Here's Why Cellectar Biosciences Shares Are Rising

Cellectar Biosciences Inc CLRB shares are trading higher by 12.1% at $0.61 after the company reported better-than-expected fourth-quarter EPS results. Cellectar Biosciences beat estimated earnings by 10.0%, reporting an EPS loss of 9 cents versus an estimate of a loss of 10 cents.

"The data presented from our ongoing trials continue to be very encouraging, and we believe iopofosine has the potential to provide a meaningful therapeutic benefit for patients with Waldenstrom's macroglobulinemia (WM) and other treatment refractory B-cell lymphomas. We continue to make significant strides in our clinical trials as we enroll patients in our ongoing pivotal trial in WM and our Phase 2 CLOVER-1 study," said James Caruso, president and CEO of Cellectar.

"We look forward to sharing our planned interim data safety monitoring assessment from our WM pivotal trial. In the near-term our efforts are supported by a strong balance sheet that will fund our expected clinical and regulatory milestones into the second half of 2023," Caruso added.

Cellectar Biosciences is a clinical stage biopharmaceutical company. It focusses on the development of targeted phospholipid drug conjugates for the treatment and imaging of cancer.

Cellectar Biosciences has a 52-week high of $2.09 and a 52-week low of $0.44.