Cellectar Biosciences Inc. (NASDAQ: CLRB) stock declined by 4.60% in the last trading close while the CLRB stock rises by 4.22% in the pre-market trading session. As of now, there is no latest news available regarding the rise of CLRB stock in pre-market. Cellectar Biosciences is a biopharmaceutical company with its focus on developing and commercializing drugs specifically for the treatment of cancer.
Recent Developments
On March 9, 2021, CLRB announced that the Japan patent office has issued Cellectar Biosciences with patent number 6832861 which is titled as “Phospholipid-Ether Analogs as Cancer-Targeting Drug Vehicles”. The patent protects CLRB’s exclusive phospholipid-ether (PLE) which works as delivery vehicle analogs in association with a wide variety of widely used chemotherapeutic groups such as alkaloids, nucleoside analogs, and other small molecule chemotherapeutic agents.
Also, Cellectar Biosciences was supposed to participate in two recent conferences in March 2021.
- On March 16, CLRB was happened to present at Oppenheimer 31st Annual Healthcare Conference.
- And from March 17-19 CLRB participated in Maxim Group 2021 Emerging Growth Virtual Conference.
Financial Results for the year 2020
Recently On March 2, 2021 CLBR announced its financial results for the year 2020. The summary of financial results is given below:
- The cash and cash equivalents generated by CLRB for the year 2020 was $57.2 million compared to $10.6 million for the year 2019.
- Cellectar Biosciences has recorded its Research and Development as &10.1 million for the year ended December 31, 2021. While the R&D expense for the year 2020 was $9.0 million. The increase in Research and Development expense is approximately 13% compared to the previous year.
- The net loss that is attributable to common stockholders was $15.1 million for the year 2020 compared to $ 14.1 for the previous year.
- CLBR has reported the General and administrative expense as $5.1 million for the year ended on December 31, 2020 comparatively the values were a bit high in the year 2019 as $5.2 million.
