CLRB Stock — Cellectar Biosciences Inc.: Cash, EV, Pipeline

What they do

Our core objective is to leverage our proprietary phospholipid ether drug conjugate ™ (PDC™) delivery platform to develop PDCs that are designed to specifically target cancer cells and deliver improved efficacy and better safety as a result of fewer off-target effects.

Source: 10-K FY2025 via SEC EDGAR

Share price

$1.23

Market cap

$11.6M

Cash

$24.6M

Enterprise value

-$13.0M

Balance sheet

Cash	$24.6M
Debt	$0.0M
Net cash	$24.6M
Enterprise value	-$13.0M
Basic shares	10.0M shares
Fully diluted shares	62.3M shares
Fully diluted market cap	$76.7M
Cash per share	$2.45
Quarterly burn	$6.0M
Cash runway	5.7 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-10.

Share structure

Common

9.5M

Pre-funded warrants

9.2M

Options

0.2M

RSUs

0.0M

Warrants

43.4M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

—

FDSO

62.3M

Cap table as of 2026-08-10.

Price history

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Next catalyst

CLR 131 · Now - Nov 17, 2026 Now · Phase 1 · Pediatric Solid Tumor; Pediatric Lymphoma; Pediatric Brain Tumor

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Now - Nov 17, 2026 Now	CLR 131	Phase 1	Pediatric Solid Tumor; Pediatric Lymphoma; Pediatric Brain Tumor	—
Mar 14 - Apr 25 in 16 mo	Iopofosine I 131	Phase 1	Breast Cancer	—
Feb 12 - Mar 25 in 64 mo	Iopofosine I 131	Phase 3	Waldenstrom Macroglobulinaemia; Waldenstrom Macroglobulinemia; Waldenstrom's Macroglobulinaemia Refractory	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Iopofosine I 131

Phase 2 · Active Modality: radiopharmaceutical (phospholipid radioconjugate)

Aliases iopofosine, CLR 131

Target phospholipid (phospholipid radioconjugate)

Indications

Relapsed/refractory Waldenstrom macroglobulinemia (WM) (Phase 2)
Relapsed/refractory multiple myeloma (MM) (Phase 2)
Relapsed/refractory CNS lymphoma (CNSL) (Phase 2)
Pediatric high-grade glioma (HGG) (Phase 1)
Recurrent head & neck cancer (+ external beam radiation) (Phase 1)

Catalysts

— 2026 (initiation underway)

Status note Beta-emitting iodine-131 PRC. CLOVER WaM Phase 2 (pivotal registration, r/r WM ≥2 prior lines incl. BTKi failure): primary endpoint met, MRR 61.8%, ORR 83.6%, mDOR 17.8 months; 12-month follow-up reported May 5, 2026. Breakthrough Therapy Designation (r/r WM, Jun 4, 2025); EMA SAWP advised a Conditional Marketing Authorization filing for post-BTKi refractory WM could be acceptable (Oct 6, 2025). Phase 3 confirmatory study activities initiated Jun 2026. CLOVER-1 Phase 2b (r/r MM, r/r CNSL) closed to enrollment, patients in follow-up. Fatalities have occurred in patients post-treatment with iopofosine. $35M upfront + up to $105M milestone-based financing (May 5, 2026) funds Phase 3 initiation.

CLR 121125

Phase 1 · Active Modality: radiopharmaceutical (phospholipid radioconjugate)

Aliases CLR 125

Target phospholipid (phospholipid radioconjugate)

Indications

Triple-negative breast cancer (TNBC) (Phase 1)

Status note Iodine-125 Auger-emitting program; Phase 1b dose-finding study in TNBC.

CLR 121225

Stage not disclosed · Active Modality: radiopharmaceutical (phospholipid radioconjugate)

Aliases CLR 225

Target phospholipid (phospholipid radioconjugate)

Status note Actinium-225 based PRC listed as a lead program; no trial detail in the excerpts.

Per-asset detail extracted from the 10-Q filed 2026-08-13. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Iopofosine I 131
Lead indication	Waldenstrom Macroglobulinaemia
Lead phase	Phase 3
Active trials	5

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07766421	Phase 3	Not yet recruiting	Sponsor	CLRB	—	Waldenstrom Macroglobulinaemia; Waldenstrom Macroglobulinemia; Waldenstrom's Macroglobulinaemia Refractory	—
NCT02952508	Phase 2	Active, not recruiting	Sponsor	CLRB	—	Waldenstrom Macroglobulinemia; Multiple Myeloma; Chronic Lymphocytic Leukemia	—
NCT07311993	Phase 1	Recruiting	Sponsor	CLRB	—	Breast Cancer	—
NCT05610891	Phase 1	Active, not recruiting	Sponsor	CLRB	—	High-Grade Glioma	—
NCT03478462	Phase 1	Active, not recruiting	Sponsor	CLRB	—	Pediatric Solid Tumor; Pediatric Lymphoma; Pediatric Brain Tumor	—

Sponsor-matched active trials from ClinicalTrials.gov (5 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 5 active trials for Cellectar Biosciences, Inc. on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
Stonepine Capital	104,550	+104,550	0.22%	2026-08-17

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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CLRB — Cellectar Biosciences Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

CLRB — Cellectar Biosciences Inc.