Analyst Summary:
Cellectar Biosciences, a biopharmaceutical company focused on targeted treatments for cancer, reported positive outcomes across multiple indications and financial results for the year ended December 31, 2022. The company announced a 50% response rate achieved by iopofosine in post-BCMA multiple myeloma patients and a $2 million NCI grant to initiate a phase 1b for High Grade Gliomas. Cellectar also reported the extraordinary complete response in a patient with relapsed/refractory CNS lymphoma further demonstrating iopofosine’s ability to cross the blood/brain barrier and target cancer. The company currently has 43 global sites actively recruiting patients for a pivotal study in Waldenstrom’s macroglobulinemia. The company's product pipeline includes iopofosine, proprietary preclinical PDC chemotherapeutic programs, and multiple partnered PDC assets. Cellectar is focused on developing PDCs independently and through research and development collaborations.