Cellectar Biosciences Inc (NASDAQ: CLRB) isn’t having the best of days in the market today. However, if you take a look at the way the stock flew yesterday, you wouldn’t be very concerned. That’s because the company released data with regard to the fact that it has generated numerous PDC molecules that show incredible pharmacologic activity. At the moment (9:29), CLRB is trading at $1.77 per share after a loss of $0.02 per share or 1.26%. However, these declines likely represent a strong opportunity in the market.
CLRB Announces News With Regard To PDC Molecules
As mentioned above, Cellectar Biosciences had a strong day in the market yesterday after announcing that it has generated numerous PDC molecules that show significant improved pharmacologic activity when compared to payload molecules alone.
The new compounds that CLRB has formulated are specifically designed for improved tumor targeting and fewer off-target adverse effects. According to the PR the company releaseed yesterday, the phospholipid ether molecules provide a greater than 20-fold increase in delivery of PDC to cancerous cells on average. In a statement, Jim Caruso, President and CEO of Cellectar Biosciences, had the following to offer…
“The rapid advancement and positive data from these research programs, coupled with our ongoing collaborations, further validate the unique capabilities and broad utility of our PDC platform… We continue to drive our key internal programs in a strategic and cost-efficient manner including the advancement of candidate molecules from these new compound series. The company anticipates sharing additional technical details of this work either in peer reviewed journal articles or at a future oncology conference.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on CLRB. In particular, we’ll be keeping a close eye on their ongoing work surrounding their PDC platform as the more news that comes out, the more exciting the prospects become. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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