Cellectar Biosciences, Inc.
CLRBHealthcare|Biotechnology|US
$1.25
+0.10 (+8.70%)
DCF Value
$4.39
Tangible Book / Share
$2.44
Cash / Share
$2.78
Financials
Financial Snapshot
Market Cap
$11.8M
Enterprise Value
-$20.6M
Revenue (TTM)
$0.00
Net Income (TTM)
-$22.3M
Cash & Investments
$34.0M
Net Cash
$32.5M
Free Cash Flow (TTM)
-$19.5M
Operating CF (TTM)
-$19.5M
Debt/Equity
0.05
Cash Runway & Burn Rate
Cash on Hand
$34.0M
Quarterly Burn
$4.9M
Monthly Burn
$1.6M
Est. Runway
~7.0 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $11.4M | $10.0M | $13.3M | $10.6M | $57.2M | $35.7M | $19.9M | $9.6M | $23.3M | $13.2M | $34.0M | |
| Operating Cash Flow | -$8.3M | -$11.0M | -$11.4M | -$11.7M | -$13.9M | -$22.6M | -$25.2M | -$32.4M | -$47.6M | -$23.1M | -$19.5M | |
| Free Cash Flow | -$8.4M | -$11.4M | -$11.8M | -$11.7M | -$14.0M | -$22.7M | -$25.4M | -$33.2M | -$47.7M | -$23.1M | -$19.5M | |
| Capital Expenditure | -$72.3K | -$346.7K | -$385.0K | -$24.5K | -$62.4K | -$141.4K | -$226.0K | -$864.0K | -$104.2K | -$5.9K | -$9.3K | |
| Financing Cash Flow | $15.9M | $9.9M | $15.0M | $9.0M | $60.5M | $1.2M | $9.6M | $22.9M | $61.4M | $13.0M | $42.4M |
R&D Spending
R&D (TTM)
$13.2M
R&D Intensity
—
R&D Growth vs Prior
+15.2%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $4.8M | $9.5M | $6.8M | $9.0M | $10.1M | $17.6M | $19.2M | $27.3M | $26.1M | $11.5M | $13.2M | |
| SG&A | $4.7M | $4.1M | $4.8M | $5.0M | $5.1M | $6.5M | $9.6M | $11.7M | $25.6M | $11.5M | $10.4M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $356.7K | $1.5M | $82.3K | $189.4K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $213.6K | -$110.0K | |
| Gross Profit | -$356.7K | -$1.5M | -$82.3K | -$189.4K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$213.6K | $110.0K | |
| R&D | $4.8M | $9.5M | $6.8M | $9.0M | $10.1M | $17.6M | $19.2M | $27.3M | $26.1M | $11.5M | $13.2M | |
| SG&A | $4.7M | $4.1M | $4.8M | $5.0M | $5.1M | $6.5M | $9.6M | $11.7M | $25.6M | $11.5M | $10.4M | |
| Operating Income | -$9.4M | -$13.6M | -$13.3M | -$14.2M | -$15.3M | -$24.1M | -$28.8M | -$39.0M | -$51.8M | -$23.0M | -$23.5M | |
| Interest Expense | $7.9K | $16.6K | $29.7K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$6.2M | -$13.6M | -$13.2M | -$14.1M | -$15.1M | -$24.1M | -$31.9M | -$42.8M | -$44.5M | -$21.8M | -$22.3M | |
| Net Income | -$6.2M | -$13.6M | -$13.2M | -$14.1M | -$15.1M | -$24.1M | -$31.8M | -$42.8M | -$44.6M | -$21.8M | -$22.3M | |
| EPS (Diluted) | -6420.00 | -3210.00 | -1567.96 | -550.86 | -228.55 | -130.35 | -135.18 | -104.99 | -41.89 | -8.35 | -4.56 | |
| EBITDA | -$9.1M | -$12.1M | -$13.2M | -$14.0M | -$15.0M | -$24.0M | -$31.7M | -$42.6M | -$44.2M | -$21.6M | -$22.3M | |
