Welcome to our dedicated page for Cellectar Biosciences news (Ticker: CLRB), a resource for investors and traders seeking the latest updates and insights on Cellectar Biosciences stock.
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) has successfully closed its underwritten public offering, raising $20.0 million in gross proceeds. The offering consisted of 14,601,628 shares of common stock and Series H Warrants for 8,695,664 shares, priced at $1.15 per share. Additionally, 2,789,700 pre-funded warrants were issued to avoid exceeding beneficial ownership thresholds. Funds will support the development of the company’s cancer-targeting drugs, including the CLR 131 therapeutic currently in clinical trials.
Cellectar Biosciences (NASDAQ: CLRB) has announced a public offering priced at $1.15 per share, aiming to raise $20 million in gross proceeds. This offering includes common stock and Series H Warrants, with each whole warrant exercisable at $1.21 per share. Pre-funded warrants will also be available for certain buyers to prevent exceeding a 4.99% ownership threshold. The transaction is expected to close on or around June 5, 2020. Proceeds will support Cellectar's cancer treatment portfolio, including ongoing clinical trials for its lead product, CLR 131.
Cellectar Biosciences, Inc. (NASDAQ: CLRB) has been granted Small and Medium-Sized Enterprise (SME) status by the European Medicines Agency (EMA). This status enables the company to benefit from significant financial incentives, including up to 100% fee reductions for EMA services related to drug development and regulatory processes. The SME status supports Cellectar in pursuing EU marketing authorization for its lead drug, CLR 131, more efficiently and cost-effectively. The company is advancing CLR 131 through clinical studies aimed at treating various cancers.
Cellectar Biosciences, Inc. (NASDAQ: CLRB) announced that the FDA has granted Fast Track Designation for CLR 131, aimed at treating lymphoplasmacytic lymphoma (LPL) and Waldenstrom’s macroglobulinemia (WM) in patients with two or more prior treatments. CLR 131 is designed to deliver radiotherapy directly to cancer cells. In the ongoing CLOVER-1 Phase 2 study, all four LPL/WM patients showed a 100% overall response rate. The company also holds Orphan Drug Designation for CLR 131 in LPL, enhancing FDA engagement for regulatory approval.
Cellectar Biosciences (NASDAQ: CLRB) announced the European Patent Office granted patent EP 2440253, offering protection for the treatment and diagnosis of cancer using their lead asset CLR 131 and proprietary PLE analogs. CLR 131 effectively targets resistant cancer stem cells, providing a unique treatment benefit. The patent strengthens Cellectar's intellectual property in the second-largest global market, enhancing their oncology product portfolio. CLR 131 is currently in Phase 2 studies for B-cell lymphomas and has received Fast Track and Orphan Drug Designations from the FDA.
Cellectar Biosciences (NASDAQ: CLRB) reported strong results for Q1 2020 with CLR 131 achieving primary efficacy endpoints in clinical studies for relapsed/refractory cancers. Key highlights include:
- 42.8% overall response rate in r/r multiple myeloma (MM)
- 100% ORR in r/r Lymphoplasmacytic lymphoma/Waldenstrom’s macroglobulinemia
- Orphan Drug Designation from the FDA for CLR 131
- Cash and cash equivalents at $7.1 million
However, the company recorded a net loss of $4.0 million, indicating continued investment in R&D.