Cellectar Biosciences Announces Closing of $6.9 Million Underwritten Public Offering, including Full Exercise of Over-Allotment Option
Cellectar Biosciences (NASDAQ:CLRB) has successfully closed its previously announced underwritten public offering, raising $6.9 million in gross proceeds. The offering consisted of 1,045,000 Class A Units priced at $5.00 each and 335,000 Class B Units at $4.99999 each, including the full exercise of the over-allotment option.
Each Class A Unit includes one common stock share and one common warrant, while Class B Units contain one pre-funded warrant and one common warrant. The Common Warrants have a $5.25 exercise price and a 5-year term. The company plans to use proceeds for general corporate purposes and to initiate a Phase 1b clinical study of CLR 121125 in triple-negative breast cancer.
Cellectar Biosciences (NASDAQ:CLRB) ha completato con successo la sua offerta pubblica sottoscritta precedentemente annunciata, raccogliendo 6,9 milioni di dollari in proventi lordi. L'offerta comprendeva 1.045.000 Unità di Classe A a un prezzo di 5,00 dollari ciascuna e 335.000 Unità di Classe B a 4,99999 dollari ciascuna, inclusa la piena esercitazione dell'opzione di sovrallocazione.
Ogni Unità di Classe A include una azione ordinaria e un warrant ordinario, mentre le Unità di Classe B contengono un warrant pre-finanziato e un warrant ordinario. I Warrant Ordinari hanno un prezzo di esercizio di 5,25 dollari e una durata di 5 anni. La società intende utilizzare i proventi per scopi aziendali generali e per avviare uno studio clinico di Fase 1b su CLR 121125 nel carcinoma mammario triplo negativo.
Cellectar Biosciences (NASDAQ:CLRB) ha cerrado con éxito su oferta pública suscrita previamente anunciada, recaudando 6,9 millones de dólares en ingresos brutos. La oferta consistió en 1.045.000 Unidades Clase A a un precio de 5,00 dólares cada una y 335.000 Unidades Clase B a 4,99999 dólares cada una, incluyendo el ejercicio total de la opción de sobresuscripción.
Cada Unidad Clase A incluye una acción común y una garantía común, mientras que las Unidades Clase B contienen una garantía prefinanciada y una garantía común. Las Garantías Comunes tienen un precio de ejercicio de 5,25 dólares y un plazo de 5 años. La empresa planea usar los ingresos para fines corporativos generales e iniciar un estudio clínico de Fase 1b de CLR 121125 en cáncer de mama triple negativo.
Cellectar Biosciences (NASDAQ:CLRB)가 이전에 발표한 공모주 청약을 성공적으로 마감하여 총 690만 달러의 총 수익을 확보했습니다. 이번 공모는 각 5.00달러에 1,045,000개의 클래스 A 단위와 각 4.99999달러에 335,000개의 클래스 B 단위로 구성되었으며, 전체 초과배정옵션이 행사되었습니다.
클래스 A 단위는 보통주 1주와 보통주 워런트 1개를 포함하고, 클래스 B 단위는 선행 자금 조달 워런트 1개와 보통주 워런트 1개를 포함합니다. 보통주 워런트의 행사가격은 5.25달러이며, 만기는 5년입니다. 회사는 수익금을 일반 기업 목적과 삼중음성 유방암에 대한 CLR 121125의 1b상 임상시험 시작에 사용할 계획입니다.
Cellectar Biosciences (NASDAQ:CLRB) a clôturé avec succès son offre publique souscrite précédemment annoncée, levant 6,9 millions de dollars de produits bruts. L'offre comprenait 1 045 000 unités de classe A au prix de 5,00 dollars chacune et 335 000 unités de classe B à 4,99999 dollars chacune, y compris l'exercice complet de l'option de surallocation.
Chaque unité de classe A comprend une action ordinaire et un warrant ordinaire, tandis que les unités de classe B contiennent un warrant préfinancé et un warrant ordinaire. Les warrants ordinaires ont un prix d'exercice de 5,25 dollars et une durée de 5 ans. La société prévoit d'utiliser les fonds pour des besoins généraux d'entreprise et pour lancer une étude clinique de phase 1b de CLR 121125 dans le cancer du sein triple négatif.
Cellectar Biosciences (NASDAQ:CLRB) hat seine zuvor angekündigte öffentlich unterzeichnete Emission erfolgreich abgeschlossen und dabei 6,9 Millionen US-Dollar Bruttoerlös erzielt. Das Angebot bestand aus 1.045.000 Klasse-A-Einheiten zu je 5,00 US-Dollar und 335.000 Klasse-B-Einheiten zu je 4,99999 US-Dollar, einschließlich der vollständigen Ausübung der Mehrzuteilungsoption.
