Cellectar Biosciences Stock (NASDAQ: CLRB)

Cellectar Biosciences (NASDAQ:CLRB) Stock

Cellectar Biosciences

Cellectar Biosciences Inc is a clinical-stage biopharmaceutical company. It is focused on the discovery, development and commercialization of drugs for the treatment of cancer. The company's core objective is to leverage proprietary phospholipid drug conjugate (PDC) delivery platform to develop PDCs that are designed to specifically target cancer cells and deliver improved efficacy and safety as a result of fewer off-target effects. Its PDC therapeutic, iopofosine is a small-molecule PDC designed to provide targeted delivery of iodine-131 directly to cancer cells, while limiting exposure to healthy cells.

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Due to FDA communications, Cellectar Biosciences will explore options for development of its cancer drug. Focus on isotopes for solid tumors.

Cellectar Biosciences Stock Plunges As Cancer-Focused Cancer Firm Pursues Strategic Options

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Cellectar Biosciences, Inc. - Common Stock

Cellectar Biosciences Inc

<ul>
<li>Oral Presentation Presented at ASH 2024 Showed Iopofosine I 131 Achieved an 83.6% ORR and Exceeded Primary and Secondary Efficacy Endpoints in Phase 2 CLOVER-WaM Study for Relapsed/Refractory Waldenstrom's Macroglobulinemia</li>
<li>Plans to Advance Iopofosine I 131 Internally, Through Strategic Partnerships and Other Approaches; Finalizing Confirmatory Study and Pathway for US FDA Accelerated Approval and EMA Prime Marketing Authorization</li>
<li>Advancing Radiotherapeutic Assets including Alpha- and Auger-emitting Radioconjugates into Phase 1/2a Solid Tumor Studies</li>
</ul>

Reported Earlier, Cellectar Highlights Path Toward Accelerated Approval For Iopofosine I 131 and Expands Radioconjugate Development

<h3>Gainers</h3>
<ul>
<li>Candel Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CADL#NASDAQ">CADL</a>) shares moved upwards by 172.2% to $12.55 during Wednesday's pre-market session. The company's market cap stands at $407.5 million. </li>
<li>NewGenIvf Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIVF#NASDAQ">NIVF</a>) stock rose 34.75% to $0.53. The company's market cap stands at $5.3 million. </li>
<li>Patterson Cos (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDCO#NASDAQ">PDCO</a>) stock moved upwards by 34.18% to $31.01. The market value of their outstanding shares is at $2.7 billion. As per the news, the Q2 earnings report came out 4 days ago. </li>
<li>Synlogic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYBX#NASDAQ">SYBX</a>) stock increased by 17.3% to $1.7. The market value of their outstanding shares is at $19.8 million. </li>
<li>Bio-Path Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPTH#NASDAQ">BPTH</a>) stock moved upwards by 14.86% to $0.85. The company's market cap stands at $3.6 million. </li>
<li>Moleculin Biotech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBRX#NASDAQ">MBRX</a>) shares moved upwards by 14.71% to $2.65. The market value of their outstanding shares is at $7.9 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Q32 Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QTTB#NASDAQ">QTTB</a>) shares declined by 67.0% to $8.05 during Wednesday's pre-market session. The market value of their outstanding shares is at $98.0 million. </li>
<li>Cellectar Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLRB#NASDAQ">CLRB</a>) shares decreased by 66.41% to $0.43. The company's market cap stands at $17.7 million. </li>
<li>AnaptysBio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANAB#NASDAQ">ANAB</a>) shares declined by 36.51% to $14.66. The market value of their outstanding shares is at $446.0 million. </li>
<li>TFF Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TFFP#NASDAQ">TFFP</a>) shares declined by 33.88% to $0.2. </li>
<li>ImmunityBio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBRX#NASDAQ">IBRX</a>) stock declined by 28.24% to $3.33. The market value of their outstanding shares is at $2.3 billion. </li>
<li>Hepion Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HEPA#NASDAQ">HEPA</a>) stock fell 26.93% to $0.46. The market value of their outstanding shares is at $3.2 million. 
See Also: <a href="http://www.benzinga.com/money/best-healthcare-stocks/" title="www.benzinga.com/money/best-healthcare-stocks/">www.benzinga.com/money/best-healthcare-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ANAB

