Cellectar Biosciences Bolsters Capital with Warrant Exercise Strategy

Cellectar Biosciences (CLRB) just unveiled an update.

Cellectar Biosciences, Inc. successfully enticed holders of its Tranche B warrants to exercise their options early by offering them a lower conversion price of $2.52 per share, resulting in the company raising $19.4 million in gross proceeds. In return, the company issued new warrants with varying conditions and expiration dates linked to future milestones involving their drug iopofosine I 131. The transaction, which was exempted from SEC registration requirements, highlights the company’s strategic financial maneuvering to bolster its capital and secure investor commitments.

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