Wednesday, June 29, 2022

Cellectar Biosciences Inc (NASDAQ:CLRB) Pops Higher on Strong Research Data

Cellectar Biosciences Inc (NASDAQ:CLRB) is a pharmaceutical stock that’s popping up on everyone’s radar. This week has been an critical week for CLRB, as it blasted higher out of a key low consolidation on a strong jump in volume. The catalyst appears to be the CLRB’s announcement this week that its Phospholipid Drug Conjugate research program has generated numerous PDC molecules that show significantly improved pharmacologic activity versus the payload molecule alone.
According to the release, “utilizing a selection of novel linkers to attach proprietary cytotoxic molecules to the company’s PDC platform, Cellectar has formulated new compounds specifically designed for improved tumor targeting and fewer off-target adverse effects. The research has demonstrated that with a variety of payloads, the phospholipid ether molecules provide, on average, a greater than 20-fold increase in delivery of the PDC to cancerous cells.”
Cellectar Biosciences Inc (NASDAQ:CLRB) bills itself as a company developing agents to detect, treat and monitor a broad spectrum of cancers.
Utilizing a novel phospholipid ether (PLE) platform technology as a targeted delivery and retention vehicle, CLRB’s compounds are designed to be selectively taken up and retained in both cancer cells and cancer stem cells. With the ability to attach both imaging and therapeutic agents to its proprietary delivery platform, Cellectar has developed a portfolio of product candidates engineered to capitalize on the unique characteristics of cancer cells to “find, treat and follow” malignancies in a highly selective way. I-124-CLR1404 is a small-molecule, broad-spectrum, cancer-targeted PET imaging agent.
A Phase II trial evaluating I-124-CLR1404 in glioblastoma is expected to be completed in 2014. Additionally multiple, investigator sponsored Phase I/II clinical trials are ongoing across 11 solid tumor indications. I-131-CLR1404 is a small-molecule, broad-spectrum, cancer-targeted molecular radiotherapeutic that delivers cytotoxic radiation directly and selectively to cancer cells and cancer stem cells. Data from a Phase Ib dose-escalation trial of I-131-CLR1404 in patients with advanced solid tumors is anticipated in the first quarter of 2014. CLR1502 is a preclinical, cancer-targeted, non-radioactive optical imaging agent for intraoperative tumor margin illumination and non-invasive tumor imaging.
CLRB was formerly known as Novelos Therapeutics, Inc. and changed its name to Cellectar Biosciences, Inc. in February 2014. Cellectar Biosciences, Inc. was founded in 2002 and is headquartered in Madison, Wisconsin.
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As noted above, CLRB just popped off a key technical low on the company’s announcement that its Phospholipid Drug Conjugate research program has generated numerous PDC molecules that apparently show significant improved pharmacologic activity versus the payload molecule alone. That could be huge news for the company.
“The rapid advancement and positive data from these research programs, coupled with our ongoing collaborations, further validate the unique capabilities and broad utility of our PDC platform,” said Jim Caruso, president and CEO of Cellectar Biosciences.  “We continue to drive our key internal programs in a strategic and cost-efficient manner including the advancement of candidate molecules from these new compound series. The company anticipates sharing additional technical details of this work either in peer reviewed journal articles or at a future oncology conference.”
Recent action has seen 15% piled on for shareholders of the company during the trailing week, a bounce that has taken root amid largely bearish action over the larger time frame. Market participants may want to pay attention to this stock. CLRB is a stock whose past is littered with sudden rips. What’s more, the listing has seen interest climb, with an increase in recent trading volume of just shy of 150% over what the stock has registered over the longer term.
Earning a current market cap value of $24.92M, CLRB has a significant war chest ($8.4M) of cash on the books, which is balanced by virtually no total current liabilities. The company is pre-revenue at this point. This is an exciting story, and we look forward to a follow-up chapter as events transpire. For continuing coverage on shares of $CLRB stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next breakout pick!
Disclosure: We hold no position in $CLRB, either long or short, and we have not been compensated for this article.

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