CLRB - Cellectar Biosciences shares rise after FY results

Cellectar Biosciences (CLRB) shares rise nearly 5% premarket after the company talked up its cash position and posted full-year results. The company had cash and cash equivalents of $57.2M compared to $10.6M at December 31, 2019. The company believes its cash on hand is adequate to fund basic budgeted operations for at least 12 months.Research and development expense for the year ended December 31, 2020 was $10.1M, compared to $9.0M for the year ended December 31, 2019.The net loss for the year ended December 31, 2020 was ($15.1)M, or ($0.76)/share, compared to ($14.1)M, or ($1.84)/share, in 2019.General and administrative expense for the year was $5.1M, compared to $5.2M last year.

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Cellectar Biosciences shares rise after FY results