Cellectar Biosciences, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE (Tables)

FAIR VALUE (Tables)

9 Months Ended

Sep. 30, 2016

Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]

The following tables set forth the Company’s financial instruments carried at fair value using the lowest level of input applicable to each financial instrument as of September 30, 2016 and December 31, 2015:

	September 30, 2016
	Level 1		Level 2		Level 3		Fair Value

Liabilities:
February 2013 Public Offering Warrants	$	—	$	—	$	66,650	$	66,650
August 2014 Warrants		—		121,000		—		121,000
Total	$	—	$	121,000	$	66,650	$	187,650

	December 31, 2015
	Level 1		Level 2		Level 3		Fair Value

Liabilities:
February 2013 Public Offering Warrants	$	—	$	—	$	209,000	$	209,000
August 2014 Warrants		—		2,714,000		—		2,714,000
October 2015 Warrants		—		—		1,858,000		1,858,000
Total	$	—	$	2,714,000	$	2,067,000	$	4,781,000

Schedule Of Changes In Fair Value Warrants Classified Level Three [Table Text Block]

The following table summarizes the changes in the fair market value of the Company’s warrants which are classified within the Level 3 fair value hierarchy.

	Nine Months
	Ended		Twelve Months Ended
	September 30,		December 31,
	2016		2015
Beginning balance – Fair value	$	2,067,000	$	1,127,500
Fair value of warrants issued in connection with the October 2015 offering		—		3,272,000
Gain on derivatives resulting from change in fair value or extinguishment		(2,000,350)		(2,332,500)
Ending balance – Fair value	$	66,650	$	2,067,000

2013 Warrants [Member]

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]

The following table summarizes the modified option-pricing assumptions used:

	Nine Months			Twelve Months
	Ended			Ended
	September 30,			December 31,
	2016			2015
Volatility		92.72-120.0	%		87.3-90.0	%
Risk-free interest rate		0.53-0.73	%		0.82-1.10	%
Expected life (years)		1.39-1.89			2.14-2.89
Dividend		—	%		—	%

2015 Warrants [Member]

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]

As is noted above, none of the October 2015 Warrants are considered financial instruments as of September 30 2016; however, they were considered financial instruments for a portion of the current fiscal year, and the following table summarizes the modified option-pricing assumptions used during the period they were outstanding:

	Nine Months
	Ended			Twelve Months Ended
	September 30,			December 31,
	2016			2015
Volatility		89.73	%		97.57	%
Risk-free interest rate		1.65	%		1.70	%
Expected life (years)		4.50			4.75
Dividend		—	%		—	%