Cellectar Biosciences, a Madison company working on products that diagnose and treat cancerous tumors, reported a net loss of $2.1 million (73 cents/share), nearly identical to last year’s $2.1 million net loss (72 cents/share). Its net loss for the first six months of the year narrowed slightly, from $5.5 million in the first six months of 2013 to $5 million this year.
The company needs to raise money quickly to keep its research going. The money it has on hand ($1.6 million) as of June 30 will reportedly only carry it through August. Last year, the company had $5.8 million in reserve.
