Cellectar Biosciences Reports Financial Results for Q3 2024 and Provides a Corporate Update
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 18 2024
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Source: Newsfilter
Cellectar Biosciences Update: Cellectar Biosciences reported positive results from its Phase 2 CLOVER-WaM study for iopofosine I 131, a treatment for Waldenstrom's macroglobulinemia, and plans to file a New Drug Application (NDA) for accelerated approval soon.
Financial Highlights: The company raised approximately $19.4 million and has the potential to raise an additional $73.3 million, with cash reserves sufficient to fund operations into mid-2025, despite reporting increased general and administrative expenses.
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Analyst Views on CLRB
About CLRB
Cellectar Biosciences, Inc. is a late-stage clinical biopharmaceutical company. The Company is focused on the discovery, development, and commercialization of drugs for treatment of cancer. The Company, through its phospholipid ether drug conjugate (PDC) delivery platform, is focused on developing PDCs that are designed to specifically target cancer cells. Its PDC platform possesses the potential for the discovery and development of cancer-targeting treatments, and it plans to develop PDCs both independently and through research and development collaborations. Its lead programs are: Iopofosine I 131 (iopofosine), a beta-emitting iodine-131-based program which has been studied extensively; CLR 121225, an actinium-225-based program; and CLR 121125, an iodine-125 Auger-emitting program. Iopofosine evaluation is ongoing in a Phase IIb study in r/r multiple myeloma and central nervous system lymphoma patients and the CLOVER-2 Phase Ib study for pediatric patients with high grade gliomas.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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Cellectar Plans to Submit iopofosine I 131 for European Approval in 3Q 2026
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