Cellectar Biosciences: Promising Future with FDA Clarity and Innovative Radiopharmaceutical Advancements

Maxim Group analyst Jason McCarthy maintained a Buy rating on Cellectar Biosciences (CLRB – Research Report) yesterday and set a price target of $1.00.

Jason McCarthy has given his Buy rating due to a combination of factors that highlight Cellectar Biosciences’ promising future. The company has recently received regulatory clarity from the FDA for its Iopofosine-131 treatment in Waldenstrom’s macroglobulinemia, which could lead to accelerated approval. This regulatory progress, coupled with positive Phase 2b data, positions Cellectar to potentially secure a partnership that could provide non-dilutive funding to support its pipeline.
Furthermore, Cellectar is advancing its radiopharmaceutical assets, CLR-121225 and CLR-121125, into Phase 1 studies expected to commence in the first half of 2025. These assets leverage innovative radio-conjugate technologies with isotopes like Actinium-225 and Iodine-125, which are gaining traction in the industry due to their precise tumor-targeting capabilities. The growing interest in alpha-emitting radiopharmaceuticals, as evidenced by recent high-profile acquisitions in the sector, underscores the potential value of Cellectar’s pipeline. These strategic developments and the company’s focus on advancing its assets contribute to McCarthy’s optimistic outlook and Buy rating.