| Shares Out. (M) | 0.00 | 0.00 | 0.01 | 0.03 | 0.07 | 0.19 | 0.24 | 0.41 | 1.24 | 2.61 | 12.23 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $11.4M | $10.0M | $13.3M | $10.6M | $57.2M | $35.7M | $19.9M | $9.6M | $23.3M | $13.2M | $34.0M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $12.2M | $10.5M | $14.0M | $11.4M | $57.9M | $36.6M | $20.5M | $10.5M | $24.3M | $14.0M | $34.9M | |
| Total Assets | $15.3M | $12.9M | $15.1M | $12.3M | $58.7M | $37.2M | $21.6M | $12.1M | $25.5M | $15.0M | $36.6M | |
| Total Current Liabilities | $1.6M | $2.1M | $1.6M | $2.8M | $3.6M | $4.0M | $11.5M | $25.4M | $9.4M | $4.7M | $5.2M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $1.8M | $2.1M | $1.8M | $3.2M | $3.9M | $4.2M | $12.1M | $25.9M | $11.2M | $5.1M | $6.8M | |
| Stockholders' Equity | $13.5M | $10.8M | $13.3M | $9.1M | $54.8M | $33.0M | $9.5M | -$13.8M | $14.3M | $9.9M | $29.9M | |
| Retained Earnings | -$70.8M | -$84.3M | -$97.6M | -$111.7M | -$126.8M | -$150.9M | -$160.0M | -$202.8M | -$247.3M | -$269.1M | -$281.7M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$8.3M | -$11.0M | -$11.4M | -$11.7M | -$13.9M | -$22.6M | -$25.2M | -$32.4M | -$47.6M | -$23.1M | -$19.5M | |
| Capital Expenditure | -$72.3K | -$346.7K | -$385.0K | -$24.5K | -$62.4K | -$141.4K | -$226.0K | -$864.0K | -$104.2K | -$5.9K | -$9.3K | |
| Free Cash Flow | -$8.4M | -$11.4M | -$11.8M | -$11.7M | -$14.0M | -$22.7M | -$25.4M | -$33.2M | -$47.7M | -$23.1M | -$19.5M | |
| Investing Cash Flow | -$72.3K | -$346.7K | -$330.0K | -$24.5K | -$62.4K | -$141.4K | -$226.0K | -$864.0K | -$104.2K | -$5.9K | -$9.3K | |
| Financing Cash Flow | $15.9M | $9.9M | $15.0M | $9.0M | $60.5M | $1.2M | $9.6M | $22.9M | $61.4M | $13.0M | $42.4M | |
| Issuance of Stock | $12.4M | $4.9M | $9.1M | $9.0M | $59.7M | $34.9K | $9.6M | $0.00 | $61.4M | $13.0M | $42.4M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | -$246.1K | -$89.3K | -$3.0K | -$2.2K | $184.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $529.2K | $758.8K | $721.2K | $866.8K | $467.5K | $1.1M | $1.5M | $2.4M | $4.3M | $2.3M | $428.3K | |
| Net Change in Cash | $7.6M | -$1.4M | $3.2M | -$2.7M | $46.6M | -$21.5M | -$15.8M | -$10.3M | $13.7M | -$10.1M | $23.0M |
Dilution Tracker
Shares outstanding grew 3849.5% over 5 years — significant dilution
Shares Outstanding
9M
5-Year Share Growth
+3849.5%
Stock Issuance (TTM)
$42.4M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 0.00 | 0.00 | 0.01 | 0.03 | 0.07 | 0.19 | 0.24 | 0.41 | 1.24 | 2.61 | 12.23 | |
| Change vs Prior % | — | 221.4% | 111.1% | 159.1% | 158.1% | 180.2% | 27.1% | 73.2% | 203.9% | 110.7% | 369.0% | |
