Cellectar Biosciences Satisfies All Nasdaq Listing Criteria
16 Mai 2016 - 10:05PM
Cellectar Biosciences, Inc. (Nasdaq:CLRB) ("Cellectar" or the
"company"), an oncology-focused biotechnology company, announces
today that on May 16, 2016, Nasdaq issued a determination that the
company has evidenced compliance with all requirements for
continued listing on The Nasdaq Capital Market and, accordingly,
the listing qualifications matter has been closed.
This decision follows the Nasdaq Listing
Qualifications Panel’s recent determination granting the company’s
request for continued listing of its common stock on The Nasdaq
Capital Market, contingent upon evidence of compliance with the
minimum stockholders’ equity requirement.
"The panel's decision reflects Cellectar's efforts
to comply with all requirements for continued listing on The Nasdaq
Capital Market," said Jim Caruso, president and CEO of Cellectar
Biosciences. "We believe that our listing on Nasdaq provides
important benefits for our stockholders and for the future growth
of the company."
About Cellectar Biosciences, Inc. Cellectar
Biosciences is developing phospholipid drug conjugates (PDCs)
designed to provide cancer targeted delivery of diverse oncologic
payloads to a broad range of cancers and cancer stem cells.
Cellectar's PDC Delivery Platform is based on the company's
proprietary phospholipid ether analogs. These novel small-molecules
have demonstrated highly selective uptake and retention in a broad
range of cancers. Cellectar's PDC pipeline includes product
candidates for cancer therapy and cancer diagnostic imaging. The
company's lead therapeutic PDC, CLR 131, utilizes iodine-131, a
cytotoxic radioisotope, as its payload. CLR 131 is currently being
evaluated under an orphan drug designated Phase 1 study in patients
with relapsed or refractory multiple myeloma. The company is also
developing PDCs for targeted delivery of chemotherapeutics such as
paclitaxel (CLR 1602-PTX), a preclinical stage product candidate,
and plans to expand its PDC chemotherapeutic pipeline through both
in-house and collaborative R&D efforts. For additional
information please visit www.cellectarbiosciences.com.
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. 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 ability to attract and retain partners for our
technologies, the identification of lead compounds, the successful
preclinical development thereof, the completion of clinical trials,
the FDA review process and other government regulation, 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, 2015. These forward-looking
statements are made only as of the date hereof, and we disclaim any
obligation to update any such forward-looking statements.
INVESTOR AND MEDIA CONTACT:
Jules Abraham
JQA Partners
917-885-7378
jabraham@jqapartners.com
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