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12 Health Care Stocks Moving In Wednesday's Pre-Market Session

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 300 points on Wednesday.
The Dow traded up 0.49% to 44,296.79 while the NASDAQ rose 1.70% to 20,022.55. The S&amp;P 500 also rose, gaining, 0.89% to 6,088.63.
Check This Out: <a href="https://www.benzinga.com/24/12/42432935/top-3-health-care-stocks-that-may-collapse-this-quarter">Top 3 Health Care Stocks That May Collapse This Quarter</a>
Leading and Lagging Sectors Communication services shares jumped by 3.1% on Wednesday.
In trading on Wednesday, health care shares fell by 1%.
Top Headline
Macy's Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) reported third-quarter sales of $4.74 billion, beating the consensus of $4.72 billion.
The retailer reported adjusted EPS of $0.04, down from $0.21 a year ago, beating the consensus of $0.03.
Macy's expects 2024 sales of $22.3 billion—$22.5 billion, compared to prior guidance of $22.1 billion—$22.4 billion and a consensus of $22.42 billion. Macy's expects 2024 adjusted EPS of $2.25-$2.50 compared to prior guidance of $2.34-$2.69 and a consensus of $2.73, including accounting error.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Candel Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CADL#NASDAQ">CADL</a>) shares shot up 59% to $7.32 after the company announced results from its Phase 3 clinical trial evaluating CAN-2409 viral immunotherapy in localized prostate cancer patients.</li>
<li>Shares of AmpliTech Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMPG#NASDAQ">AMPG</a>) got a boost, surging 74% to $1.73 after the company announced the development and deployment of its proprietary low-noise cryogenic High Electron Mobility Transistor amplifiers.</li>
<li>SEALSQ Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAES#NASDAQ">LAES</a>) shares were also up, gaining 101% to $1.15.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Cellectar Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLRB#NASDAQ">CLRB</a>) shares dropped 76% to $0.30 after the company announced it is seeking strategic options for the Iopofosine I 131 late-stage clinical program. This will impact all departments and result in an immediate 60% headcount reduction.</li>
<li>Shares of Q32 Bio Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QTTB#NASDAQ">QTTB</a>) were down 73% to $6.60 after the company announced that while its SIGNAL-AD Phase 2a clinical trial in atopic dermatitis showed promising findings in Part A, it did not meet the primary endpoint in Part B.</li>
<li>TFF Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TFFP#NASDAQ">TFFP</a>) was down, falling 42% to $0.17.</li>
</ul>
Commodities In commodity news, oil traded up 2.1% to $70.00 while gold traded up 1.4% at $2,756.10.
Silver traded up 0.7% to $32.960 on Tuesday, while copper fell 0.3% to $4.2605.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 rose 0.28%, Germany's DAX rose 0.34% and France's CAC 40 gained 0.39%. Spain's IBEX 35 Index fell 1.47%, while London's FTSE 100 rose 0.26%.
Asia Pacific Markets
Asian markets closed mostly higher on Wednesday, with Japan's Nikkei 225 gaining 0.01%, Hong Kong's Hang Seng Index falling 0.77%, China's Shanghai Composite Index gaining 0.29% and India's BSE Sensex gaining 0.02%.
Economics
<ul>
<li>The Consumer Price Index rose by 2.7% year-over-year in November 2024, exceeding October's 2.6% reading and matching analyst estimates of 2.7%, according to TradingEconomics. This marks the second consecutive increase in annual inflation — a trend not seen since April.</li>
<li>On a monthly basis, the CPI jumped 0.3%, accelerating from October&#8217;s 0.2% gain and matching expectations of a 0.3% rise, official data released Wednesday showed.</li>
<li>U.S. crude inventories declined by 1.425 million barrels in the latest week, compared to market estimates of a 1.1 million-barrel decline.</li>
</ul>
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Crude Oil Jumps 2%; Macy's Lowers Earnings Forecast

Oppenheimer analyst Jeff Jones downgrades Cellectar Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLRB#NASDAQ">CLRB</a>) from Outperform to Perform.

