Cellectar Biosciences (CLRB) Stock Continues To Decline 19.60%: The Company Is Awarded A $2 Million Nih Grant To Research Rare Lymphoma

The stock market of Cellectar Biosciences (CLRB) declining by 19.60% last month during the volatile patch. Last week’s prices were fluctuating from $0.92 to $0.82 showing the unstable dynamics. However, the statistics show that Cellectar Biosciences (CLRB) experiences a slight increase in stock prices by 4.4323%. Currently, the total market capitalization is equal to $50.103 million. Recently, the company has announced receiving a $2 Million NIH grant to study rare lymphoma.The National Cancer Institute has awarded Cellectar Biosciences a peer-reviewed National Institutes of Health Phase II Small Business Innovation Research grant for about a million. The company is now undertaking a pivotal study of iopofosine in Waldenstrom’s macroglobulinemia patients who have already undergone two lines of treatment.

The research began in January 2021 and is expected to take around 18 months to complete. Cellectar expects to have approximately $46.8 million in cash and cash equivalents by the third quarter of 2023 as a result of this grant. Lymphoma, or cancer of the lymphatic system, is Waldenstrom’s macroglobulinemia.

 

Miriam Bozini

Finance and Business Reporter