Madison-based Cellectar Biosciences (fka Novelos Therapeutics, Inc.) has reported a net loss in 2013 of $10.8 million (19 cents/share), compared to its $9.3 million loss (23 cents/share) in 2013. The company reported higher research and development expenses related to preparations for clinical trials: one for a product to image brain cancer, another designed to correctly dose a compound used to treat cancerous tumors. The company is hoping to begin a third study by the end of the year related to imaging the borders of breast cancer tumors.
Cellectar reports $10.8M loss
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