
Dividend YieldN/A
Average Volume (3M)110.32K
Price to Earnings (P/E)―
Beta (1Y)1.30
Revenue GrowthN/A
EPS Growth77.68%
CountryUS
Employees11
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-4.56
Shares Outstanding9,452,108
10 Day Avg. Volume120,337
30 Day Avg. Volume110,319
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 Cap<0.01
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$11.67Price Target Upside384.09% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-2.17
Revenue Forecast (FY)N/A
Cellectar Biosciences Business Overview & Revenue Model
Company Description
Cellectar Biosciences is a biopharmaceutical firm engaged in the research, development, and market introduction of therapeutic agents to combat cancer. The company's primary asset is CLR 131 (iopofosine I-131), a phospholipid drug conjugate (PDC),...
How the Company Makes Money
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Cellectar Biosciences Earnings Call Summary
Earnings Call Date:Aug 13, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The call conveyed strong clinical validation for iopofosine (durable responses and high response rates including a near-80% major response in the BTKi-exposed subgroup), clear progress toward a confirmatory Phase III and an intended accelerated approval filing in 1H 2027, plus meaningful balance-sheet reinforcement from an oversubscribed financing. The company is also advancing CLR 125 and expanding its PDC platform with supporting peer-reviewed data and manufacturing readiness. Offsetting these positives are materially higher R&D costs, a wider net loss in dollar terms, timing and operational risks tied to site activation/IRB/radiopharmacy readiness, just-in-time isotope production complexities, actinium-225 supply risk for alpha programs, and potential dilution from issued warrants. Overall, the highlights (clinical data, regulatory path, financing, pipeline expansion and manufacturing preparedness) materially outweigh the operational and financing caveats.Positive Updates
CLOVER-WaM Clinical Data — Durable and High Response Rates
Full 12-month follow-up from CLOVER-WaM met primary and secondary endpoints. Overall: ~62% major response rate, median duration of response 17.8 months, VGPR+CR rate increased to 14.5% in late-line refractory patients. BTKi-exposed subgroup (ASCO 2026): 79.2% major response rate, 87.5% overall response rate, 100% clinical benefit rate, median duration of response ~16 months.
Negative Updates
Increased R&D Spend and Higher Net Loss (Dollar Basis)
R&D expenses rose to $4.6M in Q2 2026 from $2.4M in Q2 2025, an increase of $2.2M (~91.7%) driven by increased clinical activity (CLR 125 and iopofosine confirmatory study initiation). Net loss widened to $6.9M in Q2 2026 vs $5.4M in Q2 2025, an increase of $1.5M (~27.8%).
Read all updates
Q2-2026 Updates
Positive
Negative
CLOVER-WaM Clinical Data — Durable and High Response Rates
Full 12-month follow-up from CLOVER-WaM met primary and secondary endpoints. Overall: ~62% major response rate, median duration of response 17.8 months, VGPR+CR rate increased to 14.5% in late-line refractory patients. BTKi-exposed subgroup (ASCO 2026): 79.2% major response rate, 87.5% overall response rate, 100% clinical benefit rate, median duration of response ~16 months.
