Roth says FDA decision can help Cellectar partner, sell iopofosine I 131

Roth Capital notes the food and drug administration granted Breakthrough Therapy Designation to Cellectar Biosciences (CLRB)’ lead asset iopofosine I 131 to treat rel/ref Waldenstrom macroglobulinemia, which emphasizes the drug’s safety and potency in an indication with very few alternatives and no current FDA approvals. The company also submitted a data package to the EMA to ascertain its chances of filing for conditional approval in the EU. The firm believes that Breakthrough Designation can only facilitate Cellectar’s ongoing effort to partner or sell iopofosine I 131, an asset Roth views as low risk for any suitor. The firm has a Buy rating on Cellectar with a price target of $3.