FORM10-Q [mark one]QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 ☒For the quarterly period ended: March 31, 2026☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from ______________ to ______________ Commission File Number 1-36598 CELLECTAR BIOSCIENCES,INC.(Exact name of registrant as specified in its charter) DELAWARE04-3321804(State or other jurisdiction of(IRS Employerincorporation or organization)Identification No.) 100 Campus DriveFlorham Park, New Jersey 07932(Address of principal executive offices, including zip code) (608) 441-8120(Registrant’s telephone number, including area code) (Former name, former address and former fiscalyear, if changed since last report) Securities registered pursuant to Section12(b)of the Act: Nameofeachexchangeonwhichregistered NASDAQ Capital Market Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the SecuritiesExchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file suchreports), and (2)has been subject to such filing requirements for the past 90days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12months (or for such shorter period thatthe registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filer☐Accelerated filer☐Non-accelerated filer☒Smaller reportingcompany☒Emerging growthcompany If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☒ Number of shares outstanding of the issuer’s common stock as of the latest practicable date: 7,991,812 shares of common stock,$0.00001 par value per share, as of May 12, 2026. CELLECTAR BIOSCIENCES,INC. FORM10-Q INDEX Forward-Looking Statements3PARTI. FINANCIAL INFORMATION5Item 1. Financial Statements5Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations22Item 4. Controls and Procedures32PARTII. OTHER INFORMATION34Item 1.Legal Proceedings34Item1A.Risk Factors34Item 6. Exhibits36 FORWARD-LOOKING STATEMENTS This quarterly report on Form10-Q of Cellectar Biosciences,Inc. (the “Company”, “Cellectar”, “we”, “us”, “our”)contains forward-looking statements within the meaning of Section21E of the Securities Exchange Act of 1934, asamended, which we refer to as the Exchange Act. Examples of our forward-looking statements include: ●our current views with respect to our business strategy, business plan and research and development activities;●the progress of our product development programs, including clinical testing and the timing ofcommencement and results thereof;●statements regarding execution of our regulatory strategy, including related to our potential initiation of aPhase 3 trial of iopofosine I 131 (also known as iopofosine or CLR 131) for the treatment of Waldenstrommacroglobulinemia (WM) patients;●our projected operating results, including research and development expenses;●our ability to continue developing iopofosine I 131;●whether the milestones and other conditions to the mandatory exercise of the milestone-based warrants willbe satisfied;●our ability to obtain additional funding via the sale of equity and/or debt securities, a strategic transaction orotherwise;●our ability to continue development plans for our clinical and preclinical assets;●our ability to continue development plans for our Phospholipid Drug Conjugates (PDC)™;●our ability to advance our technologies into product candidates;●our ability to maintain orphan drug designation in the U.S. for iopofosine as a therapeutic for the treatment ofmultiple myeloma, neuroblastoma, osteosarcoma, rhabdomyosarcoma, Ewing’s sarcoma andlymphoplasmacytic lymphoma/WM, and the expected benefits of orphan drug status;●any disruptions to our suppliers;●our current view regarding general economic and market conditions, including our competitive strengths;●uncertainty and economic instability resulting from conflicts, military actions, terrorist attacks, naturaldisasters, public health crises, including the occurrence of a contagious disease or illness, cyber-atta