Financial Performance - Cellectar Biosciences achieved a net loss of 1.22 per basic share for the year ended December 31, 2024, compared to a net loss of 3.50 per basic share in 2023[12]. - Other income and expense netted approximately 3.9 million in 2023, primarily due to non-cash items related to equity securities[12]. - Total operating expenses for 2024 were approximately 39.0 million in 2023, reflecting increased costs associated with the company's growth initiatives[18]. Cash Position - Cash and cash equivalents increased to 9.6 million at the end of 2023, supported by 19.4 million from inducement financing[6]. Research and Development - Research and Development expenses decreased to approximately 27.3 million in 2023, primarily due to the timing of expenditures for the WM Phase 2 study[6]. - The company finalized a study design for the potential FDA accelerated approval of iopofosine I 131, with a total study cost expected to be between 45 million[4]. - Cellectar plans to submit an IND application for its alpha-emitting radioconjugate in the first half of 2025, with Phase 1 clinical studies expected to begin by mid-2025[3]. - The company is preparing to initiate a Phase 1b/2a dose-finding study with CLR 121125 in triple-negative breast cancer, targeting significant unmet needs[6]. Clinical Study Results - The Phase 2 CLOVER-WaM study demonstrated an overall response rate (ORR) of 83.6% and a major response rate (MRR) of 58.2%, exceeding the FDA's primary endpoint of 20% MRR[6]. General and Administrative Expenses - General and Administrative expenses rose significantly to approximately 11.7 million in 2023, driven by costs related to commercialization infrastructure[6].
Cellectar Biosciences(CLRB) - 2024 Q4 - Annual Results