tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Cellectar Biosciences Plans Phase 1 Cancer Studies

Story Highlights
Cellectar Biosciences Plans Phase 1 Cancer Studies

Elevate Your Investing Strategy:

The latest update is out from Cellectar Biosciences ( (CLRB) ).

Cellectar Biosciences announced updates on their investigational cancer treatments, CLR 125 and CLR 225, which have shown promising preclinical results in targeting solid tumors. The company plans to initiate Phase 1 studies for both compounds in 2025, contingent on securing additional financing, with CLR 125 focusing on triple-negative breast cancer and CLR 225 on pancreatic cancer. Previous studies with iopofosine, a related compound, have demonstrated significant efficacy in treating refractory cancers, including a major response rate in a study for Waldenström macroglobulinemia. These developments highlight Cellectar’s potential impact on cancer treatment, offering new hope for patients with limited options.

The most recent analyst rating on (CLRB) stock is a Buy with a $7.00 price target. To see the full list of analyst forecasts on Cellectar Biosciences stock, see the CLRB Stock Forecast page.

Spark’s Take on CLRB Stock

According to Spark, TipRanks’ AI Analyst, CLRB is a Underperform.

Cellectar Biosciences faces significant financial challenges with no revenue generation and heavy reliance on external financing. Technical indicators suggest a bearish trend, and the company’s valuation is weakened by negative earnings. Although the earnings call highlighted some clinical and regulatory progress, these are overshadowed by financial and operational setbacks, leading to a below-average overall stock score.

To see Spark’s full report on CLRB stock, click here.

More about Cellectar Biosciences

Cellectar Biosciences operates in the biopharmaceutical industry, focusing on the development of targeted therapies for cancer treatment. The company utilizes its proprietary phospholipid ether drug conjugate platform to create precision radiotherapeutics, such as CLR 125 and CLR 225, aimed at treating various solid tumors.

Average Trading Volume: 414,217

Technical Sentiment Signal: Strong Sell

Current Market Cap: $14.39M

For a thorough assessment of CLRB stock, go to TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1