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Tag: Cellectar Biosciences Inc.

  • What Drove The CLRB Stock Up In Extended Trading?

    What Drove The CLRB Stock Up In Extended Trading?

    After-hours trading on Thursday showed shares of Cellectar Biosciences Inc. (CLRB) increasing 4.50% to $1.16. In yesterday’s trading, the price of Cellectar stock fell by -1.77%, ending at $1.11 on the day. Trading volume for the CLRB stock was 1.95 million shares, below the average daily volume of 0.68 million shares for the last 50 days.

    Within the last five days, CLRB shares have lost -6.72%, but their price has dropped -26.97% over the last thirty days. CLRB share price has declined -27.92% over the last three months, while it has lost -27.45 percent for the year. After the company announced that its CEO would participate in an international healthcare conference, the price of CLRB stock rose.

    CLRB will be participating in what event?

    Cellectar focuses on discovering and developing drugs for treating cancer. In addition to developing proprietary drugs independently, CLRB collaborates with various research institutions. The main objective of CLRB is to leverage its proprietary Phospholipid Drug Conjugate (PDC) delivery platform to develop PDCs that target cancer cells specifically, delivering better efficacy and safer side effects due to fewer off-target effects. In order to discover and develop the next generation of cancer-targeting treatments, CLRB is developing its PDC platform independently as well as working with outside companies to achieve that goal.

    Cellectar announced that James Caruso, president, and CEO, will present a company overview at the Ladenburg Thalmann 2021 Virtual Healthcare Conference.

    A one-on-one meeting will also be possible with the CLRB CEO. CLRB head will present the company overview on July 14, 2021, at 3:00 pm ET. Live webcast of the presentation by CLRB CEO will also be available at https://wsw.com/webcast/ladenburg7/clrb/2395361. The CLRB website will have a replay of the presentation available under the Events section.

    Cellectar announced recently that Dr. Asher Alban Chanan-Khan has been elected an independent director on its board.

    • He will bring to CLRB a wealth of distinguished medical and scientific experience related to cancer, particularly in hematological cancers.
    • CLRB will benefit greatly from his insight and advice as it builds its pipeline of cancer-targeting assets and further optimizes its PLE-conjugate platform technology.
    • The CLR 131 and the phospholipid ether delivery vehicle offered by CLRB have high potential and great opportunities.

    How the addition will help CLRB move forward?

    Cellectar (CLRB) recently presented data on CLR 131 at ASCO in which the clinical benefits of this novel, fixed duration treatment for Waldenstrom’s disease were clearly demonstrated. CLRB has appointed Dr. Asher to work alongside its team of investigators as CLRB develops CLR 131 through clinical trials and demonstrates the technology’s considerable capability through further research.

  • Cellectar Biosciences Inc. (CLRB) stock gains during pre-market session. Why is it so?

    Cellectar Biosciences Inc. (CLRB) stock gains during pre-market session. Why is it so?

    Cellectar Biosciences Inc. (NASDAQ: CLRB) stock declined by 4.60% in the last trading close while the CLRB stock rises by 4.22% in the pre-market trading session. As of now, there is no latest news available regarding the rise of CLRB stock in pre-market. Cellectar Biosciences is a biopharmaceutical company with its focus on developing and commercializing drugs specifically for the treatment of cancer.

    Recent Developments

    On March 9, 2021, CLRB announced that the Japan patent office has issued Cellectar Biosciences with patent number 6832861 which is titled as “Phospholipid-Ether Analogs as Cancer-Targeting Drug Vehicles”. The patent protects CLRB’s exclusive phospholipid-ether (PLE) which works as delivery vehicle analogs in association with a wide variety of widely used chemotherapeutic groups such as alkaloids, nucleoside analogs, and other small molecule chemotherapeutic agents.

    Also, Cellectar Biosciences was supposed to participate in two recent conferences in March 2021.

    • On March 16, CLRB was happened to present at Oppenheimer 31st Annual Healthcare Conference.
    • And from March 17-19 CLRB participated in Maxim Group 2021 Emerging Growth Virtual Conference.

    Financial Results for the year 2020

    Recently On March 2, 2021 CLBR announced its financial results for the year 2020. The summary of financial results is given below:

    • The cash and cash equivalents generated by CLRB for the year 2020 was $57.2 million compared to $10.6 million for the year 2019.
    • Cellectar Biosciences has recorded its Research and Development as &10.1 million for the year ended December 31, 2021. While the R&D expense for the year 2020 was $9.0 million. The increase in Research and Development expense is approximately 13% compared to the previous year.
    • The net loss that is attributable to common stockholders was $15.1 million for the year 2020 compared to $ 14.1 for the previous year.
    • CLBR has reported the General and administrative expense as $5.1 million for the year ended on December 31, 2020 comparatively the values were a bit high in the year 2019 as $5.2 million.