** Drug developer Cellectar Biosciences' CLRB.O shares fall 44.3% to 71 cents premarket

** On Tuesday, CLRB said it may sell its experimental cancer drug to a larger firm or partner with it

** The decision follows discussions with the U.S. FDA on approval requirements for the drug - CLRB

** Co says it will lay off 60% of its employees to extend its operational runway into Q3 2025

** As of Dec. 31, 2023, CLRB had 20 employees - SEC filing

** As of last close, stock has fallen 53.8% YTD

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))