Downgrades

Analyst Ratings

Oppenheimer Downgrades Cellectar Biosciences to Perform

On Tuesday, Cellectar Biosciences, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLRB#NASDAQ">CLRB</a>) unveiled a strategic update on its clinical development programs for its proprietary phospholipid ether drug conjugate platform, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/g42425748/cellectar-biosciences-provides-strategic-update-on-clinical-development-pipeline-programs-and-corp" rel="noreferrer noopener">which targets cancer.</a>
Due to recent communications with the FDA regarding a confirmatory study to support accelerated approval and the regulatory submission for iopofosine I 131, the company has decided to pursue strategic options for the further development and commercialization of this product candidate.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/07/39909352/cancer-focused-cellectar-biosciences-stock-trades-lower-despite-meeting-goal-in-blood-cancer-stud" rel="noreferrer noopener">Cancer-Focused Cellectar Biosciences Stock Trades Lower Despite Meeting Goal In Blood Cancer Study</a>
The CLOVER-WaM study was conducted in accordance with earlier FDA communications from an end-of-Phase 2 meeting and from a meeting in early 2024, during which the company was informed that positive results for major response rate (MRR) as the primary endpoint could be acceptable to support accelerated approval of iopofosine I 131 for Waldenstrom&#8217;s macroglobulinemia (WM).
Based on a recent Type-C meeting with the FDA, the company says that a submission seeking accelerated approval would need to be based on the MRR data from CLOVER-WaM and enrollment in a randomized, controlled confirmatory study&nbsp;that is&nbsp;designed to generate data on progression-free survival (PFS).
Cellectar will focus on those assets it believes have the highest therapeutic potential and opportunity for value creation.
As highlighted by recent acquisitions and collaborations within the radiopharmaceutical sector, precision isotopes like alpha- and Auger-emitters have emerged as the leading therapeutics of interest.
Consequently, the company will focus its resources on targeting solid tumors by advancing CLR 121225, its actinium-225-based program, and CLR 121125, its iodine-125 Auger-emitting program, into the clinic.
Cellectar expects to file Investigational New Drug applications in the first half of 2025 for both CLR-121225 and CLR-121125, which will allow the initiation of Phase 1 clinical studies in solid tumor cancers.
The company will reduce its headcount by approximately 60%, which should be complete by the end of the fourth quarter 2024. The company anticipates that the implementation of the restructuring will extend its cash runway into the third quarter of 2025.
Price Action: CLRB stock is down 73.40% at $0.34 at the last check on Wednesday.
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U.S. stocks traded mostly higher this morning, with the Nasdaq Composite gaining more than 1% on Wednesday.
Following the market opening Wednesday, the Dow traded up 0.02% to 44,257.30 while the NASDAQ rose 1.27% to 19,936.66. The S&amp;P 500 also rose, gaining, 0.64% to 6,073.33.
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Leading and Lagging Sectors Communication services shares jumped by 2.4% on Wednesday.
In trading on Wednesday, health care shares fell by 1.1%.
Top Headline
The Consumer Price Index rose by 2.7% year-over-year in November 2024, exceeding October's 2.6% reading and matching analyst estimates of 2.7%, according to TradingEconomics. This marks the second consecutive increase in annual inflation — a trend not seen since April.
On a monthly basis, the CPI jumped 0.3%, accelerating from October&#8217;s 0.2% gain and matching expectations of a 0.3% rise, official data released Wednesday showed.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Candel Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CADL#NASDAQ">CADL</a>) shares shot up 124% to $10.32 after the company announced results from its Phase 3 clinical trial evaluating CAN-2409 viral immunotherapy in localized prostate cancer patients.</li>
<li>Shares of AmpliTech Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMPG#NASDAQ">AMPG</a>) got a boost, surging 109% to $2.07 after the company announced the development and deployment of its proprietary low-noise cryogenic High Electron Mobility Transistor amplifiers.</li>
<li>SEALSQ Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAES#NASDAQ">LAES</a>) shares were also up, gaining 98% to $1.1400.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Cellectar Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLRB#NASDAQ">CLRB</a>) shares dropped 74% to $0.3356 after the company announced it is seeking strategic options for the Iopofosine I 131 late-stage clinical program. This will impact all departments and result in an immediate 60% headcount reduction.</li>
<li>Shares of Q32 Bio Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QTTB#NASDAQ">QTTB</a>) were down 68% to $7.91 after the company announced that while its SIGNAL-AD Phase 2a clinical trial in atopic dermatitis showed promising findings in Part A, it did not meet the primary endpoint in Part B.</li>
<li>TFF Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TFFP#NASDAQ">TFFP</a>) was down, falling 42% to $0.1758.</li>
</ul>
Commodities In commodity news, oil traded up 1.2% to $69.38 while gold traded up 1.3% at $2,753.20.
Silver traded up 1% to $33.075 on Tuesday, while copper fell 0.3% to $4.2615.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 rose 0.23%, Germany's DAX rose 0.17% and France's CAC 40 gained 0.31%. Spain's IBEX 35 Index fell 1.31%, while London's FTSE 100 rose 0.23%.
Asia Pacific Markets
Asian markets closed mostly higher on Wednesday, with Japan's Nikkei 225 gaining 0.01%, Hong Kong's Hang Seng Index falling 0.77%, China's Shanghai Composite Index gaining 0.29% and India's BSE Sensex gaining 0.02%.
Economics
<ul>
<li>The Consumer Price Index rose by 2.7% year-over-year in November 2024, exceeding October's 2.6% reading and matching analyst estimates of 2.7%, according to TradingEconomics. This marks the second consecutive increase in annual inflation — a trend not seen since April.</li>
<li>On a monthly basis, the CPI jumped 0.3%, accelerating from October&#8217;s 0.2% gain and matching expectations of a 0.3% rise, official data released Wednesday showed.</li>
<li>U.S. crude inventories declined by 1.425 million barrels in the latest week, compared to market estimates of a 1.1 million-barrel decline.</li>
</ul>
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/12/42437595/jim-cramer-says-keep-owning-this-energy-stock-abbott-laboratories-legal-stuff-is-behind-them">Jim Cramer Says &#8216;Keep Owning&#8217; This Energy Stock, Abbott Laboratories &#8216;Legal Stuff&#8217; Is Behind Them</a></li>
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WIIM

