Madison-based Cellectar Inc., which develops drugs for the treatment and diagnosis of cancer, reported a loss during the second quarter.
Cellectar lost $2.3 million (30 cents/share) during the quarter ending June 30. That follows a loss of $2.5 million (73 cents/share) in the same period last year.
According to the company, it ended the quarter with $4.8 million in cash and cash equivalents, compared to $9.4 million in cash and cash equivalents at December 31, 2014. Cellectar estimates that available cash and cash equivalents should fund the company’s planned operations into the fourth quarter 2015.