| Stock Issuance | $12.4M | $4.9M | $9.1M | $9.0M | $59.7M | $34.9K | $9.6M | $0.00 | $61.4M | $13.0M | $42.4M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $529.2K | $758.8K | $721.2K | $866.8K | $467.5K | $1.1M | $1.5M | $2.4M | $4.3M | $2.3M | $428.3K |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | -45.6% | -126.1% | -99.8% | -155.6% | -27.5% | -73.0% | -333.4% | 310.5% | -311.9% | -219.7% | -165.7% | |
| ROA % | -40.3% | -105.4% | -87.9% | -115.0% | -25.7% | -64.8% | -147.3% | -354.2% | -175.0% | -145.5% | -60.9% | |
| ROIC % | -68.6% | -132.1% | -99.2% | -147.9% | -27.7% | -72.4% | -283.6% | 294.2% | -320.2% | -222.5% | -74.9% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | 1.6% | -333.5% | 94.7% | -130.2% | 100.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Income | -7.9% | -43.9% | 2.0% | -6.4% | -7.8% | -57.8% | -19.4% | -35.2% | -32.9% | 55.6% | |
| Net Income | -12.5% | -119.4% | 2.4% | -6.4% | -7.1% | -59.8% | -31.8% | -34.5% | -4.2% | 51.1% | |
| EPS (Diluted) | 69.6% | 50.0% | 51.2% | 64.9% | 58.5% | 43.0% | -3.7% | 22.3% | 60.1% | 80.1% | |
| Operating Cash Flow | -0.8% | -33.1% | -3.8% | -2.2% | -19.1% | -62.0% | -11.8% | -28.4% | -47.0% | 51.4% | |
| Free Cash Flow | -1.0% | -36.1% | -4.0% | 0.9% | -19.4% | -62.3% | -12.1% | -30.6% | -43.5% | 51.5% | |
| R&D Expense | -7.9% | 99.3% | -27.8% | 31.6% | 12.7% | 73.4% | 9.3% | 41.9% | -4.1% | -56.0% | |
| SG&A Expense | 38.4% | -12.0% | 16.6% | 3.6% | 3.1% | 27.1% | 46.6% | 21.9% | 119.3% | -55.2% | |
| Total Assets | 101.7% | -16.0% | 17.0% | -18.6% | 378.8% | -36.6% | -42.0% | -44.1% | 111.0% | -41.2% | |
| Book Value / Share | 47.2% | -75.3% | -41.6% | -73.6% | 134.3% | -78.5% | -77.3% | -183.4% | 134.6% | -67.5% | |
| Debt | -72.2% | -94.4% | -57.8% | 23737.7% | -20.1% | -28.4% | 100.1% | -8.4% | -10.7% | -17.1% | |
| Diluted Shares | 457.5% | 221.4% | 111.1% | 159.1% | 158.1% | 180.2% | 27.1% | 73.2% | 203.9% | 110.7% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B0.51
10Y Low / Med / High0.35 / 0.78 / 1.91
EV/EBITDA0.93
10Y Low / Med / High0.23 / 0.66 / 1.04
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$4.39
Tangible Book / Share
$2.44
Net Current Assets / Share
$2.97
Graham Net-Net
$2.23
Cash / Share
$2.78
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -0.57 | -1.28 | -0.30 | -1.23 | -2.73 | -1.52 | -0.38 | -0.79 | -0.25 | -0.35 | -0.27 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | 0.39 | 1.79 | 0.35 | 1.91 | 0.75 | 1.11 | 1.27 | -2.46 | 0.77 | 0.78 | 0.51 | |
| EV/EBITDA | 0.66 | -0.76 | 0.66 | -0.51 | 1.04 | -0.05 | 0.23 | -0.58 | 0.27 | 0.24 | 0.93 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-10.76
Distress
Piotroski F-Score
2
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $3.8M | $7.6M | $46.4M |
| Net Income | -$6.3M | -$4.7M | -$1.5M |
| EPS | $-2.43 | $-1.92 | $-0.56 |
| # Analysts (EPS) | 3 | 3 | 2 |