Cellectar Biosciences shares are trading lower after the company announced it's seeking strategic options for the Iopofosine I 131 late-stage clinical program. This will impact all departments and result in an immediate 60% headcount reduction.

Shares of Stitch Fix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFIX#NASDAQ">SFIX</a>) rose sharply in today's pre-market trading session after the company <a href="https://www.benzinga.com/quote/SFIX/earnings">reported better-than-expected first-quarter EPS and sales.</a>
Stitch Fix reported a quarterly loss of 5 cents per share which beat the analyst consensus estimate of a loss of 13 cents per share. The company reported quarterly sales of $318.80 million which beat the analyst consensus estimate of $306.93 million.
Stitch Fix shares jumped 21.3% to $5.58 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>SEALSQ Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAES#NASDAQ">LAES</a>) gained 134.6% to $1.34 in pre-market trading after jumping 46% on Tuesday.</li>
<li>Silexion Therapeutics Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLXN#NASDAQ">SLXN</a>) rose 60.2% to $4.36 in pre-market trading. Silexion Therapeutics named renowned cancer therapeutics expert Prof. Amnon Peled to Board of Directors.</li>
<li>Frequency Electronics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FEIM#NASDAQ">FEIM</a>) gained 48.6% to $19.00 in pre-market trading after the company reported a year-over-year increase in first-quarter financial results.</li>
<li>CleanCore Solutions, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZONE#NYSE">ZONE</a>) gained 42.2% to $1.82 in pre-market trading.</li>
<li>MIND Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MIND#NASDAQ">MIND</a>) gained 23.4% to $5.22 in pre-market trading after the company announced better-than-expected quarterly financial results.</li>
<li>Quantum Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QMCO#NASDAQ">QMCO</a>) gained 18.7% to $24.00 in pre-market trading after jumping 27% on Tuesday.</li>
<li>Biofrontera Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BFRI#NASDAQ">BFRI</a>) climbed 18.5% to $1.41 in pre-market trading.</li>
<li>SMX (Security Matters) Public Limited Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMX#NASDAQ">SMX</a>) rose 15.8% to $0.4070 in pre-market trading after falling 11% on Tuesday.</li>
<li>Rezolve AI Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RZLV#NASDAQ">RZLV</a>) gained 10.3% to $2.13 in pre-market trading.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Q32 Bio Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QTTB#NASDAQ">QTTB</a>) shares tumbled 67.6% to $7.87 in pre-market trading after the company announced that while its SIGNAL-AD Phase 2a clinical trial in atopic dermatitis showed promising findings in Part A, it did not meet the primary endpoint in Part B.</li>
<li>Cellectar Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLRB#NASDAQ">CLRB</a>) declined 50.7% to $0.6273 in pre-market trading after the company issued strategic update on clinical development, pipeline programs and corporate restructuring.</li>
<li>TFF Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TFFP#NASDAQ">TFFP</a>) shares fell 30.4% to $0.2098 in pre-market trading after gaining 6% on Monday.</li>
<li>American Lithium Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMLI#NASDAQ">AMLI</a>) shares fell 24.8% to $0.47 in pre-market trading after the company announced intention to voluntarily delist its common shares from Nasdaq Capital Market</li>
<li>60 Degrees Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SXTP#NASDAQ">SXTP</a>) dipped 23.1% to $1.50 in pre-market trading. 60 Degrees Pharmaceuticals shares are trading jumped around 34% on Tuesday amid a Form 4 filing stating the company chairman purchased 73,951 shares.</li>
<li>Processa Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCSA#NASDAQ">PCSA</a>) fell 21.8% to $1.04 in pre-market trading after gaining over 7% on Tuesday.</li>
