Stocks to invest in – Cellectar Biosciences Inc (CLRB) Is Oversold And Ready To Bounce Higher

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Cellectar Biosciences Inc (NASDAQ:CLRB) is an oncology-focused company based in Madison, Wisconsin. Since the beginning of the year, CLRB is trading down significantly from its 52-week high of $18.00 per share, closing at $1.77 during Thursday’s trading session. However, investors appear to have liked what they heard during the earnings release call on 11/10/16, with the stock gapping higher on the open to $1.90.

Friday’s early morning trading also led to a break higher on the RSI, moving the indicator from a reading of 26 up through the 40 level, indicating a potential breakout to the upside. Although volume remains light as investors enter the holiday weekend, CLRB appears poised to move higher off of its most recent data release.


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Introducing CLRB

CLRB is an oncology company focused on developing therapeutic products to target a broad range of cancers with their proprietary Phospholipid Drug Conjugate Delivery Platform (PDC). The PDC platform works in combination with its Phospholipid Ether cancer-targeting vehicles, which enable the technology to deliver a diverse oncologic payload to cancer cells. With this targeted approach, PDC can deliver an increased payload of cancer fighting compounds to deliver greater therapeutic effect.

The PDC has been validated through peer reviewed publications and has demonstrated proof of concept in a broad range of cancer treatment through their clinical research.

Cellectar Biosciences Inc (NASDAQ:CLRB) is focusing on unlocking the value in PDC through collaborations and partnerships that can advance their CLR-131 franchise by developing early stage chemotherapeutic conjugates and to expand the PDC pipeline. CLRB has an extensive intellectual property portfolio and has remained focused on conservative management of their financial resources. PDC is providing proof of concept in both in-vitro and in-vivo delivery, demonstrating efficacy in treating a broad range of cancers. To date, CLRB has treated over 100 patients for over ten different cancer indications.

Proof Of Concept Data

During these trials, intended to demonstrate both therapeutic and proof of concept value, the PDC has delivered encouraging results. The small molecule PDC approach for cancer-targeting offers significant advances to treating the disease, inclusive of increasing a targeted therapeutic payload, the ability to overcome resistance to treatment, offer additional linking mechanisms and the benefit of lower cost and less complex manufacturing processes.

Specific to CLRB’s CLR-131 study, the PDC radiotherapeutic overview demonstrated the platform’s novel mechanism of action and produced early signs of efficacy during its maximum dosage phase I trial for myeloma. Additionally, there was considerable improvement between cohort one and cohort two, where the progression free survival rate increased by 30%, with the average number of adverse effects decreasing. The results were strong enough for the company to progress toward a planned phase II clinical trial to advance the treatment of relapse/refractory multiple myeloma.

Immediate clinical development plans for CLR-131 include applying for Orphan designations, expand focus toward niche markets and unmet medical need designations and to secure non-dilutive funding to expand the CLR-131 program.

In both August and September, CLRB received non-dilutive funding in the form of grants and contract awards totaling $14 million dollars. Two million dollars was awarded from the National Cancer Institute SBIR and an additional $12 million from the University of Wisconsin. These grants demonstrate the significance and relevance of the PDC platform and of the potential of the CLR-131 program.

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