SeeThruEquity Issues Update on Cellectar Biosciences, Inc. (NASDAQ:CLRB)

NEW YORK, NY / ACCESSWIRE / November 16, 2016 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced it issued an update on Cellectar Biosciences, Inc. (NASDAQ: CLRB).

The full report can be downloaded from SeeThruEquity’s website.

Highlights from the update are as follows:

On November 10, 2016, Cellectar provided an upbeat corporate update with the following highlights:

Encouraging clinical update from Cohort 2 of its Phase 1 Study of its lead product candidate, CLR 131 for multiple myeloma. CLR 131 showed a positive adverse event profile with improving efficacy data at the single dosage of 18.75mCi/m2

Significant non-dilutive funding awards including a $2mn NCI grant to fund a Phase 2 study of CLR 131 in multiple myeloma and other selected orphan-designated hematologic malignancies

CLRB announces promising Phase 1 results for CLR 131

On November 10, 2016, Cellectar management provided an upbeat clinical update in which the company reported on Cohort 2 of its Phase 1 study for the potential treatment of relapse / refractory multiple myeloma. The study showed encouraging results with the dose increase in Cohort 2 to 18.75mCi/m2 from 12.5mCi/m2 in Cohort 1, with progression free survival (PFS) increasing by 30% to 120 days and continuing for two of four patients as of October 7, 2016. While the population size of the study was small, it is worth noting that the PFS data compares favorably with pivotal study results for approved multiple myeloma drugs Pomalyst and Daratumumab.

Cohort 3 ongoing, now expecting Phase 2 trial in 1Q17

Management indicated that it has already initiated Cohort 3, and which will consist of a dose of 25mCi/m2, an increase of 33% from 18.75mCi/m2. We are looking forward to data from this Cohort 3 the future. Importantly, Cellectar stated that it was ahead of schedule for the initiation of its Phase 2 Study for CLR 131, which will examine CLR 131 in relapse / refractory multiple myeloma and other hematologic cancers. The company now expects to initiate this study in 1Q17, and should also benefit from access to a $2mn award from the National Cancer Institute (NCI) Fast Track Small Business Innovation Research (“SBIR”), which will be applied to fund a portion of the study. Cellectar stated that the Phase 2 study of CLR 131 will have 60 – 80 patients, and will be designed with the intention to set the stage for a pivotal clinical trial for multiple myeloma. Additionally, the trial should provide meaningful data as to other potential indications for CLR 131.

Maintain price target of $7.44 for Cellectar

We continue to see Cellectar as a high risk / high potential reward company in the biotechnology sector, with the potential to develop and commercialize an impactful new delivery technology in oncology therapeutics.

Please review important disclosures at www.seethruequity.com.

About Cellectar Biosciences, Inc.

Cellectar Biosciences is developing phospholipid drug conjugates (PDCs) designed to provide cancer targeted delivery of diverse oncologic payloads to a broad range of cancers and cancer stem cells. Cellectar’s PDC Delivery Platform is based on the company’s proprietary phospholipid ether analogs. These novel small-molecules have demonstrated highly selective uptake and retention in a broad range of cancers. Cellectar’s PDC pipeline includes product candidates for cancer therapy and cancer diagnostic imaging. The company’s lead therapeutic PDC, CLR 131, utilizes iodine-131, a cytotoxic radioisotope, as its payload. CLR 131 is currently being evaluated under an orphan drug designated Phase 1 study in patients with relapsed or refractory multiple myeloma. The company is also developing PDCs for targeted delivery of chemotherapeutics such as paclitaxel (CLR 1603-PTX), a preclinical stage product candidate, and plans to expand its PDC chemotherapeutic pipeline through both in-house and collaborative R&D efforts. For additional information please visit www.cellectarbiosciences.com.

About SeeThruEquity

Since its founding in 2011, SeeThruEquity has been committed to its core mission: providing impactful, high quality research on underfollowed smallcap and microcap equities. SeeThruEquity has pioneered an innovative business model for equity research that is not paid for and is unbiased. SeeThruEquity is the host of acclaimed investor conferences that are the ultimate event for publicly traded companies with market capitalizations less than $1 billion.

SeeThruEquity is approved to contribute its research reports and estimates to Thomson One Analytics (First Call), the leading estimates platform on Wall Street, as well as Capital IQ and FactSet. SeeThruEquity maintains one of the industry’s most extensive databases of opt-in institutional and high net worth investors. The firm is headquartered in Midtown Manhattan in New York City.

For more information, visit www.seethruequity.com.

Contact:

Ajay Tandon
SeeThruEquity
info@seethruequity.com

SOURCE: SeeThruEquity

ReleaseID: 449110