Cellectar Biosciences, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

FAIR VALUE (Tables)

FAIR VALUE (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2016 and 2015:

	December 31, 2016
	Level 1		Level 2		Level 3		Fair Value

Liabilities:
February 2013 Public Offering Warrants	$	—	$	—	$	27,125	$	27,125
August 2014 Warrants		—		100,000		—		100,000
Total	$	—	$	100,000	$	27,125	$	127,125

	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

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

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

	October 1, 2015
	Series A			Series B
Volatility		94.33	%		97.57	%
Risk-free interest rate		1.76	%		1.76	%
Expected life (years)		5.00			5.00
Dividend		0	%		0	%

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.

	Year Ended December 31,
	2016		2015

Beginning fair value of warrants	$	2,067,000	$	1,127,500
Fair value of warrants issued in connection with the October 2015 offering		—		3,272,000
Reclassification to equity for warrants that are no longer derivative liabilities		(1,392,429)		—
Gain on derivatives resulting from change in fair value or extinguishment		(647,446)		(2,332,500)
Ending fair value of warrants	$	27,125	$	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:

	Year Ended December 31,
	2016			2015
Volatility		92.72-134	%		87.3-90.0	%
Risk-free interest rate		0.53-1.15	%		0.8-1.1	%
Expected life (years)		1.14-1.89			2.14-2.89
Dividend		0	%		0	%

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 December 31, 2016; however, they were considered financial instruments for a portion of that fiscal year, and the following table summarizes the modified option-pricing assumptions used during the period they were outstanding:

	Year Ended 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		0	%		0	%