Welcome to our dedicated page for Cellectar Biosciences NEW news (Ticker: CLRB), a resource for investors and traders seeking the latest updates and insights on Cellectar Biosciences NEW stock.
Cellectar Biosciences Inc. (symbol: CLRB) is a clinical-stage biopharmaceutical company dedicated to the discovery, development, and commercialization of innovative drugs aimed at treating cancer. The company's core focus is leveraging its proprietary Phospholipid Drug Conjugate (PDC) delivery platform, which is designed to target cancer cells specifically, thereby enhancing efficacy and reducing off-target effects.
Cellectar's PDC platform is founded on proprietary phospholipid ether analogs, small molecules known for their selective uptake and retention in various cancers. This technology underpins the company's product pipeline, which includes both therapeutic and diagnostic agents for oncology. The lead therapeutic candidate, CLR 131, utilizes the cytotoxic radioisotope iodine-131 as its payload. CLR 131 has received orphan drug designation from the US FDA and is currently being evaluated in a Phase 1 clinical study for relapsed or refractory multiple myeloma and a Phase 2 clinical study for a range of B-cell malignancies.
In addition to CLR 131, Cellectar is working on developing proprietary PDCs for targeted chemotherapeutic delivery, with several candidates in preclinical stages. The company actively collaborates with research and development partners to expand its PDC platform's applications.
Financially, Cellectar maintains a robust pipeline and continues to secure funding for its clinical and preclinical programs. The company’s innovative approach and partnerships highlight its significant role in the biopharmaceutical landscape.
For more detailed and latest updates, please visit Cellectar’s official website or follow their social media channels.
Cellectar Biosciences, Inc. (NASDAQ: CLRB) reported financial results for the year ended December 31, 2022, highlighting a net loss of $28.6 million, or $4.05 per share, compared to a net loss of $24.1 million, or $4.35 per share, in 2021. The company held cash and equivalents of $19.9 million, down from $35.7 million in 2021, with a net cash usage of approximately $25.2 million. R&D expenses rose to $19.2 million from $17.6 million, while G&A expenses increased to $9.5 million from $6.5 million. Notably, the company presented positive clinical data from ongoing trials and announced key leadership appointments, strengthening its commercial strategy in hematology and oncology.
On March 8, 2023, Cellectar Biosciences (NASDAQ: CLRB) announced its participation in two upcoming investor conferences. The Roth Capital Partners 35th Annual Conference will take place on March 13, 2023, featuring a fireside chat from 8:30 to 8:55 AM ET. The Oppenheimer 33rd Annual Healthcare Conference is scheduled for March 14, 2023, with a virtual presentation from 10:00 to 10:30 AM ET. Both events will include opportunities for one-on-one meetings with investors. Cellectar's focus is on developing cancer-targeting drugs, including its lead product, iopofosine, undergoing pivotal studies for various cancers.
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