Cellectar Biosciences Inc Stock Price, News & Analysis

Cellectar Biosciences (NASDAQ: CLRB) announced on March 9, 2021, that the Japan Patent Office granted patent number 6832861 for its phospholipid-ether (PLE) analogs, enhancing its intellectual property portfolio. This patent secures composition of matter and use for these analogs in combination with various small molecule chemotherapeutics, bolstering their Phospholipid Drug Conjugates™ (PDCs™) franchise. Lead candidate CLR 131 continues to progress in clinical studies for both adult and pediatric cancer indications.

Cellectar Biosciences (NASDAQ: CLRB) announced participation in upcoming conferences for 1x1 meetings. The H.C. Wainwright Global Life Sciences Conference will take place on March 9-10, 2021, and the Roth Capital Partners 33rd Annual Conference from March 15-17, 2021. Interested parties can schedule meetings through provided links. Cellectar focuses on developing cancer-targeting drugs using its Phospholipid Drug Conjugate™ (PDC) platform, including its lead product CLR 131, currently in pivotal trials for various cancers.

Cellectar Biosciences (NASDAQ: CLRB) reported its 2020 financial results and key developments. The company received Orphan Drug Designation from the European Commission for CLR 131 in Waldenstrom’s macroglobulinemia, facilitating reduced fees and market exclusivity. CLR 131 is undergoing pivotal trials for WM, with a primary endpoint focused on response rates. Cellectar successfully closed a $45 million public offering and highlighted CLR 131's potential in treating inoperable brain tumors. As of December 31, 2020, cash and cash equivalents reached $57.2 million, supporting operations for at least another 12 months.

Cellectar Biosciences (NASDAQ: CLRB), a biopharmaceutical firm focused on cancer treatment, announced that its CEO, James Caruso, will present a company overview at the virtual 2021 BIO CEO & Investor Digital Conference from February 16-18, 2021. The presentation will be available for on-demand viewing starting February 12, 2021, at 12:00 PM ET. Cellectar's proprietary Phospholipid Drug Conjugate™ (PDC) platform aims to improve cancer therapies, with CLR 131 currently in clinical studies targeting hematologic malignancies. Replays will be accessible on the company’s website.

Cellectar Biosciences (NASDAQ: CLRB) announced a positive opinion from the European Medicines Agency for CLR 131's orphan designation to treat Waldenstrom’s Macroglobulinemia. This designation grants significant benefits, including 10 years of market exclusivity in the EU. CLR 131 demonstrated a 100% overall response rate with durable effects after treatment. The company is advancing a pivotal trial for CLR 131 in relapsed/refractory patients.

Cellectar Biosciences (NASDAQ: CLRB) has initiated a pivotal trial for CLR 131 targeting Waldenstrom’s macroglobulinemia (WM), a rare and incurable lymphoma. This global, single-arm expansion cohort is part of the Phase 2 CLOVER-1 study and will enroll 50 patients who have failed prior treatments, including BTK inhibitors. The trial aims to assess the response rate, with interim evaluations conducted by an independent monitoring committee. CLR 131 has received FDA Fast Track and Orphan Drug designations, enhancing its pathway for commercialization.

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.