Financial Performance - Cellectar Biosciences reported a net loss of $6.6 million, or $0.14 per share, for the first quarter of 2025, a significant decrease from a net loss of $26.6 million, or $0.91 per share, in the same period of 2024[10]. - Cash and cash equivalents as of March 31, 2025, were $13.9 million, down from $23.3 million as of December 31, 2024, with the current balance expected to fund operations into the fourth quarter of 2025[10]. - Research and development expenses decreased to approximately $3.4 million for the first quarter of 2025, compared to approximately $7.1 million for the same period in 2024, primarily due to reduced patient follow-up activities[10]. - General and administrative expenses were approximately $3.0 million for the first quarter of 2025, down from approximately $4.9 million in the same period of 2024, driven by lower pre-commercialization and personnel costs[10]. Regulatory and Clinical Developments - The company plans to seek conditional marketing approval from the European Medicines Agency for iopofosine I 131 based on Phase 2 CLOVER WaM study data, which showed a major response rate of 59.0% for BTKi-treated patients[2]. - The company anticipates a response from the European Medicines Agency regarding the regulatory pathway for iopofosine I 131 by the end of the third quarter of 2025[2]. - The Phase 3 study for iopofosine I 131 will involve a comparator, randomized controlled study with 100 patients per arm, contingent on obtaining further funding or strategic collaboration[3]. - Cellectar is prepared to initiate a Phase 1b/2a dose-finding study for CLR 121125 in triple-negative breast cancer, pending additional funding[3]. Strategic Initiatives - Cellectar is exploring a full range of strategic alternatives, including mergers, acquisitions, and partnerships, with Oppenheimer & Co. Inc. engaged as an exclusive financial advisor[3]. - Cellectar's product pipeline includes iopofosine I 131, CLR 121225, and CLR 121125, targeting various solid tumors with significant unmet needs[7].
Cellectar Biosciences(CLRB) - 2025 Q1 - Quarterly Results