Stock Update (NASDAQ:CLRB): Cellectar Biosciences Inc Announces Two Peer Reviewed Studies Demonstrating the Capabilities of the PDC Platform


Cellectar Biosciences Inc (NASDAQ:CLRB) announces the advance online publication of an article in Nature Reviews Clinical Oncology.  In addition, the company anticipates an oral presentation on its drug delivery platform at the Academic Surgical Congress on February 8, 2017, at the Encore Hotel, Las Vegas.  Each publication increases our understanding regarding the unique tumor targeting ability of the company’s phospholipid drug conjugates (PDCs) with fluorescent payloads.

The Nature Reviews Clinical Oncology article, titled, “Beyond the Margins: Real-Time Detection of Cancer Using Targeted Fluorophores,” evaluates the current use of fluorescent molecules in cancer diagnostics and fluorescence-guided surgical resection of tumors.  It focuses on the need for the use of targeted delivery of fluorescent molecules to malignant tissue.  Specifically, it highlights near-infrared fluorescent molecules such as CLR 1502 in order to provide clear margins between healthy tissue and tumor tissue, thereby potentially improving patient outcomes post-surgical resection.

During the Academic Surgical Conference, John S. Kuo, M.D., Ph.D., associate professor, Neurosurgery, University of Wisconsin-Madison School of Medicine and Public Health, will discuss abstract #ASC20171140 titled “Effects of Intralipid on Serum Partitioning of Cancer-targeting Alkylphosphocholine Analogs.” The presentation will take place during the “Basic Science: Oncology 1 Quickshot” session at 2:30 PM PT in the Encore Hotel’s Beethoven Room 1. Dr. Kou’s presentation will demonstrate how changes in plasma lipid concentrations can alter the protein binding of PDC molecules and potentially result in more rapid and increased delivery of PDCs like CLR 1501 and CLR 1502 to malignant tissue.

“The peer reviewed data in these two reports contribute to our understanding of the PDC delivery platform; particularly, the potential clinical utility of our imaging assets,” said Jim Caruso, president and CEO of Cellectar Biosciences.  “These two prestigious venues provide additional validation of the unique potential and varied utility of our platform.”

Shares of Cellectar Biosciences closed yesterday at $1.58, down $0.07 or -4.24%. CLRB has a 1-year high of $7.40 and a 1-year low of $1. The stock’s 50-day moving average is $1.32 and its 200-day moving average is $2.08.

On the ratings front, Ladenburg Thalmann analyst Wangzhi Li initiated coverage with a Buy rating on CLRB and a price target of $2.70, in a report issued on December 21. The current price target represents a potential upside of 71% from where the stock is currently trading. According to TipRanks.com, Li has a yearly average loss of 19.6%, a 20% success rate, and is ranked #3893 out of 4370 analysts.

Cellectar BioSciences, Inc. operates as a biopharmaceutical company. It engages developing phospholipid drug conjugates designed to provide cancer targeted delivery of oncologic payloads to cancer stem cells. The company was founded on April 11, 2011 and is headquartered in Madison, WI.

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