<li>ImmunityBio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBRX#NASDAQ">IBRX</a>) shares dipped 19.2% to $3.75 in pre-market trading after the company proposed a public offering of common stock.</li>
<li>Falcon&#8217;s Beyond Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBYD#NASDAQ">FBYD</a>) fell 18.8% to $9.35 in pre-market trading after jumping over 45% on Tuesday.</li>
<li>Palmer Square Capital BDC Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSBD#NYSE">PSBD</a>) fell 18.1% to $13.00 in pre-market trading.</li>
<li>Dave &amp; Buster&#8217;s Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAY#NASDAQ">PLAY</a>) fell 15.8% to $30.96 in today's pre-market trading after the company reported worse-than-expected third-quarter EPS and sales results on Tuesday. The company also announced that CEO Chris Morris handed in his resignation to pursue other interests. The board said it has been working with a global executive search firm in recent months to assist in identifying the company&#8217;s next permanent CEO.</li>
</ul>
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Why Stitch Fix Shares Are Trading Higher By Around 21%; Here Are 20 Stocks Moving Premarket

Trading Halt: Halt status updated at 5:25:00 PM ET: Quotation Resumption: News and Resumption Times

Cellectar expects to file Investigational New Drug applications in the first half of 2025 for both CLR-121225 and CLR-121125.
The Company anticipates that the implementation of the restructuring will extend its cash runway into the third quarter of 2025.
It plans focusing on advancing radiotherapeutic assets including alpha- and Auger-emitting radioconjugates into Phase 1 solid tumor studies.
 &nbsp;
&nbsp;

Cellectar Biosciences Expects Strategic Reprioritization To Impact All Departments And Result In An Immediate Reduction In Headcount Of 60%

Due to recent communications with the FDA regarding a confirmatory study to support accelerated approval and the regulatory submission for iopofosine I 131, the Company has decided to pursue strategic options for the further development and commercialization of this product candidate.&nbsp;
Based upon a recent Type-C meeting with the FDA, the Company now believes that a submission seeking accelerated approval would need to be based on the MRR data from CLOVER-WaM and enrollment in a randomized, controlled confirmatory study that is designed to generate data on progression-free survival (PFS).

Cellectar Biosciences Seeks Strategic Options For Iopofosine I 131 Late-stage Clinical Program

Trading Halt: Halted at 4:55:00 p.m. ET - Trading Halt: Halt News Pending

<ul>
<li>NorthStar to provide non-carrier added actinium-225 (n.c.a Ac-225) to Cellectar for use in its expanded portfolio of clinical programs</li>
<li>This includes CLR 121225 an actinium-labeled phospholipid ether (PLE), expected to enter a Phase 1 study in pancreatic cancer in 2025</li>
</ul>
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.northstarnm.com%2F&amp;esheet=54155917&amp;newsitemid=20241121427542&amp;lan=en-US&amp;anchor=NorthStar+Medical+Radioisotopes&amp;index=1&amp;md5=5a1fd3be2cf7ae6d015ae0bac09519f4">NorthStar Medical Radioisotopes</a>, LLC today announced the signing of a strategic Master Supply Agreement with Cellectar Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLRB#NASDAQ">CLRB</a>) under which Cellectar will acquire and integrate NorthStar's n.c.a. Ac-225 into Cellectar's proprietary Phospholipid Ethers (PLE) delivery platform to expand the platform's capability to produce a diverse range of radiotherapeutic molecules.
NorthStar is a global innovator in the development, production, and commercialization of radiopharmaceuticals used for therapeutic applications and medical imaging. Cellectar Biosciences is a late-stage clinical biopharmaceutical company focused on the discovery, development and commercialization of drugs for the treatment of cancer.

