Street Calls of the Week
Cellectar Biosciences, Inc. (NASDAQ:CLRB), a clinical-stage biotech company with a market capitalization of $14.78 million, announced this week that it has entered into agreements with certain holders of its existing warrants, resulting in the exercise of warrants to purchase 1,048,094 shares of common stock at $5.25 per share. According to InvestingPro analysis, while the company maintains more cash than debt on its balance sheet, it’s currently experiencing a rapid cash burn rate. The company also issued new inducement warrants as part of the transaction, raising approximately $5.8 million in gross proceeds. The transactions closed Wednesday.
According to the company’s statement in a press release, the inducement offer covered warrants initially issued on October 25, 2022, July 21, 2024, and July 2, 2025. In addition to exercising their existing warrants for cash, participating holders paid $0.125 per share for new inducement warrants, which were issued in two series.
The Series I inducement warrants are immediately exercisable at $6.00 per share and will expire on October 8, 2030. The Series II inducement warrants are also immediately exercisable at $6.00 per share and will expire on April 8, 2027. The company has agreed to file a registration statement for the resale of shares underlying the new inducement warrants within 15 calendar days of closing.
Cellectar Biosciences stated that the sale of shares underlying the exercised warrants has been registered under prior registration statements filed with the Securities and Exchange Commission. The inducement warrants and the shares issuable upon their exercise were issued under exemptions from registration requirements.
The company also reported a preliminary cash and cash equivalents balance of approximately $12.6 million as of September 30, 2025. Cellectar Biosciences noted that this estimate is preliminary and subject to change once financial statements for the quarter are finalized. The company maintains a healthy current ratio of 2.15, indicating strong short-term liquidity position. However, InvestingPro data shows the company’s overall financial health score remains weak at 1.31 out of 5, primarily due to profitability challenges.
Cellectar Biosciences anticipates that its cash and cash equivalents, combined with net proceeds from the recent warrant exercises and inducement warrant sales, will be sufficient to fund operations into the third quarter of 2026.
All information in this article is based on a press release statement and the company’s recent SEC filing.
In other recent news, Cellectar Biosciences has raised approximately $5.8 million through an agreement with institutional investors to exercise existing warrants. This transaction involved the exercise of over a million warrants at $5.25 each, with an additional payment for new warrants. Additionally, Cellectar announced progress for its cancer treatment, iopofosine I 131, which may soon be eligible for Conditional Marketing Authorization in Europe. This potential approval targets patients with Waldenstrom macroglobulinemia who have not responded to Bruton Tyrosine Kinase inhibitor therapy. If approved, the drug could be available in 30 European countries by 2027. Meanwhile, SelectR Biosciences reported a net loss of $5.4 million for the second quarter of 2025. This loss significantly missed analyst expectations, with an earnings per share forecast of -$0.13. Despite this, the company’s stock showed resilience in premarket trading.
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