Jede Klasse-A-Einheit umfasst eine Stammaktie und einen Stammwarrant, während Klasse-B-Einheiten einen vorfinanzierten Warrant und einen Stammwarrant enthalten. Die Stammwarrants haben einen Ausübungspreis von 5,25 US-Dollar und eine Laufzeit von 5 Jahren. Das Unternehmen plant, die Erlöse für allgemeine Unternehmenszwecke zu verwenden und eine Phase-1b-Studie mit CLR 121125 bei dreifach negativem Brustkrebs zu starten.
- None.
- Dilutive effect on existing shareholders through new share issuance
- Warrants could lead to additional dilution if exercised
Insights
Cellectar secured $6.9M funding to advance its triple-negative breast cancer drug into Phase 1b trials, strengthening its financial position.
Cellectar Biosciences has successfully closed its underwritten public offering, raising
This capital raise represents a significant development for Cellectar, a late-stage clinical biopharmaceutical company focused on cancer treatments. The participation from healthcare-dedicated funds and executive management signals internal confidence and institutional support for the company's pipeline.
Most importantly, the proceeds will enable Cellectar to initiate a Phase 1b clinical study of CLR 121125 (CLR 125) in triple-negative breast cancer - an aggressive form of breast cancer with limited treatment options. Triple-negative breast cancer represents approximately
The successful completion of this offering, including the full exercise of the over-allotment option, provides Cellectar with the necessary runway to advance its clinical programs while maintaining operational stability. While the offering introduces potential dilution through the additional shares and warrants, the capital infusion strengthens the company's position to execute its clinical development strategy and potentially reach value-creating milestones in its cancer treatment pipeline.
FLORHAM PARK, N.J., July 02, 2025 (GLOBE NEWSWIRE) -- Cellectar Biosciences, Inc. (Nasdaq: CLRB) (the “Company”), a late-stage clinical biopharmaceutical company focused on the discovery and development of drugs for the treatment of cancer, today announced the closing of its previously announced underwritten public offering for gross proceeds of approximately
The offering is composed of (i) 1,045,000 Class A Units (which includes 180,000 Class A Units issued pursuant to the Underwriter's exercise of the over-allotment option in full) with each Class A Unit consisting of (a) one share of common stock and (b) one common warrant to purchase one share of common stock (the “Common Warrants”), and (ii) 335,000 Class B Units with each Class B Unit consisting of (a) one pre-funded common stock purchase warrant to purchase one share of common stock (“Pre-funded Warrants”) and (b) one Common Warrant. The price per Class A Unit is
Ladenburg Thalmann & Co. Inc. acted as sole bookrunning manager in connection with this Offering.
The gross proceeds from the Offering to the Company, before deducting underwriting discounts and commissions and other Offering expenses and excluding any proceeds that may be received upon the exercise of the Common Warrants were approximately
The securities described above were sold pursuant to a registration statement on Form S-1 (File No. 333-288333), which was declared effective by the United States Securities and Exchange Commission (“SEC”) on July 1, 2025. A prospectus relating to the securities was filed with the SEC on July 1, 2025 and is available on the SEC’s website at http://www.sec.gov. Electronic copies of the final prospectus, may also be obtained by contacting Ladenburg Thalmann & Co. Inc., Prospectus Department, 640 Fifth Avenue, 4th Floor, New York, New York 10019 or by email at prospectus@ladenburg.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
About Cellectar Biosciences, Inc.
Cellectar Biosciences is a late-stage clinical biopharmaceutical company focused on the discovery and development of proprietary drugs for the treatment of cancer, independently and through research and development collaborations. The company’s core objective is to leverage its proprietary Phospholipid Drug Conjugate™ (PDC) delivery platform to develop the next-generation of cancer cell-targeting treatments, delivering improved efficacy and better safety as a result of fewer off-target effects.
Forward Looking Statement Disclaimer
This news release contains forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding the use of proceeds and the exercise of the Pre-Funded Warrants and the Common Warrants. You can identify these statements by our use of words such as "may," "expect," "believe," "anticipate," "intend," "could," "estimate," "continue," "plans," or their negatives or cognates. These statements are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. These statements are based on our current beliefs and expectations as to such future outcomes. In addition, drug discovery and development involve a high degree of risk. Factors that might cause such a material difference include, among others, uncertainties related to the ability to identify suitable collaborators, partners, licensees or purchasers for our product candidates and, if we are able to do so, to enter into binding agreements with regard to any of the foregoing, or to raise additional capital to support our operations, or our ability to fund our operations if we are unsuccessful with any of the foregoing. A complete description of risks and uncertainties related to our business is contained in our periodic reports filed with the SEC including our Form 10-K for the year ended December 31, 2024, and our Form 10-Q for the quarter ended March 31, 2025, as well as in our registration statement on Form S-1 as filed with the SEC on June 30, 2025 and the prospectus contained therein, together with any amendments and supplements thereto. These forward-looking statements are made only as of the date hereof, and we disclaim any obligation to update any such forward-looking statements.
Contact
INVESTORS:
Anne Marie Fields
Precision AQ
212-362-1200
annemarie.fields@precisionaq.com
FAQ
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