Read all positive updates
Company Guidance
Management guided that site activation for the confirmatory Phase III of iopofosine I‑131 is underway with first sites expected to open in the coming months and first patient dosing possible late 2026 or early 2027, targeting an accelerated‑approval submission in H1/mid‑2027 (management also referenced a March–April timeframe) with an anticipated ~6‑month FDA review under Breakthrough designation; they expect roughly 10–20 sites open at submission, a couple of patients enrolled by submission and ~5%+ of patients enrolled by the time of regulatory action (6–8 months after submission). Key clinical metrics cited: CLOVER‑WaM BTKi‑immediate subgroup showed a 79.2% major response rate, 87.5% overall response rate, 100% clinical benefit rate and median duration of response (DOR) ~16 months; the full 12‑month dataset showed median DOR 17.8 months, ~62% major response and VGPR+CR of 14.5% in late‑line patients. Financial and capital metrics: May financing up to $140M (including $35M upfront, ~$31.7M net, plus up to $105M tied to milestones); three warrant tranches (~13.2M each) exercisable at $2.65 (expiries 7/7/2027, 7/7/2028, 7/7/2031) with tranche milestones (A=first patient enrolled, B=NDA acceptance, C=FDA approval) and callable only if VWAP ≥ $3.45 and VWAP liquidity ≥ $500k for 20 consecutive trading days; cash $34.0M at 6/30/26 (vs $13.2M at 12/31/25). Q2 operating metrics: R&D $4.6M (Q2 2026) vs $2.4M (Q2 2025), G&A $2.6M vs $3.6M, net loss $6.9M or $0.57/share vs $5.4M or $3.39/share. Operational/pipeline notes: ligand inventory has >5 years stability, finished‑product capacity cited at ~100 patients/week (company also referenced capacity approaching ~1,000 patient scale), CLR‑125 Phase Ib has dosed first patients with initial dosimetry/safety/efficacy data expected late 2026 or early 2027, and an educational webinar was scheduled for Aug 18.Cellectar Biosciences Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
55
Neutral
Cash Flow
18
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 | -21.58M | -44.22M | -42.64M | -31.70M | -23.97M |
| Net Income | -22.32M | -21.79M | -44.58M | -42.77M | -31.79M | -24.12M |
Balance Sheet | ||||||
| Total Assets | 36.64M | 14.98M | 25.47M | 12.08M | 21.59M | 37.20M |
| Cash, Cash Equivalents and Short-Term Investments | 33.99M | 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 | 6.77M | 5.06M | 11.18M | 25.85M | 12.05M | 4.16M |
| Stockholders Equity | 29.87M | 9.92M | 14.29M | -13.78M | 9.54M | 33.05M |
Cash Flow | ||||||
| Free Cash Flow | -19.48M | -23.12M | -47.69M | -33.24M | -25.45M | -22.71M |
| Operating Cash Flow | -19.47M | -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 | 42.44M | 13.03M | 61.41M | 22.94M | 9.61M | 1.25M |
Cellectar Biosciences Technical Analysis
Positive
2.41
Price Trends
2.56
Positive
2.73
Negative
2.99
Negative
Market Momentum
>-0.01
Negative
51.58
Neutral
42.84
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 2.41 is below the 20-day moving average (MA) of 2.53, below the 50-day MA of 2.56, and below the 200-day MA of 2.99, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 51.58 is Neutral, neither overbought nor oversold. The STOCH value of 42.84 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 |
|---|---|---|---|---|---|---|---|
52 Neutral | $24.58M | -0.57 | -264.79% | ― | ― | 77.68% | |
52 Neutral | $32.70M | 2.89 | 83.42% | ― | ― | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
45 Neutral | $19.01M | -2.43 | -73.29% | ― | -43.86% | 49.21% | |
44 Neutral | $26.91M | -0.60 | -221.50% | ― | ― | 73.69% | |
41 Neutral | $13.12M | -0.07 | -901.32% | ― | ― | 75.09% |
* Healthcare Sector Average
CLRB
Cellectar Biosciences
2.60
-2.10
-44.68%
CVM
Cel-Sci
1.54
-7.38
-82.74%
ATNM
Actinium Pharmaceuticals
1.04
-0.67
-39.18%
GTBP
GT Biopharma
0.30
-1.19
-80.07%
MRKR
Marker Therapeutics
1.14
-0.07
-5.79%
Cellectar Biosciences Corporate Events
Business Operations and StrategyExecutive/Board ChangesPrivate Placements and FinancingShareholder Meetings
Cellectar Biosciences Shareholders Approve Key Governance Measures
Positive
Jul 10, 2026
At its annual meeting held on July 7, 2026, Cellectar Biosciences’ shareholders elected Class III directors Andrew Gu and Douglas J. Swirsky to new three-year terms and ratified Deloitte Touche LLP as the independent registered public accou...
Executive/Board Changes
Cellectar Biosciences Announces Board Changes and New Director
Neutral
May 18, 2026
On May 17, 2026, Cellectar Biosciences director Stefan D. Loren notified the board that he would not stand for reelection as a Class III director at the 2026 annual meeting, with his term to expire at that time, and the company emphasized that his...
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.