Cellectar Biosciences Inc

NASDAQ:CLRBUnited States

Ratings actions from Benzinga: https://www.benzinga.com/quote/CLRB/analyst-ratings

(END) Dow Jones Newswires

November 19, 2024 08:33 ET (13:33 GMT)

+++ TABLES TO FOLLOW +++
CELLECTAR BIOSCIENCES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) September 30, December 31, 2024 2023 ------------- ------------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ 34,263,371 $ 9,564,988 Prepaid expenses and other current assets 1,635,818 888,225 ------------ ------------ Total current assets 35,899,189 10,453,213 Property, plant & equipment, net 910,131 1,090,304 Operating lease right-of-use asset 454,166 502,283 Other long-term assets 29,780 29,780 ------------ ------------ TOTAL ASSETS $ 37,293,266 $ 12,075,580 ============ ============ LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) CURRENT LIABILITIES: Accounts payable and accrued liabilities $ 8,304,311 $ 9,178,645 Warrant liability 11,929,242 16,120,898 Lease liability, current 80,821 58,979 ------------ ------------ Total current liabilities 20,314,374 25,358,522 Long-term lease liability, net of current portion 431,929 494,003 ------------ ------------ TOTAL LIABILITIES 20,746,303 25,852,525 ------------ ------------ COMMITMENTS AND CONTINGENCIES MEZZANINE EQUITY: Series D preferred stock, 111.11 shares authorized, issued and outstanding as of September 30, 2024 and December 31, 2023 1,382,023 1,382,023 STOCKHOLDERS' EQUITY (DEFICIT): Series E-2 preferred stock, 1,225.00 shares authorized; 149.60 and 319.76 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 2,188,434 4,677,632 Series E-3 preferred stock, 2,205.00 shares authorized; 202.50 and 0 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 4,369,317 -- Series E-4 preferred stock, 1,610.00 shares authorized; 714.00 and 0 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 7,057,793 -- Common stock, $0.00001 par value; 170,000,000 shares authorized; 40,566,534 and 20,744,110 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 406 207 Additional paid-in capital 246,536,080 182,924,210 Accumulated deficit (244,987,090) (202,761,017) ------------ ------------ Total stockholders' equity (deficit) 15,164,940 (15,158,968) ------------ ------------ TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 37,293,266 $ 12,075,580 ============ ============ CELLECTAR BIOSCIENCES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, ------------------------------- --------------------------------- 2024 2023 2024 2023 --------------- ------------ --------------- ------------ OPERATING EXPENSES: Research and development $ 5,493,496 $ 7,034,656 $ 19,927,019 $ 19,528,898 General and administrative 7,834,181 2,378,804 19,105,853 6,883,866 ----------- ----------- ----------- ----------- Total operating expenses 13,327,677 9,413,460 39,032,872 26,412,764 ----------- ----------- ----------- ----------- LOSS FROM OPERATIONS (13,327,677) (9,413,460) (39,032,872) (26,412,764) ----------- ----------- ----------- ----------- OTHER INCOME (EXPENSE): Warrant issuance expense (7,743,284) (470,000) (7,743,284) (470,000) Gain (loss) on valuation of warrants 6,088,355 (7,688,028) 3,583,440 (8,254,649) Interest income 317,887 51,110 966,643 247,925 ----------- ----------- ----------- ----------- Total other income (expense) (1,337,042) (8,106,918) (3,193,201) (8,476,724) ----------- ----------- ----------- ----------- NET LOSS $ (14,664,719) $(17,520,378) (42,226,073) $(34,889,488) =========== =========== =========== =========== NET LOSS PER SHARE -- BASIC $ (0.37) $ (1.55) (1.21) $ (3.09) =========== =========== =========== =========== NET LOSS PER SHARE -- DILUTED $ (0.40) $ (1.55) (1.39) $ (3.09) =========== =========== =========== =========== WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING -- BASIC 39,335,924 11,308,738 34,850,441 11,277,231 =========== =========== =========== =========== WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING -- DILUTED 39,794,220 11,308,738 35,545,500 11,277,231 =========== =========== =========== ===========