|Bid||1.4000 x 4000|
|Ask||1.4000 x 1200|
|Day's Range||1.3800 - 1.4200|
|52 Week Range||1.0100 - 3.3300|
|Beta (5Y Monthly)||1.73|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 10, 2020 - Aug 14, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||5.57|
Data highlight results from the Phase 1 study of CLR 131 in children and adolescents with relapsed/refractory malignanciesFLORHAM PARK, N.J., Aug. 04, 2020 (GLOBE NEWSWIRE) -- Cellectar Biosciences, Inc. (NASDAQ: CLRB), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of drugs for the treatment of cancer, today announced a poster presentation at the upcoming rescheduled International Symposium on Pediatric Neuro-Oncology (ISPNO) annual meeting taking place December 13-16 in Karuizawa, Japan. One of the study investigators, Dr. Diane Puccetti, a faculty member of the University of Wisconsin School of Medicine and Public Health and Medical Director of the American Family Children’s Hospital will present the poster, entitled: “CLR 131 in patients with relapsed or refractory pediatric malignancies,” which highlights Phase 1 study data including subjects with various brain tumors.The Phase 1 study (NCT03478462) is an open-label dose escalation study of CLR 131 in children and adolescents with relapsed or refractory cancers, including malignant brain tumors, neuroblastoma, rhabdomyosarcoma, Ewing’s sarcoma, osteosarcoma and lymphomas (including Hodgkin’s lymphoma). Patients in the study have received infusions of CLR 131 in escalating dose levels. To date, all doses have been deemed safe and tolerated by the independent Data Monitoring Committee, including the 60mCi/m2 dose level.A copy of the presentation materials can be accessed on the Events and Presentations section of the Cellectar website once the presentation concludes.About CLR 131 CLR 131 is a small-molecule Phospholipid Drug Conjugate™ designed to provide targeted delivery of iodine-131 (radioisotope) directly to cancer cells, while limiting exposure to healthy cells unlike many traditional on-market treatment options. CLR 131 is the company’s lead product candidate and is currently being evaluated in a Phase 2 study in B-cell lymphomas, and a Phase 1 dose-escalating clinical study in pediatric solid tumors and lymphomas. The company recently completed a Phase 1 dose-escalation clinical study in relapsed/refractory (r/r) multiple myeloma. The FDA granted CLR 131 Fast Track Designation for both r/r multiple myeloma and r/r diffuse large b-cell lymphoma and Orphan Drug Designation (ODD) for the treatment of multiple myeloma, lymphoplasmacytic lymphoma/Waldenstrom’s macroglobulinemia, neuroblastoma, rhabdomyosarcoma, Ewing’s sarcoma and osteosarcoma. CLR 131 was also granted Rare Pediatric Disease Designations for the treatment of neuroblastoma, rhabdomyosarcoma, Ewing’s sarcoma and osteosarcoma. Most recently, the European Commission granted an ODD for r/r multiple myeloma.About Cellectar Biosciences, Inc. Cellectar Biosciences is focused on the discovery, development and commercialization of drugs for the treatment of cancer. The company is developing proprietary drugs independently and through research and development collaborations. The company’s core objective is to leverage its proprietary Phospholipid Drug Conjugate™ (PDC) delivery platform to develop PDCs that specifically target cancer cells, delivering improved efficacy and better safety as a result of fewer off-target effects. The company’s PDC platform possesses the potential for the discovery and development of the next-generation of cancer-targeting treatments, and it plans to develop PDCs independently and through research and development collaborations.The company’s lead PDC therapeutic, CLR 131, is currently in two clinical studies. The CLOVER-1 Phase 2 study completed the Part A dose-exploration portion, conducted in relapsed/refractory (r/r) B-cell malignancies, and is now enrolling in the Part B expansion cohorts evaluating a two cycle dosing regimen that provides approximately 100mCi total body dose of CLR 131 in relapsed/refractory (r/r) multiple myeloma (MM) and lymphoplasmacytic lymphoma/Waldenstrom’s macroglobulinemia (LPL/WM). The data from the Part A portion was announced on February 19, 2020.The Phase 1 pediatric study will be an open-label, sequential-group, dose-escalation study to evaluate the safety and tolerability of CLR 131 in children and adolescents with relapsed or refractory cancers, including malignant brain tumors, neuroblastoma, sarcomas, and lymphomas (including Hodgkin’s lymphoma). The Phase 1 study is being conducted internationally at 7 leading pediatric cancer centers.The