Contracts

NorthStar Medical Radioisotopes Announces The Signing Of A Strategic Master Supply Agreement With Cellectar Biosciences, Under Which Cellectar Will Acquire And Integrate Northstar's n.c.a. Ac-225 Into Cellectar's Proprietary Phospholipid Ethers Delivery Platform To Expand The Platform's Capability To Produce A Diverse Range Of Radiotherapeutic Molecules

Oppenheimer analyst Jeff Jones maintains Cellectar Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLRB#NASDAQ">CLRB</a>) with a Outperform and lowers the price target from $14 to $12.

Price Target

Oppenheimer Maintains Outperform on Cellectar Biosciences, Lowers Price Target to $12

Guidance

Cellectar Biosciences' Q3 Cash And Cash Equivalents Of $34.3M Is Expected To Provide Cash Runway Into Q2 2025

Cellectar Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLRB#NASDAQ">CLRB</a>) reported quarterly losses of $(0.40) per share which missed the analyst consensus estimate of $(0.37) by 8.11 percent.

Cellectar Biosciences Q3 2024 GAAP EPS $(0.40) Misses $(0.37) Estimate

<h3>Companies Reporting Before The Bell</h3>
• Niu Techs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIU#NASDAQ">NIU</a>) is expected to report earnings for its third quarter. 
• Bit Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTBT#NASDAQ">BTBT</a>) is estimated to report quarterly loss at $0.02 per share on revenue of $22.91 million. 
• Twist Bioscience (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWST#NASDAQ">TWST</a>) is likely to report quarterly loss at $0.69 per share on revenue of $82.66 million. 
• Mondee Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOND#NASDAQ">MOND</a>) is likely to report quarterly loss at $0.10 per share on revenue of $54.49 million. 
• Brady (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRC#NYSE">BRC</a>) is projected to report quarterly earnings at $1.10 per share on revenue of $365.85 million. 
• Bitdeer Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTDR#NASDAQ">BTDR</a>) is expected to report quarterly loss at $0.05 per share on revenue of $77.45 million. 
• Cellectar Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLRB#NASDAQ">CLRB</a>) is likely to report earnings for its third quarter. 
• Kandi Technologies Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KNDI#NASDAQ">KNDI</a>) is estimated to report earnings for its third quarter. 
• EHang Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EH#NASDAQ">EH</a>) is likely to report quarterly loss at $0.12 per share on revenue of $16.30 million. 
• C3is (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CISS#NASDAQ">CISS</a>) is projected to report earnings for its third quarter. 
<h3>Companies Reporting After The Bell</h3>
• Trip.com Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCOM#NASDAQ">TCOM</a>) is likely to report quarterly earnings at $0.91 per share on revenue of $2.20 billion. 
• Tuya (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TUYA#NYSE">TUYA</a>) is projected to report quarterly earnings at $0.03 per share on revenue of $75.49 million. 
• BellRing Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRBR#NYSE">BRBR</a>) is estimated to report quarterly earnings at $0.50 per share on revenue of $545.01 million. 
• i3 Verticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IIIV#NASDAQ">IIIV</a>) is projected to report quarterly earnings at $0.19 per share on revenue of $61.55 million. 
• AECOM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACM#NYSE">ACM</a>) is likely to report quarterly earnings at $1.25 per share on revenue of $4.12 billion. 
• Symbotic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) is projected to report quarterly earnings at $0.06 per share on revenue of $470.27 million. 
• Zenvia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZENV#NASDAQ">ZENV</a>) is estimated to report earnings for its third quarter. 
• TAT Techs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TATT#NASDAQ">TATT</a>) is likely to report earnings for its third quarter. 
• FinVolution Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FINV#NYSE">FINV</a>) is estimated to report earnings for its third quarter. 
• Zepp Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZEPP#NYSE">ZEPP</a>) is estimated to report earnings for its third quarter. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

