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Cellectar Shares Climb After Strong Trial Response For Rare Blood Cancer Drug

Shanthi Rexaline

Cellectar Biosciences Inc (NASDAQ: CLRB) shares are pushing northward on over five times their average volume after the company reported positive results from an ongoing midstage trial.

Cellectar shares were advancing more than 20 percent to $9 at the time of publication Tuesday.

What Happened

Cellectar Biosciences announced a patient treated in the lymphoplasmacytic lymphoma, or LPL, arm, with advanced Waldenstrom macroglobulinema showed a 94-percent reduction in tumor burden and complete resolution in four of the five targeted tumor masses. 

The results were from a Phase 2 trial for CLR 131, its pipeline candidate for hematologic cancer.

The patient in a question, a 67-year-old female, received two lines of multidrug therapy, prior to receiving two 25mCi/square meter doses of CLR 131 over a 30-minute infusion period, according to Cellectar. 

Why It's Important

In addition to the robust clinical response, CLR 131 also resolved symptoms shortly after the first dose that affected the quality of life, such as shortness of breath associated with moderately sized pleural effusion, the company said.

"CLR 131 has shown good clinical response in LPL as well as other hematologic indications and could provide an excellent addition to the treatment armamentarium," treating physician Sikander Ailawadhi of the Mayo Clinic in Jacksonville, Florida said in a statement. 

What's Next

About 80 participants are expected to be enrolled in the open-lablel, multicenter midstage trial. The study is slated for completion in March 2019, according to Clinicaltrials.gov data.

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