Cellectar Biosciences Inc Stock Price, News & Analysis

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.

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.