The company remains pre-revenue with consistent quarterly operating losses, including a $5.8 million operating loss reported in 2026Q1, reflecting the high fixed-cost burden of its clinical development pipeline.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 |
|---|
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -11K | 33.33K | 96.31K | 125.97K | 0 | 0 | 12.58K | 4.96K |
| Revenue Growth % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 100% | -133% | -65.39% | -23.54% | - | - | -100% | 153.61% | - |
| Cost of Goods Sold | -110.02K | 213.6K | 0 | 0 | 0 | 0 | 0 | 189.36K | 82.27K | 1.55M | 356.67K | 362.5K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.54K |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 51.15% |
| Gross Profit | 110.02K | -213.6K | 0 | 0 | 0 | 0 | 0 | -189.36K | -82.27K | -1.55M | -356.67K | -362.5K | 0 | 0 | 0 | -11K | 33.33K | 96.31K | 125.97K | 0 | 0 | 12.58K | 2.42K |
| Gross Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 100% | 100% | 100% | 100% | - | - | 100% | 48.85% |
| Gross Profit Growth % | - | - | - | - | - | - | 100% | -130.18% | 94.68% | -333.47% | 1.61% | - | - | - | 100% | -133% | -65.39% | -23.54% | - | - | -100% | 419.14% | - |
| Operating Expenses | 22.48M | 22.77M | 51.78M | 38.96M | 28.81M | 24.13M | 15.29M | 13.99M | 11.66M | 13.6M | 9.45M | 8.55M | 9.67M | 11.3M | 8.75M | 6.29M | 5.48M | 10.33M | 16.72M | 20.29M | 8.93M | 5.1M | 627.64K |
| OpEx % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -57195.57% | 16451.72% | 10720.64% | 13270.82% | - | - | 40528.32% | 12648.99% |
| Selling, General & Admin | 11.4M | 11.48M | 25.64M | 11.69M | 9.59M | 6.54M | 5.15M | 4.99M | 4.82M | 4.14M | 4.7M | 3.4M | 3.7M | 4.44M | 3.63M | 2.69M | 2.49M | 2.18M | 2.19M | 2.87M | 2.49M | 1.44M | 365.88K |
| SG&A % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -24476.66% | 7457.95% | 2265.77% | 1738.83% | - | - | 11464.95% | 7373.54% |
| Research & Development | 11.08M | 11.5M | 26.14M | 27.27M | 19.22M | 17.59M | 10.14M | 9M | 6.84M | 9.47M | 4.75M | 5.16M | 5.96M | 6.86M | 5.12M | 3.6M | 3M | 8.08M | 14.53M | 17.43M | 6.44M | 1.14M | 261.77K |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -32718.91% | 8993.77% | 8389.48% | 11531.99% | - | - | 9029.06% | 5275.45% |
| Other Operating Expenses | 0 | -213.6K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 62.98K | 0 | 0 | 0 | 2.52M | 0 |
| Operating Income | -22.37M | -22.98M | -51.78M | -38.96M | -28.81M | -24.13M | -15.29M | -14.18M | -13.33M | -13.6M | -9.45M | -8.76M | -9.89M | -12.4M | -8.75M | -7.04M | -5.45M | -10.23M | -16.59M | -20.29M | -8.93M | -5.09M | -625.22K |
| Operating Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 63979.27% | -16351.72% | -10620.64% | -13170.82% | - | - | -40428.32% | -12600.14% |
| Operating Income Growth % | - | 55.62% | -32.9% | -35.22% | -19.4% | -57.82% | -7.84% | -6.36% | 1.99% | -43.93% | -7.9% | 11.46% | 20.25% | -41.66% | -24.4% | -29.12% | 46.71% | 38.35% | 18.25% | -127.26% | -75.52% | -713.71% | - |
| EBITDA | -22.33M | -22.77M | -51.49M | -38.77M | -28.67M | -23.98M | -15.08M | -13.99M | -13.25M | -12.05M | -9.09M | -8.4M | -9.52M | -11.98M | -8.26M | -6.45M | -5.42M | -10.2M | -16.57M | -20.28M | -8.92M | -5.08M | -622.68K |
| EBITDA Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 58662.54% | -16245.7% | -10587.05% | -13157.41% | - | - | -40402.54% | -12548.99% |
| EBITDA Growth % | 51.38% | 55.78% | -32.8% | -35.24% | -19.53% | -59% | -7.81% | -5.59% | -9.9% | -32.57% | -8.31% | 11.85% | 20.48% | -45.04% | -27.97% | -19.16% | 46.89% | 38.48% | 18.27% | -127.33% | -75.45% | -716.51% | - |
