Cellectar Biosciences Regains Compliance with Nasdaq Listing Rule 5250(c)(1)

Cellectar Biosciences, a late-stage clinical biopharmaceutical company operating on the Nasdaq under the ticker symbol CLRB, announced on November 1, 2024, that it has regained compliance with Nasdaq Listing Rule 5250(c)(1). This announcement comes as a result of a letter received from Nasdaq, Inc., informing the company about its regained compliance status.

In a press release issued on November 1, 2024, Cellectar Biosciences stated that it had filed restated audited consolidated financial statements for the fiscal years ended December 31, 2023, and 2022, as well as restated quarterly financial statements for various periods with the Securities and Exchange Commission. This filing included Form 10-K/A for the restated audited financial statements and Form 10-Q/A for the restated quarterly financial statements.

The Nasdaq letter acknowledged these filings and confirmed that Cellectar Biosciences had satisfactorily addressed the compliance concerns, thereby closing the matter.

Cellectar Biosciences is a clinical biopharmaceutical company that focuses on developing proprietary drugs for cancer treatment. Its primary goal is to utilize its proprietary Phospholipid Drug Conjugate (PDC) delivery platform to create advanced cancer cell-targeting treatments. These treatments aim to enhance efficacy while reducing off-target effects, leading to improved safety.

The company’s product pipeline includes iopofosine I 131, a PDC designed for targeted delivery of iodine-131, as well as various preclinical PDC chemotherapeutic programs and partnered PDC assets. Additionally, Cellectar Biosciences is developing radiotherapeutics utilizing alpha emitters and Auger emitters for solid tumor targeting.

For more information about Cellectar Biosciences and its research and development collaborations, please visit the company’s official website at www.cellectar.com. Interested individuals can also engage with the company on social media platforms such as Twitter, LinkedIn, and Facebook.

This press release contains forward-looking statements that are subject to risks and uncertainties. Factors such as the ability to raise capital, disruptions in the supply chain, regulatory approvals, and market competition can impact future outcomes. Readers are encouraged to review Cellectar Biosciences’ periodic reports filed with the Securities and Exchange Commission for a comprehensive understanding of the risks involved.

No information about the specific financial implications of the compliance restoration or potential impacts on Cellectar Biosciences’ stock performance was provided in the announcement.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Cellectar Biosciences’s 8K filing here.

Cellectar Biosciences Company Profile

Cellectar Biosciences, Inc, a clinical biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for the treatment of cancer. Its lead phospholipid drug conjugate (PDC) candidate is CLR 131 (iopofosine I-131), which is in Phase 2 clinical study for patients with B-cell malignancies; Phase 2a clinical study for patients with relapsed or refractory (r/r) Waldenstrom's macroglobulinemia cohort, r/r multiple myeloma (MM) cohort, and r/r non-Hodgkin's lymphoma cohort; Phase 1 clinical study for r/r pediatric patients with select solid tumors, lymphomas, and malignant brain tumors; and Phase 1 clinical study for r/r head and neck cancer.