BRBR

BTBT

BTDR

CISS

FINV

IIIV

KNDI

MOND

TATT

TCOM

TUYA

TWST

ZENV

ZEPP

Earnings Scheduled For November 18, 2024

Cellectar Biosciences Signs Supply Agreement With NorthStar Medical Radioisotopes; NorthStar To Provide Co. With Non-Carrier Added Ac-225 For Its Clinical Programs

<a href="https://www.globenewswire.com/Tracker?data=sWiYCqh2uCQMJWzqp6DwsdmQh3T4XTg8U-EKXY44n4hZiPT9dDAL2XxpEGQuQ0_FLftN717tZtO31l7Vu9ABlg==">SpectronRx,</a>&nbsp;a leading radiopharmaceutical contract developer and manufacturer, and <a href="https://www.globenewswire.com/Tracker?data=vf-DqZeYBelFzXaBVMAW0zNzKNSEr5kVaMsaca_-3bQ_x24bx0xUhAaFSEZk7GfZQBG6R463oTmmB2-PVadf2n3jqJSFu3yMiwiBy5adA8eByjtpC0MvAD8joOcqYop4">Cellectar Biosciences, Inc. (NASDAQ:</a><a href="https://www.benzinga.com/stock/CLRB#NASDAQ">CLRB</a>), a late-stage clinical biopharmaceutical company focused on the discovery, development and commercialization of drugs for the treatment of cancer, have signed a commercial supply agreement for the manufacture of Cellectar's first-in-class cancer therapy, iopofosine I 131.

Cellectar Biosciences And SpectronRx Have Signed A Commercial Supply Agreement For The Manufacture Of Cellectar's First-In-Class Cancer Therapy, Iopofosine I 131

Cellectar Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLRB#NASDAQ">CLRB</a>), a late-stage clinical biopharmaceutical company, announced today it received a letter dated October 31, 2024, from Nasdaq, Inc. informing the Company that it had regained compliance with Nasdaq Listing Rule 5250(c)(1). The Company filed the following on October&nbsp;29, 2024, with the Securities and Exchange Commission: (i) restated audited consolidated financial statements for the fiscal years ended December&nbsp;31, 2023 and 2022 and restated quarterly financial statements for the periods ended March&nbsp;31, 2023; June&nbsp;30, 2023; September&nbsp;30, 2023; March&nbsp;31, 2022, June&nbsp;30, 2022, and September&nbsp;30, 2022 on Form 10-K/A; (ii) restated quarterly consolidated financial statements for the three months ended March&nbsp;31, 2024 on Form 10-Q/A; and (iii) quarterly financial statements for the three and six months ended June&nbsp;30, 2024 on Form 10-Q. The letter from Nasdaq noted that the matter is now closed.

Cellectar Biosciences Received A Letter From Nasdaq Informing The Company That It Had Regained Compliance With Nasdaq Listing Rule 5250(c)(1)

Press Releases

Cellectar Biosciences Announces Compliance Regarding Filing of Form 10-Q

Cellectar Selected to Present New Data from Phase 2 CLOVER-WaM Study in Oral Session at ASH 2024

Cellectar Biosciences to Report Third Quarter Financial Results and Host a Conference Call on Monday, November 18, 2024

Cellectar Biosciences and SpectronRx Partner to Manufacture Novel Phospholipid Radioconjugate for the Treatment of Cancer

Cellectar Biosciences and NorthStar Medical Radioisotopes Announce Partnership for Supply of Actinium-225

Cellectar Biosciences Reports Financial Results for Q3 2024 and Provides a Corporate Update

NorthStar Medical Radioisotopes Executes Supply Agreement With Cellectar Biosciences for Therapeutic Radioisotope Actinium-225 (Ac-225)

Cellectar Biosciences Provides Strategic Update on Clinical Development, Pipeline Programs and Corporate Restructuring

Cellectar Biosciences to Highlight 2025 Strategic Initiatives at Upcoming Biotech Showcase during the JP Morgan Healthcare Conference

Cellectar Biosciences to Present at the Oppenheimer 35th Annual Healthcare Life Sciences Conference

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