Oppenheimer Reiterates Perform Rating on Cellectar Biosciences (CLRB)

Oppenheimer analyst Jeff Jones reiterated a Perform rating on Cellectar Biosciences (NASDAQ: CLRB).

The analyst commented: "On Sunday, CLRB announced additional details on the status of ongoing regulatory discussions for its lead Iopofosine I131 program in WaM, ahead of a presentation at the Biotech Showcase in San Francisco scheduled for Tuesday. Key takeaways from the announcement are that discussions with regulators continue, with a clear regulatory path anticipated 1H25. Our discussions with management suggest estimated costs for the confirmatory study could be lower than prior guidance, $30-35M to complete the study, potentially opening the door to retain the program in-house. The company further announced that its cash runway has been extended by a quarter, with current funds anticipated to support operations into 4Q25.

We remain on the sidelines ahead of clarity on the future of the Iopofosine I131 program. Maintain Perform."

For an analyst ratings summary and ratings history on Cellectar Biosciences click here. For more ratings news on Cellectar Biosciences click here.

Shares of Cellectar Biosciences closed at $0.28 yesterday.

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