company’s product pipeline includes one preclinical PDC chemotherapeutic program (CLR 1900) and multiple partnered PDC assets.For more information, please visit www.cellectar.com or join the conversation by liking and following us on the company’s social media channels: Twitter, LinkedIn, and Facebook.Forward-Looking Statement Disclaimer This news release contains forward-looking statements. You can identify these statements by our use of words such as "may," "expect," "believe," "anticipate," "intend," "could," "estimate," "continue," "plans," or their negatives or cognates. These statements are only estimates and predictions and are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. These statements are based on our current beliefs and expectations as to such future outcomes including our expectations of the impact of the recent COVID-19 pandemic. Drug discovery and development involve a high degree of risk. Factors that might cause such a material difference include, among others, uncertainties related to the ability to raise additional capital, uncertainties related to the disruptions at our sole source supplier of CLR 131, the ability to attract and retain partners for our technologies, the identification of lead compounds, the successful preclinical development thereof, patient enrollment and the completion of clinical studies, the FDA review process and other government regulation, our ability to maintain orphan drug designation in the United States for CLR 131, the volatile market for priority review vouchers, our pharmaceutical collaborators' ability to successfully develop and commercialize drug candidates, competition from other pharmaceutical companies, product pricing and third-party reimbursement. A complete description of risks and uncertainties related to our business is contained in our periodic reports filed with the Securities and Exchange Commission including our Form 10-K for the year ended December 31, 2019 and our Form 10-Q for the quarter ended March 31, 2020. These forward-looking statements are made only as of the date hereof, and we disclaim any obligation to update any such forward-looking statements. These forward looking statements are made only as of the date hereof, and we disclaim any obligation to update any such forward-looking statements.ContactsInvestors:Monique Kosse Managing Director LifeSci Advisors 646-915-3820 email@example.com
Which stocks have been the stars of 2020? Biotechs. Amid the onset of the global health crisis, companies advancing COVID-19 vaccines, treatments and testing kits have seen their shares take off rapidly on an upward trajectory. That said, Wall Street focus has locked in on the space for a different reason, namely merger & acquisition (M&A) activity.Sure, against the backdrop of the pandemic and the resulting economic downturn, some names have opted to put a temporary hold on deal activity given the uncertainty that remains. That’s not to say deals aren’t being made. Based on data from Refinitiv, in the first half of 2020, there have been 20,664 mergers announced globally, totaling $1.2 trillion as of June 30.With deals still being inked, the Street’s pros argue that there’s an opportunity for investors, as buyouts represent one of the fastest ways to see returns. Why? If a particular name is snapped up by another at a premium, the former can see its shares notch a percentage gain that’s close to that of the premium.Bearing this in mind, we used TipRanks’ database to take a closer look at two healthcare stocks that reflect strong M&A targets, according to Wall Street analysts.Cellectar Biosciences (CLRB)Using its patented phospholipid drug conjugates (PDCs) delivery platform to specifically target cancer cells, Cellectar Biosciences wants to improve the lives of patients battling the deadly disease. Should its CLR-131 candidate ultimately gain approval, some members of the Street believe it would make a great buyout target.Writing for Oppenheimer, 5-star analyst Kevin DeGeeter tells clients that several factors are driving his bullish thesis. First and foremost, CLR-131 could get the FDA’s stamp of approval by the end of 2022 for lymphoplasmacytic lymphoma (LPL). To back up this prediction, the analyst stated, “There are no approved therapies for r/r LPL. Based on 100% response rate in four patients, including one CR, we expect management to advance CLR-131 into an abbreviated registration study by the end of 2020.” On top of this, DeGeeter cites the therapy’s differentiated AE profile and competitive objective response rate (ORR) as suggesting that material off-label use could be a possibility. “While the market is highly