| D&A (Non-Cash Add-back) | 47.28K | 213.6K | 291.65K | 192.38K | 148.44K | 149.91K | 207.93K | 189.36K | 82.27K | 1.55M | 356.67K | 362.5K | 367.2K | 424.76K | 497.25K | 584.84K | 35.34K | 32.35K | 16.89K | 15.37K | 9.52K | 3.24K | 2.54K |
| EBIT | -22.37M | -22.98M | -51.78M | -38.96M | -28.81M | -24.13M | -15.09M | -14.09M | -13.24M | -13.6M | -9.45M | -8.55M | -9.67M | -11.3M | -8.79M | -6.91M | 0 | -10.17M | -16.59M | -19.56M | -8.29M | -2.57M | -606.54K |
| Net Interest Income | 361.13K | 435.1K | 1.21M | 387.15K | 152.52K | 2.28K | 10.9K | 42.71K | 0 | 0 | 0 | -841 | -446.31K | -9.35K | -8.34K | -425.52K | 0 | 1.01K | 130.61K | 0 | 0 | 49.88K | -208.65K |
| Interest Income | 361.13K | 435.1K | 1.21M | 387.15K | 152.52K | 2.28K | 10.9K | 42.71K | 0 | 0 | 0 | 0 | 0 | 0 | 1K | 4.5K | 2.42K | 1.01K | 130.61K | 729.92K | 637.75K | 49.88K | 95 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 29.69K | 16.61K | 7.9K | 841 | 446.31K | 9.35K | 9.34K | 430.02K | 0 | 0 | 0 | 0 | 0 | 0 | 208.74K |
| Other Income/Expense | 1.53M | 1.19M | 7.26M | -3.87M | -3.04M | 8.92K | 196.18K | 85.71K | -1.58M | 38.68K | 3.27M | 3.26M | 1.78M | 522.76K | -42.19K | -1.89M | 7.54M | 10.23M | 16.59M | 737.05K | 382.63K | 5.09M | -190.07K |
| Pretax Income | -20.84M | -21.79M | -44.52M | -42.83M | -31.85M | -24.12M | -15.09M | -14.09M | -13.24M | -13.56M | -6.18M | -5.5M | -8.11M | -10.78M | -8.8M | -7.75M | 0 | 0 | 0 | -29.72M | -8.55M | 0 | -815.28K |
| Pretax Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 70469.15% | - | - | - | - | - | - | -16430.57% |
| Income Tax | 0 | 0 | 66K | -60K | -60K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1.56M | -522.76K | 9.34K | 1.14M | 0 | 0 | 0 | -737.05K | -643.75K | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | -0.15% | 0.14% | 0.19% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 19.28% | 4.85% | -0.11% | -14.76% | - | - | - | 2.48% | 7.53% | - | 0% |
| Net Income | -20.84M | -21.79M | -44.58M | -42.77M | -31.79M | -24.12M | -15.09M | -14.09M | -13.24M | -13.56M | -6.18M | -5.5M | -8.11M | -10.78M | -8.8M | -7.44M | 2.1M | -22.27M | -16.45M | -19.56M | -8.29M | -3.05M | -815.28K |
| Net Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 67594.75% | 6286.05% | -23125.72% | -13059.99% | - | - | -24264.14% | -16430.57% |
| Net Income Growth % | 15.09% | 51.12% | -4.23% | -34.53% | -31.8% | -59.81% | -7.1% | -6.45% | 2.38% | -119.44% | -12.47% | 32.21% | 24.82% | -22.57% | -18.31% | -454.85% | 109.41% | -35.39% | 15.88% | -136.02% | -171.37% | -274.52% | - |
| Net Income (Continuing) | -20.84M | -21.79M | -44.58M | -42.77M | -31.79M | -24.12M | -15.09M | -14.09M | -13.24M | -13.56M | -6.18M | -5.5M | -8.11M | -10.78M | -8.8M | -7.44M | 0 | -22.27M | -16.45M | -19.56M | -8.29M | -3.05M | -815.28K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -4.92 | -8.35 | -41.89 | -104.99 | -135.18 | -130.35 | -228.55 | -550.86 | -1567.96 | -3210.00 | -6420.00 | -21090.00 | -53100.00 | -114000.00 | -138000.00 | -186000.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -183600.00 |
| EPS Growth % | 67.34% | 80.07% | 60.1% | 22.33% | -3.7% | 42.97% | 58.51% | 64.87% | 51.15% | 50% | 69.56% | 60.28% | 53.42% | 17.39% | 25.81% | 97.97% | 81.13% | 5.36% | 26.32% | -230.43% | -64.29% | -6900% | - |
| EPS (Basic) | - | -8.35 | -36.52 | -104.99 | -135.18 | -130.35 | -228.55 | -550.86 | -1567.96 | -3210.00 | -6420.00 | -21090.00 | -53100.00 | -114000.00 | -138000.00 | -186000.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -183600.00 |
