CLRBW Stock Price, News & Analysis

Cellectar Biosciences (NASDAQ:CLRB) has successfully closed its previously announced underwritten public offering, raising $6.9 million in gross proceeds. The offering consisted of 1,045,000 Class A Units priced at $5.00 each and 335,000 Class B Units at $4.99999 each, including the full exercise of the over-allotment option.

Each Class A Unit includes one common stock share and one common warrant, while Class B Units contain one pre-funded warrant and one common warrant. The Common Warrants have a $5.25 exercise price and a 5-year term. The company plans to use proceeds for general corporate purposes and to initiate a Phase 1b clinical study of CLR 121125 in triple-negative breast cancer.

Cellectar Biosciences (NASDAQ: CLRB), a late-stage clinical biopharmaceutical company focused on cancer drug development, has announced the pricing of an underwritten public offering to raise approximately $6 million in gross proceeds.

The offering consists of 865,000 Class A Units at $5.00 per unit (including one common stock share and one common warrant) and 335,000 Class B Units at $4.99999 per unit (including one pre-funded warrant and one common warrant). The common warrants will have an exercise price of $5.25 per share with a five-year term.

The company plans to use the proceeds for general corporate purposes, working capital, and to initiate a Phase 1b clinical study of CLR 121125 (CLR 125) in triple-negative breast cancer. Ladenburg Thalmann & Co. Inc. is serving as the sole bookrunning manager, with the offering expected to close around July 2, 2025.

Cellectar Biosciences (NASDAQ: CLRB) has entered into a multi-year supply agreement with Nusano for the provision of iodine-125 (I-125) and actinium-225 (Ac-225) isotopes. The partnership will support Cellectar's radiotherapeutic pipeline development, including CLR 125 for triple negative breast cancer and CLR 225 for pancreatic cancer.

The isotopes will be produced at Nusano's next-generation facility in Utah, ensuring uninterrupted access to these essential materials for both clinical development and future commercial needs. This strategic partnership addresses critical supply chain challenges in the production of rare medical radioisotopes at commercial scale.

Cellectar Biosciences (NASDAQ:CLRB) has submitted a protocol to the FDA for a Phase 1b dose-finding study of CLR 125, an Auger-emitting radiopharmaceutical for treating triple-negative breast cancer (TNBC). The study will evaluate three different dosing regimens across 15 patients per arm, totaling 45 patients.

The trial aims to determine the recommended Phase 2 dose, assess safety and tolerability, and evaluate initial response using RECIST criteria and progression-free survival. CLR 125 showed promising preclinical results, demonstrating good tolerability and robust tumor uptake in TNBC animal models. The drug leverages the company's PDC-targeted delivery platform to deliver iodine-125 directly to cancer cell nuclei and mitochondria.

Cellectar Biosciences (CLRB) has announced a 1-for-30 reverse stock split effective June 24, 2025, at 12:01 a.m. Eastern Time. The company's stock will continue trading on Nasdaq under the same symbol with a new CUSIP number 15117F880. This corporate action will reduce outstanding shares from 54,361,197 to approximately 1,812,040. The split was approved by stockholders on June 13, 2025, and will not alter stockholders' ownership percentages except for fractional shares, which will be paid in cash. The reverse split will proportionally adjust equity incentive plans, outstanding stock options, warrants, and preferred stock conversion ratios. Equiniti Trust Company will manage the split process, with no action required from stockholders holding shares either directly or through brokers.

Cellectar Biosciences announced promising initial results from their CLOVER-2 Phase 1 trial of iopofosine I 131 in treating pediatric high-grade glioma (pHGG). Patients receiving a minimum 55 mCi dose (n=7) showed average progression-free survival (PFS) of 5.4 months, more than double the typical 2.25 months median. Overall survival reached 8.6 months, surpassing the standard 5.6 months. Notably, patients receiving four or more infusions (n=3) achieved 8.1 months PFS and 11.5 months overall survival, with two patients showing objective responses. The drug demonstrated good tolerability with manageable side effects, primarily hematologic in nature, with no cardiovascular, renal, liver toxicities, peripheral neuropathy, or significant bleeding reported.

Cellectar Biosciences (NASDAQ: CLRB) has announced agreements to raise $2.5 million through the sale of common stock at market price. The deal involves immediate exercise of outstanding warrants for 8,301,322 shares at a reduced price of $0.3041 per share. These warrants were previously issued between 2020-2024. The offering is expected to close around June 6, 2025, with Ladenburg Thalmann & Co. Inc. serving as exclusive placement agent. The company plans to use the net proceeds for general corporate purposes, including working capital and operating expenses. All shares issuable through warrant exercise are registered or have registered resale under effective registration statements.

Cellectar Biosciences (NASDAQ: CLRB) has received FDA Breakthrough Therapy Designation for iopofosine I 131, a potential first-in-class cancer targeting agent, for treating relapsed/refractory Waldenstrom macroglobulinemia (WM). The designation is supported by impressive Phase 2 CLOVER WaM study results, showing an 83.6% overall response rate and 58.2% major response rate, significantly exceeding the primary endpoint target of 20% MRR. The drug has already secured FDA Fast Track and Orphan Drug Designations, along with EMA Orphan Drug and PRIME Designations. Cellectar has submitted data to the EMA for potential fast-track, conditional marketing authorization, with a response expected in late July 2025. This development represents a significant advancement for WM patients, as current treatment options are limited and the condition remains incurable.

Cellectar Biosciences (NASDAQ: CLRB) reported Q1 2025 financial results and provided corporate updates. The company plans to seek conditional approval from EMA for Iopofosine I 131 in treating Waldenstrom Macroglobulinemia, with Phase 2 CLOVER WaM study showing a 59.0% major response rate in BTKi-treated patients. The company reported cash and equivalents of $13.9 million, down from $23.3 million in December 2024, sufficient to fund operations into Q4 2025. Q1 2025 saw reduced losses with net loss of $6.6 million ($0.14/share) compared to $26.6 million ($0.91/share) in Q1 2024. R&D expenses decreased to $3.4 million from $7.1 million, and G&A expenses reduced to $3.0 million from $4.9 million. The company is exploring strategic alternatives and has engaged Oppenheimer & Co. Inc. as financial advisor.