Cellectar Biosciences (CLRB) Reports Q3 Loss of $0.25
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November 12, 2015 4:45 PM EST
MADISON, Wis., Nov. 12, 2015 (GLOBE NEWSWIRE) -- Cellectar Biosciences, Inc. (NASDAQ: CLRB), an oncology-focused biotechnology company, today announces financial results for the third quarter of 2015.
During the third quarter of 2015, the company reported a net loss of $1.9 million or ($0.25) per share versus net income of $0.3 million or $0.06 per share for the comparable period in 2014. The shift in profitability was attributable to a large non-cash gain on the revaluation of warrants that are classified as derivative liabilities in 2014. Â Research and development expenses for the quarter ended September 30, 2015 were $1.2 million, a reduction of $0.3 million from the year prior.
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