| Diluted Shares Outstanding | 4.24M | 2.61M | 1.24M | 407.38K | 235.19K | 185.05K | 66.04K | 25.58K | 9.87K | 4.68K | 1.46K | 261 | 153 | 93 | 69 | 40 | 0 | 0 | 0 | 0 | 0 | 0 | 5 |
| Basic Shares Outstanding | 4.24M | 2.61M | 1.22M | 407.38K | 235.19K | 185.05K | 66.04K | 25.58K | 9.87K | 4.68K | 1.46K | 261 | 153 | 93 | 69 | 40 | 0 | 0 | 0 | 0 | 0 | 0 | 5 |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Capital structure dilution risk
As indicated by the company's historical financial statements, Cellectar maintains a high-fixed cost structure, with quarterly R&D expenditures peaking at $7.9 million in 2023Q4, reflecting the heavy capital requirements necessary to advance the iopofosine I-131 pivotal trial through the regulatory pipeline.
The concentration of spending on clinical trial execution suggests that the company remains in a high-risk development phase where operational costs are decoupled from revenue generation. Investors should monitor whether the recent moderation in R&D spending to $3.0 million in 2026Q1 represents a sustainable efficiency gain or a temporary pause necessitated by liquidity constraints.
Based on reported figures, the company has yet to achieve meaningful operating leverage, as evidenced by consistent quarterly operating losses that reached $13.7 million in 2024Q2, highlighting the structural challenge of scaling a pre-revenue biotechnology firm without a commercialized product to offset overhead.
The lack of revenue means that SG&A expenses, which have fluctuated significantly, currently serve as a pure drain on capital rather than a support mechanism for commercial growth. This pattern suggests that until the lead candidate achieves regulatory approval, the company will continue to face a widening gap between its operational footprint and its ability to generate internal cash flow.
According to SEC filings, the company's net income figures are frequently distorted by non-operating items, such as the revaluation of warrant liabilities, which can cause significant quarterly swings that do not accurately reflect the underlying cash burn or the actual progress of the clinical development program.
The disparity between operating losses and net income in periods like 2024Q4 suggests that investors should prioritize cash flow metrics over GAAP net income to assess the company's true runway. Relying on reported EPS may lead to a misinterpretation of the company's financial health, as these non-cash accounting adjustments often obscure the persistent nature of the operational deficit.
As reported in recent financial disclosures, the company's cash position of approximately $13.2 million appears insufficient to support long-term operations, raising concerns that the firm may be forced into further dilutive financing to bridge the gap toward potential commercialization of its lead radiopharmaceutical candidate.
The reliance on capital markets to fund ongoing clinical trials creates a binary risk profile where any delay in the regulatory timeline could exacerbate the need for additional equity issuance. This dynamic warrants further investigation into the company's ability to secure non-dilutive funding or strategic partnerships, as the current burn rate suggests a limited window of operational independence.
Quick answers to the most common questions about buying CLRB stock.
For fiscal year 2025, Cellectar Biosciences, Inc. (CLRB) reported total revenue of $0.0M. This represents a 100.0% decline compared to $0.0M in 2004.
Cellectar Biosciences, Inc. (CLRB) reported a net loss of $21.8M for the fiscal year ending 2025.