Cellectar Biosciences reports Q1 EPS (74c), consensus ($1.00)

As of March 31, 2024, the company had cash and cash equivalents of $40.0M vs. $9.6M as of December 31, 2023. The company believes its cash balance is adequate to fund its basic budgeted operations into Q4 2024. “We plan to announce data from our CLOVER WaM pivotal study evaluating iopofosine I 131 in Waldenstrom’s macroglobulinemia in June and are on track to submit our NDA in the second half of 2024. We remain pleased with patient enrollment in the phase 1b pediatric high-grade glioma study and expect to announce data in the second half of 2024,” said CEO James Caruso. “Either alone or in collaboration, we continue to assess the versatility of our delivery platform with a wide range of cancer targeting compounds including peptides, oligos and our alpha-emitting phospholipid radiotherapeutic conjugate, CLR 121225, which is planned to enter a phase 1 study in either triple negative breast or pancreatic cancer no later than Q1 2025.”