Cellectar Biosciences Inc - CLRB STOCK NEWS

On December 28, 2020, Cellectar Biosciences (NASDAQ: CLRB) completed an underwritten public offering of common stock, raising approximately $24.5 million at $1.35 per share. Concurrently, a private placement of Series D convertible preferred stock generated about $20.5 million. Each share of Series D can convert into 10,000 common shares upon stockholder approval as per Nasdaq rules. This funding will support Cellectar's cancer drug development efforts, including their clinical studies for CLR 131.

Cellectar Biosciences (NASDAQ: CLRB) announced a public offering of common stock, raising approximately $24.5 million at $1.35 per share. The offering is registered under Form S-3, effective since August 20, 2020. Concurrently, a private placement of Series D convertible preferred stock is expected to generate about $20.5 million. Each share of preferred stock is convertible into shares of common stock, pending stockholder approval. Both transactions are set to close around December 28, 2020. Proceeds will support the company’s cancer treatment initiatives.

Cellectar Biosciences (NASDAQ: CLRB) announced plans to offer shares of its common stock in an underwritten public offering, subject to market conditions. This offering will be accompanied by a private placement of common stock and convertible preferred stock to certain investors at the public offering price. Oppenheimer & Co. Inc. will serve as the sole book-running manager for this offering. The shares will be issued under a shelf registration statement effective since August 2020. This announcement shapes CLRB's capital-raising strategy amid ongoing cancer treatment drug development.

Cellectar Biosciences (NASDAQ: CLRB) reported its Q3 financial results for 2020, highlighting significant developments in cancer treatment. Cash and cash equivalents rose to $18.8 million from $10.6 million at the end of 2019. The company announced promising clinical results for CLR 131, achieving a 40% overall response rate in triple-class refractory multiple myeloma patients and a 100% overall response rate in lymphoplasmacytic lymphoma/Waldenström macroglobulinemia. Net loss totaled $3.9 million, or $0.15 per share. R&D and G&A expenses remained stable, reflecting ongoing clinical study investments.

Cellectar Biosciences (NASDAQ: CLRB) announced promising results for CLR 131 in treating inoperable brain tumors, particularly in pediatric patients. In a Phase 1 study, CLR 131 demonstrated preliminary activity and safety across multiple dose levels up to 75mCi/m². The drug effectively crossed the blood-brain barrier, targeting tumors directly. Initial disease control was noted in heavily pretreated patients with ependymomas, showcasing CLR 131's potential as a viable treatment alternative to standard care options. Future developments will include feedback from FDA guidance on regulatory pathways.

Cellectar Biosciences (NASDAQ: CLRB) reported a promising 40% overall response rate (ORR) in triple class refractory multiple myeloma patients during its CLOVER-1 study. This rate was observed in a subset of heavily pre-treated patients (6 out of 15) receiving 60 mCi or more of CLR 131. The study suggests that CLR 131 may offer a significant treatment option, with no unexpected adverse events reported and generally well-tolerated. Additionally, the company secured approximately $2 million in non-dilutive funding from the National Cancer Institute to support the study.

Cellectar Biosciences (CLRB) announced promising interim results from its Phase 2a CLOVER-1 study for CLR 131, highlighting a 100% overall response rate in patients with relapsed or refractory lymphoplasmacytic lymphoma (LPL) and Waldenstrom's macroglobulinemia (WM). Key findings include a 75% major response rate and a median duration of response exceeding 17 months. No significant adverse events were reported, suggesting CLR 131 could be a vital treatment option. The FDA has granted Fast Track Designation for CLR 131, and the company plans to initiate a pivotal study in Q4 2020.

Cellectar Biosciences (NASDAQ: CLRB) announced a poster presentation for its drug candidate, CLR 131, at the virtual AACR annual meeting from August 17-19, 2020. The presentation highlights CLR 131's 100% overall response rate in a Phase 2 study for relapsed or refractory lymphoplasmacytic lymphoma/Waldenstrom’s macroglobulinemia. CLR 131 is designed for targeted delivery of iodine-131 directly to cancer cells. The Phase 2 CLOVER-1 study is currently enrolling patients and aims to evaluate treatment efficacy in various B-cell cancers.

Cellectar Biosciences (NASDAQ: CLRB) announced the European Patent Office's intent to grant patent EP3229810 for its proprietary phospholipid ether (PLE) drug delivery system. This patent offers protection for PLE analogs in combination with chemotherapeutics like paclitaxel and gemcitabine and supports the development of CLR 131, Cellectar's lead candidate for treating various cancers. CEO James Caruso emphasized this patent as a pivotal step in expanding their market presence and enhancing drug delivery efficiency. CLR 131 is currently in clinical studies targeting multiple myeloma and pediatric cancers.