competitive with potential for BCMA compounds to change SOC in early lines of therapy, clinical outcomes for triple refractory patients that account for about 15% of all cases remain poor with response rates of ~30% and PFS of four months,” he explained.To this end, assuming a 60%/40% revenue split for the LPL and multiple myeloma markets, CLR-131 could generate peak sales of $290 million. If that wasn’t enough, development in rare pediatric cancers, including the potential for a priority review voucher, could drive even more upside. Speaking to the possibility of M&A, DeGeeter commented, “We view M&A following CLR-131's potential FDA approval as a likely outcome. Recent consolidation in the radiopharmaceutical market includes acquisitions of Advanced Accelerator Applications for $3.9 billion and of Endocyte for $2.1 billion (both in 2018). Given complex supply chains for radiopharmaceuticals, larger companies enjoy favorable economies of scale on distribution and cost of goods, in our view.”To this end, DeGeeter rates CLRB an Outperform (i.e. Buy) rating, along with a $5 price target. This figure implies shares could soar 283% in the next year. (To watch DeGeeter’s track record, click here)The rest of the Street agrees. Only Buy ratings, 3, in fact, have been issued in the last three months, which add up to a Strong Buy analyst consensus. At $3.67, the average price target puts the upside potential at 181%. (See CLRB stock analysis on TipRanks)Immunomedics (IMMU)With the goal of providing patients with better and more effective treatments, Immunomedics develops immunotherapeutics that target cancer, autoimmune and other serious diseases. Following a recent pipeline win that de-risked one of its assets, M&A discussions could be on the horizon.5-star analyst Michael Schmidt, of Guggenheim, points to the recent FDA approval of Trodelvy in triple-negative breast cancer (TNBC) as reflecting a “major de-risking pipeline event,” and as such, he thinks “IMMU could potentially be perceived as a theoretical acquisition candidate by investors.”Expounding on this, Schmidt stated, “In addition, we think IMMU is well-positioned as a potential acquisition candidate based on our analysis of 69 new chemical entities and new biologics US-approved in the past 12 months given that it ranks 3, only after Vertex Pharmaceuticals’ Trikafta and Seattle Genetics’ Padcev in terms of product revenue potential, while being the smallest among these three companies.”After assessing the clinical pipelines and commercial presence of 19 large-cap biopharmaceutical companies for potential synergies and strategic fit with IMMU, Schmidt argues several have significant overlap with Trodelvy’s potential target markets. Scoring each name based on their late-stage clinical pipeline in breast cancer, bladder cancer and lung cancers as well as their existing commercial footprint in those indications and revenue growth rates, the analyst concluded Pfizer, Merck, Rogers and Eli Lilly are the most likely to acquire IMMU.How much would IMMU actually be worth in an M&A scenario? $50-$60 per share, in Schmidt’s opinion. That being said, even if IMMU isn’t ultimately acquired, the analyst still likes what he’s seeing.“We currently value IMMU at $41/share as a standalone company, based on probability-of-success (PoS) adjusted peak U.S. sales of Trodelvy of $790 million, $354 million, and $1,465 million, in 3rd-line TNBC, 2nd/3rd-line bladder cancer, and 4th-line HER2-/HR+ breast cancer, and 100%, 50%, and 80% PoS, respectively... Other signal finding studies are exploring opportunities in multiple tumor types, including NSCLC, endometrial, earlier lines of metastatic breast cancer and bladder cancer, as well as early stage breast cancer, which represent potential sources of upside for the stock,” he explained.In line with his optimistic take, Schmidt stayed with the bulls. In addition to reiterating a Buy recommendation, he left the price target at $52, which implies nearly 23% upside from current levels. (To watch Schmidt’s track record, click here) The bulls represent the majority on this one. Out of 9 total reviews published in the last three months, 8 analysts rated the stock a Buy, while 2 said Hold. So, IMMU gets a Strong Buy consensus rating. The $46.44 average price target suggests shares could rise nearly 10% in the next twelve months. (See IMMU stock analysis on TipRanks)To find good ideas for healthcare stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
FLORHAM PARK, N.J., July 21, 2020 -- Cellectar Biosciences, Inc. (NASDAQ: CLRB), a clinical-stage biopharmaceutical company focused on the discovery, development and.