Financial Performance - Cellectar Biosciences reported a net loss of 0.14 per share, for the first quarter of 2025, a significant decrease from a net loss of 0.91 per share, in the same period of 2024[10]. - Cash and cash equivalents as of March 31, 2025, were 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 7.1 million for the same period in 2024, primarily due to reduced patient follow-up activities[10]. - General and administrative expenses were 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