Cellectar Biosciences develops proprietary oncology drugs built around its Phospholipid Drug Conjugate™ (PDC) delivery platform. News about CLRB commonly centers on targeted radiotherapeutic programs, including iopofosine I 131 for Waldenström macroglobulinemia and CLR 121125, also called CLR 125, an iodine-125 Auger-emitting program for solid tumors such as triple negative breast, lung and colorectal cancers.
Company updates also cover clinical data from the CLOVER WaM study, oncology conference presentations, European and U.S. regulatory interactions, intellectual property protection, securities financings, and periodic financial results with corporate updates. The recurring disclosures reflect a late-stage clinical biopharmaceutical company funding and advancing cancer-cell-targeting treatments through internal development and research collaborations.
Cellectar Biosciences (Nasdaq: CLRB) announced a reverse stock split effective July 22, 2022, consolidating every ten shares into one new share. Post-split, approximately 6.1 million shares will be outstanding while the ticker symbol and par value remain unchanged. Stockholder rights will stay the same except for fractional shares, which will be cashed out. The company aims to enhance its share value and improve trading liquidity amid its ongoing development of targeted cancer therapies, particularly iopofosine, currently in pivotal clinical studies.
Cellectar Biosciences, Inc. (NASDAQ: CLRB) reported financial results for Q1 2022, emphasizing the continuation of its pivotal Phase 2b trial of iopofosine for Waldenstrom’s macroglobulinemia (WM) after a positive assessment from an independent data monitoring committee. The company had cash and equivalents of $30.6 million as of March 31, 2022. Net loss for the quarter was $6.1 million, down from $6.4 million in Q1 2021. R&D expenses decreased to approximately $3.9 million, while G&A expenses rose to $2.3 million, reflecting increased professional fees.
Cellectar Biosciences (NASDAQ: CLRB) announced that an independent Data Monitoring Committee has completed a futility/efficacy assessment of its pivotal Phase 2b study of iopofosine in Waldenstrom’s macroglobulinemia (WM) and recommended continuation. The study aims to enroll 50 patients, focusing on a primary endpoint of a 20% major response rate. Cellectar noted an encouraging 83.3% major response rate in a prior study. The pivotal trial will assess treatment-free survival and duration of response, further advancing Cellectar's mission in targeted cancer therapies.
Cellectar Biosciences has announced the appointments of Matthew Hagan as Vice President, Marketing and Strategic Alliances, and David Lasecki as Executive Director, Strategic Alliances. Both bring extensive experience in oncology therapeutics, which the company believes will aid its transition to a commercial-stage entity. Cellectar's pivotal trial for iopofosine, targeting Waldenstrom’s macroglobulinemia, is ongoing, with interim data expected soon. The company continues to develop its Phospholipid Drug Conjugate platform, aiming to enhance cancer treatment efficacy while reducing side effects.
Cellectar Biosciences, Inc. (NASDAQ: CLRB) reported its 2021 financial results, showing a net loss of $24.1 million, or $0.43 per share, up from a $15.1 million loss in 2020. The company highlighted data from its Phase 2 CLOVER-1 study of iopofosine I-131, revealing a 45.5% overall response rate in multiple myeloma patients. Notable progress was made in a Phase 1 study involving children with relapsed high-grade gliomas, with positive tumor response and a recommendation to proceed with higher dosing. Cellectar maintains a strong balance sheet with $35.7 million in cash to fund operations into 2023.
Cellectar Biosciences (NASDAQ: CLRB) announced its participation in upcoming investor conferences, including the Roth Capital Partners 34th Annual Conference on March 15, 2022, and the Oppenheimer 32nd Annual Healthcare Conference on March 16, 2022. Both events will feature fireside chats and opportunities for 1x1 meetings with investors. Cellectar is focused on developing innovative cancer treatments using its proprietary Phospholipid Drug Conjugate platform, with ongoing studies on its lead asset, iopofosine, targeting various cancer types, including Waldenstrom's macroglobulinemia and pediatric cancers.
Cellectar Biosciences (NASDAQ: CLRB) has appointed Chad Kolean as Chief Financial Officer and promoted Jarrod Longcor to Chief Operating Officer. Kolean returns after a successful tenure at other companies, aiming to leverage his extensive industry experience. Longcor, with six years at Cellectar, will oversee operations and strategic growth efforts as the company prepares for a potential NDA filing for its drug targeting Waldenstrom’s macroglobulinemia. The company also plans a pivotal trial assessment of its lead compound, iopofosine I-131, in the near future.
Cellectar Biosciences (NASDAQ: CLRB) announced participation in a fireside chat at the H.C. Wainwright Bioconnect conference, scheduled for January 10-13, 2022. CEO Jim Caruso and CBO Jarrod Longcor will discuss company updates, with the chat available on-demand from 7:00 am ET on January 10.
Cellectar is focused on developing targeted cancer therapies, leveraging its proprietary Phospholipid Drug Conjugate™ (PDC) platform. The pipeline includes iopofosine for relapsed or refractory cancers, currently in pivotal studies.
Cellectar Biosciences (NASDAQ: CLRB) presented promising data from 11 patients in its ongoing Phase 2 CLOVER-1 study of iopofosine I-131 for treating refractory multiple myeloma at the ASH Annual Meeting. The trial showed an overall response rate (ORR) of 45.5%, with a clinical benefit rate (CBR) of 72.7% and a disease control rate (DCR) of 100%. In a subgroup of quad/penta drug refractory patients, the ORR reached 80%.
Despite these positive results, cytopenias were noted as the primary adverse events. The company anticipates sharing further data as the study progresses.
On December 8, 2021, Cellectar Biosciences (NASDAQ: CLRB) announced a poster presentation at the ASH Annual Meeting, showcasing data from the ongoing Phase 2 CLOVER-1 study of iopofosine I-131. The study focuses on eleven patients with triple-class refractory multiple myeloma, highlighting preliminary efficacy and safety results. The poster session will occur on December 11, 2021. Iopofosine is designed for targeted cancer treatment and is undergoing multiple clinical studies, including a pivotal trial for Waldenstrom's macroglobulinemia.