CASI Pharmaceuticals Inc. (NASDAQ:CASI)

Cellectar (NASDAQ: CLRB) Jumps 35% on Expansion of Phase 2 Trial

Cellectar Biosciences (NASDAQ: CLRB), a clinical stage biopharmaceutical company focused on the discovery, development and commercialization of drugs for the treatment of cancer, today announces that the company will increase the targeted patient enrollment in the relapsed/refractory (R/R) multiple myeloma (MM) cohort of its currently enrolling Phase 2 clinical trial of CLR 131. Data from the MM cohort of the study demonstrated that the treatment exceeded pre-specified criteria for clinically meaningful benefit. As a result, the cohort will be expanded up to as many as 40 patients.

About the Phase 2 Study of CLR 131
The Phase 2 study is being conducted in approximately 10 leading cancer centers in the United States for patients with relapsed or refractory B-cell hematologic cancers.

About CLR 131
Cellectar (CLRB) developed CLR 131 as an investigational compound under development for a range of orphan designated cancers. It is currently being evaluated as a single-dose treatment in a Phase I clinical trial in patients with R/R MM as well as in a Phase II clinical trial for R/R MM and select R/R lymphomas with either a one- or two-dose treatment. Based upon preclinical and interim Phase I study data, treatment with CLR 131 provides a novel approach to treating solid and hematological tumors and may provide patients with therapeutic benefits, including overall survival, an improvement in progression-free survival, surrogate efficacy marker response rate, and overall quality of life.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $CLRB and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Cellectar Biosciences Inc (NASDAQ:CLRB)

Cellectar Biosciences Inc (NASDAQ:CLRB) Volumes Explode

Cellectar Biosciences Inc (NASDAQ:CLRB)

Cellectar Biosciences Inc (NASDAQ:CLRB) stock was up over 20% in early trading after the clinical-stage, oncology-focused, biotech company announced its lead PDC compound, CLR 131 has achieved a median 22.5 month survival rate, to date, after a single dose infusion of 12.5mCi/m2 in patients with multiple myeloma. The Madison, WI-based company closed Monday’s trading at $1.58, then gapped up to open at $1.95 before settling back into trading around $1.88 as of 9:50AM EST. Volume for the biotech stock has increased massively if today’s trend holds. Normally thinly traded, CLRB has a listed average volume figure of 92,000. However by 10AM EST over 3.7 million shares of the company had exchanged hands. One month price chart for Cellectar stock:

Cellectar Biosciences Inc (NASDAQ:CLRB)
One month Cellectar stock price chart

Cellectar Biosciences Inc (NASDAQ:CLRB), formerly known as Novelos Therapeutics, Inc., develops targeted phospholipid drug conjugates (PDCs) for cancer treatment and imaging. Cellectar’s lead product candidate is CLR 131. CLR 131 is being developed for the treatment of relapse or refractory multiple myeloma and is currently in Phase 1 trials (described above). CLR 131 is also in Phase II clinical trials for the treatment of B-cell malignancies. Cellectar is also developing CLR 125 and CLR 124 – both candidates for cancer treatments in different indications. Lastly, the company is developing CLR 1601-PTX, CLR 1602-PTX, and CLR 1603-PTX – all in pre-clinical research for the treatment of chemotherapy.

YTD, Cellectar Biosciences Inc (NASDAQ:CLRB) stock is up over 30% but is down for the year by over 35%. Shareholders have been experiencing losses annually but the losses have been shrinking year-on-year. In 2012, the per share loss was (-$45.43). That loss contracted every year and in 2016 the per share loss was just (-$1.36). However, in 2016 the company massively diluted its shareholders. In 2015 780,000 shares were outstanding. In 2016 that number grew to 4.54 million. Analysts have a consensus price target on CLRB of $3.10.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $CLRB and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Cellectar Biosciences Inc (NASDAQ:CLRB) Expands Its Association With WARF

Cellectar Biosciences Inc (NASDAQ:CLRB)

Cellectar Biosciences Inc (NASDAQ:CLRB) is an oncology-focused, clinical phase biotechnology firm. Cellectar has announced that it has finalized a licensing deal with the Wisconsin Alumni Research Foundation for IP rights constituting the method of use for the firm’s major PDC compound, CLR 131, in people with multiple myeloma.

The update

Carrie Thome, WARF’s Director of Investments, reported that they are extremely delighted to further strengthen their association with Cellectar. WARF’s ability to utilize the assets that exist in their portfolio to advance new technology towards commercialization brings investment management capabilities and technology transfers together.

WARF is a shareholder in Cellectar and a joint titleholder with Cellectar Biosciences Inc (NASDAQ:CLRB) of the MOU patent submission for CLR 131 for the cure of multiple myeloma. Though the firm has always upheld the rights to advance and commercialize ‘CLR 131’ for multiple myeloma, the implementation of this licensing contract offers the firm exclusive rights for the advancement and commercialization of the composite in multiple myeloma.

As a product of this deal, the firm has now consolidated its switch of the multiple myeloma sign, while continuing to uphold complete control for all other beneficial uses of CLR 131.

Jim Caruso, the CEO and President of Cellectar Biosciences Inc (NASDAQ:CLRB), reported that WARF is one of company’s largest shareholders and continues to be a formidable associate. They consider this expansion of their association to further strengthen their mutual commitment. Acquiring the outstanding rights to the application of CLR 131 in multiple myeloma offers the company complete control on the product’s advancement and commercialization in therapeutic areas.

CLR 131 is a new compound under advancement for an array of hematologic malignancies. It is being assessed as a single-dose cure in a Phase I clinical study in people with refractory or relapsed multiple myeloma. In Q1 2017, the firm intends to start a Phase II clinical trial to progress its multiple myeloma program, evaluate efficacy in an array of B-cell malignancies, and assess the clinical advantages of a second dose.

Cellectar Biosciences Inc (NASDAQ:CLRB) reported that depending upon interim and preclinical Phase I trial data, cure with CLR 131 offers a novel approach to curing hematological diseases and may offer patients therapeutic advantages, including OS and improvement in PFS, surrogate efficiency marker response rate, and a general improvement in their quality of life. CLR 131 uses the firm’s patented PDC tumor aiming delivery platform to offer iodine-131 directly to tumor cells.

Ticker CLRB
Market Cap $29.52M
P/E 2.38
EPS (ttm) $1.1
Shares Outstanding 11.31
Shares Float 10.39
Insider Ownership 2.40%
Float Short 12.19%
Short Ratio 1.32
Performance (Quarter) 86.43%
Performance (Year) -47.06%
Performance (YTD) 113.93%
Beta 0.44
Average Volume 955.99K
Price $2.61
Volume 3,34,340
Target Price $5.27

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

About the author: Monica Gray has an undergraduate degree in Accounting and an MBA – earned with Honors. She has six years of experience in the financial markets and has been a securities analyst for the past two years.