Cellectar Receives $2M NIH Grant For Rare Lymphoma Study

Cellectar Biosciences Inc CLRB has received a peer-reviewed National Institutes of Health (NIH) Phase II Small Business Innovation Research (SBIR) grant of approximately $2 million from the National Cancer Institute (NCI).
The Company is currently conducting a pivotal study of iopofosine I-131 (CLR 131) in Waldenstrom's macroglobulinemia (WM) patients who have received at least two prior lines of therapy.
The study was initiated in January of 2021 and will take approximately 18 months to enroll fully.
With the addition of this grant, Cellectar said over $46.8 million in cash and cash equivalents would provide a forecasted cash runway into Q3 2023.
Waldenstrom's macroglobulinemia is lymphoma or cancer of the lymphatic system.
The disease occurs in a type of white blood cell called a B-lymphocyte or B-cell, which matures typically into a plasma cell whose job is to manufacture immunoglobulins (antibodies) to help the body fight infection.
Price Action: CLRB shares are down 0.82% at $0.87 during the market session on the last check Wednesday.