Cellectar Biosciences (NASDAQ:CLRB) Posts Earnings Results, Misses Estimates By $0.05 EPS

Cellectar Biosciences (NASDAQ:CLRB) announced its earnings results on Thursday. The biopharmaceutical company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.05), FiscalAI reports.

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

• Cellectar reported encouraging 12-month CLOVER-WaM results for iopofosine I-131, including a 62% major response rate, 17.8-month median duration of response, and deeper responses over time in heavily pretreated Waldenström macroglobulinemia patients.
• Site activation has begun for the planned Phase III confirmatory study, with first patient enrollment expected in late 2026 or early 2027 and an accelerated-approval submission targeted for March–April 2027, subject to having sufficient sites and enrollment underway.
• The company’s $35 million upfront financing, with up to $105 million in milestone-linked proceeds, increased cash and equivalents to approximately $34 million and is intended to fund the WM program through potential commercialization.
• Cellectar is expanding beyond WM through its phospholipid drug-conjugate platform, including the Phase Ib CLR 125 program in triple-negative breast cancer and earlier-stage alpha-emitting CLR 225; initial CLR 125 dosimetry, safety, and efficacy data are expected later this year or early next year.
• Second-quarter R&D expenses rose to $4.6 million from $2.4 million year over year, while the company recorded a $6.9 million net loss; future funding also depends partly on warrant exercises tied to clinical and regulatory milestones and stock-price conditions.

Cellectar Biosciences Price Performance

NASDAQ:CLRB traded down $0.11 during trading hours on Thursday, reaching $2.49. 26,118 shares of the company were exchanged, compared to its average volume of 464,544. The business has a 50 day moving average of $2.57 and a 200 day moving average of $2.87. Cellectar Biosciences has a 1-year low of $2.20 and a 1-year high of $6.52. The company has a market capitalization of $19.90 million, a P/E ratio of -0.37 and a beta of 0.55.

Institutional Trading of Cellectar Biosciences

Institutional investors have recently modified their holdings of the stock. DRW Securities LLC increased its position in shares of Cellectar Biosciences by 114.2% in the fourth quarter. DRW Securities LLC now owns 45,190 shares of the biopharmaceutical company’s stock worth $133,000 after purchasing an additional 24,089 shares during the period. Geode Capital Management LLC lifted its position in Cellectar Biosciences by 15.0% during the fourth quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock worth $84,000 after purchasing an additional 3,744 shares during the period. Citadel Advisors LLC bought a new stake in Cellectar Biosciences during the third quarter worth about $104,000. Dimensional Fund Advisors LP acquired a new stake in Cellectar Biosciences during the third quarter worth about $73,000. Finally, Bank of America Corp DE grew its stake in Cellectar Biosciences by 25.3% during the fourth quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock worth $62,000 after buying an additional 41,704 shares in the last quarter. 16.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on CLRB. Brookline Capital Markets raised Cellectar Biosciences to a “strong-buy” rating in a report on Sunday, July 12th. LADENBURG THALM/SH SH initiated coverage on Cellectar Biosciences in a report on Friday, May 15th. They set a “buy” rating for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Cellectar Biosciences in a research note on Friday, July 17th. Wall Street Zen raised shares of Cellectar Biosciences to a “hold” rating in a research report on Saturday, June 20th. Finally, Roth Capital reiterated a “buy” rating and issued a $11.00 price objective on shares of Cellectar Biosciences in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Cellectar Biosciences Company Profile

Cellectar Biosciences, Inc is a clinical‐stage biopharmaceutical company focused on the development of targeted cancer therapies and imaging agents. The company’s proprietary phospholipid drug conjugate (PDC) technology platform is designed to selectively deliver therapeutic and diagnostic payloads to malignant cells while sparing healthy tissue. Through its PDC approach, Cellectar aims to improve the efficacy and safety profile of traditional treatments like chemotherapy and radiotherapy.

Its lead therapeutic candidate, CLR 131, is a radioisotope‐labeled PDC being evaluated in Phase II clinical trials for relapsed or refractory B‐cell malignancies, including multiple myeloma and non‐Hodgkin lymphoma.