Cellectar Biosciences Inc (NASDAQ: CLRB) is having an incredibly strong start to the day today in the pre-market hours, and the gains are happening for good reason. The company announced new data, suggesting enhanced outcomes due to the company’s PDC platform. Of course, this led to excitement among investors who are sending the stock toward the top. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:11), CLRB is trading at $1.67 per share after a gain of $0.14 per share (9.15%) thus far today.
CLRB Gains On New Data
As mentioned above, Cellectar Biosciences is having an incredibly strong start to the trading session in the pre-market hours this morning after the company announced new data. The data suggests that the company’s PDC platform, in combination with a non-reactive iodine (I-127) or CLR 127, decreased tumor volumes and markedly delayed tumor regrowth in preclinical in vitro and in vivo animal studies. The studies focused on both pediatric and adult cancers. The data show that CLR 127 was taken up and retained in the tumor cells at a level that was 6-to-10 times higher than the level in normal tissue. Also, the treatment sensitized the tumor cells to external radiation.
The data mentioned above was presented by University of Wisconsin Investigator Dr. Mario Otto. This data was presented during a poster presentation at the International Conference on Molecular Targets and Cancer Therapeutics, which was held by the American Association for Cancer Research, National Cancer Institute, and European Organisation for Research and Treatment of Cancer. The poster presentation was titled “The Phospholipid Ether Analog CLR 127 Delays Radiation-Induced dsDNA Damage Repair in Pediatric and Adult Solid Tumors” and was presented on Saturday, October 28th.
During the CLRB preclinical trial, Dr. Otto, along with his fellow investigators, treated adult and pediatric cancer cells and in vivoxenograft-bearing mice. The treatment included CLR 127, which was then followed by external radiation. According to the results, the effect of the radiation was meaningfully increased with CLR 127 when compared to external radiation alone. Also, with CLR 127, external radiation persisted at higher levels for up to 24 hours post-administration. Finally, it was announced that CLR 127 appears to inhibit DNA repair function that typically occurs in the tumor cells following a radiation treatment. In a statement, Jim Caruso, President and CEO at CLRB, had the following to offer:
“The data presented by Dr. Otto and his team provide external confirmation of Cellectar’s PDC tumor targeting capabilities and retention in the tumor cells that may improve clinical outcomes… This study reports important additional data regarding the potential benefits of combining our PDC platform with external beam radiation for the treatment of both adults and pediatric cancers.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on CLRB. In particular, we’re interested in following the ongoing work surrounding CLR 127, CLR 131, and the rest of the company’s robust oncology-focused pipeline. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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