February 23, 2024

24/7 Market News Snapshot 08 Jan, 2024- Cellectar Biosciences Inc. (NYSE: CLRB)

Press Release

Last Price: $0.00 ▼ -0.30% -0.01  (2024-02-23 16:00) (Market Closed)

DENVER, Colo., 08 Jan, 2024 (www.247marketnews.com) – FOR IMMEDIATE RELEASE

Cellectar Biosciences, Inc. Experiences Remarkable Surge in Share Value Amidst Breakthrough Clinical Study

FLORHAM PARK, N.J. — January 08, 2024 — In an extraordinary display of investor confidence, Cellectar Biosciences, Inc. (NASDAQ:CLRB) announced a significant ascent in its stock prices, closing at an impressive $3.2392 per share. A striking 19.53% climb was recorded due to an exceptional trading volume of over 12 million shares, highlighting the market’s optimistic response to the company’s latest achievements.

This surge is attributed to the release of persuasive data from Cellectar’s CLOVER WaM study, featuring the company’s pioneering targeted radiotherapy iopofosine I 131 for the treatment of Waldenstrom’s macroglobulinemia (WM). The study focuses on patients with the most challenging forms of the disease, who have relapsed or are refractory after extensive prior treatment, including Bruton tyrosine kinase inhibitors (BTKi).

President and CEO of Cellectar Biosciences, James Caruso, remarks, “This is a transformative moment in the treatment of WM. The data not only underscore the potential of iopofosine I 131 as a groundbreaking therapy but also reinforce Cellectar’s dedication to enhancing patient outcomes where current options are limited.”

iopofosine I 131 is poised to revolutionize the treatment paradigm for WM, offering a novel approach by selectively targeting malignant B-cells and sparing healthy tissue. This targeted therapy embodies the company’s commitment to advancing cancer care and bringing new hope to patients.

As the market valuation of Cellectar Biosciences soars, the medical community and investors alike watch with bated breath, anticipating the potential approval and widespread clinical use of this innovative therapy. Cellectar remains engaged in talks with regulatory bodies to chart the course towards making iopofosine I 131 accessible to patients in dire need.

About Cellectar Biosciences, Inc.
Cellectar Biosciences is a clinical-stage biopharmaceutical company with a focus on oncology. Its mission is to discover, develop, and commercialize breakthrough drugs for the treatment of cancer. For more information, please visit www.cellectar.com.

Investor Relations Contact:
Cellectar Biosciences, Inc.
[email protected]

Forward-Looking Statements Disclaimer:
This press release includes forward-looking statements, which are based on current expectations and projections about future events. Such statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied. Cellectar Biosciences does not undertake any duty to update these forward-looking statements after the date of release.

Source: Cellectar Biosciences, Inc.
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Cautionary Statement Regarding Forward Looking Information
Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

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