UPDATE -- Cellectar Biosciences Announces Recent Key Accomplishments And Third Quarter 2016 Financial Results

MADISON, Wisc., Nov. 11, 2016 (GLOBE NEWSWIRE) -- Cellectar Biosciences, Inc. (Nasdaq:CLRB) (the "company"), an oncology-focused, clinical stage biotechnology company, today announces key accomplishments and its financial results for the third quarter of 2016, which ended September 30, 2016.

Corporate highlights for the quarter include:
  • Announcement that an 18.75 mCi/m 2 single-dose infusion of CLR 131 achieved efficacy data that was equivalent or superior to drugs recently approved for relapsed/refractory (R/R) multiple myeloma (MM) from Cohort 2 of our Phase I study of CLR 131 for relapsed/refractory multiple myeloma
  • Completion of Cohort 2 and announcement of a positive adverse event (AE) profile; no observed neuropathies, cardiotoxicities, deep vein thrombosis or gastrointestinal AEs to date
  • Advancement and initiation of Cohort 3 in Phase I study of CLR 131 in R/R MM at 25mCi/m 2 single-dose infusion
  • Awarded non-dilutive NCI - Fast Track SBIR Grant of $2M to support Phase II study of CLR 131 in multiple myeloma and other selected orphan-designated hematologic malignancies
  • Selection of CLR 131 for non-dilutive research & development to be studied in combination with external beam radiation for head and neck cancers as part of a $12M NCI SPORE Grant awarded to the University of Wisconsin
  • USPTO granted Patent Allowance for CLR 1603 covering method of use in key solid tumors: breast, prostate, lung, pancreatic and colorectal
  • Appointment of Jarrod Longcor as senior vice president, Corporate Development and Operations

"We continue to effectively operate the company and achieve significant clinical development progress with CLR 131 as demonstrated by impressive Cohort 2 data and advancement to the third cohort of our Phase I clinical trial for multiple myeloma. In addition, we plan to initiate our NCI supported Phase II clinical trial in multiple myeloma and selected hematologic malignancies in the first quarter of 2017," said Jim Caruso, president and CEO of Cellectar Biosciences.  "We remain focused on closing 2016 strong and communicating near-term, meaningful milestones that further demonstrate the clinical and financial value of our patented PDC delivery platform."

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