Cellectar Biosciences Inc (NASDAQ:CLRB) stock ended sharply lower on Friday on high volume after the company released data.
Market Reaction
On Friday, CLRB stock slumped by 27 cent or 15% to trade at $1.55. The stock traded more than 2.32 million shares, well above its average volume of 719K shares.
Major Trigger:
Cellectar Presents Data in Waldenstrom’s Macroglobulinemia in Poster at the 2021 American Society of Clinical Oncology (ASCO) Annual Meeting
Key Highlights:
- presented a poster at the American Society of Clinical Oncology (ASCO) Annual meeting. In conjunction with the poster presentation, management will host a KOL call with the lead investigator for the company’s Phase 2 CLOVER-1 study of CLR 131 in patients with relapsed/refractory B-cell hematologic cancers, Dr. Sikander Ailawadhi, M.D. of the Mayo Clinic.
- The poster presentation entitled: Treatment Free Remission (TFR) and Overall Response Rate (ORR) Results in Patients with Relapsed/Refractory Waldenstrom’s Macroglobulinemia (WM) Treated with CLR 131 is an in-depth update of six patients from the company’s Phase 2a study of CLR 131 in Waldenstrom’s macroglobulinemia. To date, data have shown:
- 100% (6/6) overall response rate, 83.3% (5/6) major response rate and a 16.7% (1/6) complete response rate, Median time to initial response was 22 days after first infusion, Median time to major response, as defined as at least a 50% reduction in IgM, was 44 days after first infusion.
- Mean treatment free remission, as defined as the time from the last CLR 131 infusion to progression of disease, is 1.1 years and remains ongoing
“CLR 131 is a differentiated targeted radiotherapy that has the potential to address patients with any mutational status, risk profile or multi-drug refractoriness in WM. Our pivotal study strategy will leverage these properties to address the treatment needs of patients, including the potential to provide durable response rates and meaningful treatment-free remission,” said Dr. John Friend, chief medical officer at Cellectar. “CLR 131 has demonstrated impressive results including, to our knowledge, the only monotherapy to result in a complete response in this challenging WM patient set.”
 Under Pressure After Data){kind=link}