ROTH Capital Partners Acts as Sole Placement Agent
for Cellectar Biosciences, Inc. (NASDAQ: CLRB)
in its $10 Million Financing

   

For more information please contact:

Investment Banking
Eric B. Cheng
Managing Director
Co-Head of Healthcare
Investment Banking
(646) 358-1901
echeng@roth.com

James Antonopoulos
Managing Director
Co-Head of Healthcare
Investment Banking
(646) 358-1906
jantonopoulos@roth.com


Equity Capital Markets
Aaron Gurewitz
Head of Equity
Capital Markets
(949) 720-5703
agurewitz@roth.com
 
Nazan Akdeniz
Senior Vice President
(949) 720-5740
nakdeniz@roth.com
 
Lou Ellis
Senior Vice President
(949) 720-5739
lellis@roth.com

 

Transaction Information
Cellectar Biosciences, Inc. (NASDAQ: CLRB), a clinical stage biopharmaceutical company focused on the discovery, development and commercialization of drugs for the treatment of cancer, has closed a sale of 1,982,000 common shares in a registered direct offering and concurrent private placement of 2,018,000 common shares with institutional investors.  In conjunction with the offerings, the company issued 4,000,000 unregistered warrants to purchase common stock. The shares of common stock and warrants were sold at $2.50 per fixed combination. The warrants sold in the private placement were immediately exercisable, expire five years after the date of issuance, and have an exercise price of $2.40.  The resulting gross proceeds to the company from the offerings were $10.0 million.

ROTH Capital Partners acted as sole placement agent for the offerings.

About Cellectar Biosciences
Cellectar Biosciences is focused on the discovery, development, and commercialization of drugs for the treatment of cancer. The company plans to develop proprietary drugs independently and through research and development (R&D) collaborations. The core drug development strategy is to leverage its PDC platform to develop therapeutics that specifically target treatment to cancer cells. Through R&D collaborations, Cellectar seeks to generate near-term capital, supplement internal resources, gain access to novel molecules or payloads, accelerate product candidate development and to broaden our proprietary and partnered product pipelines.

The company’s lead PDC therapeutic, CLR 131, is in a Phase 2 clinical study (CLOVER-1) in R/R MM and select B-cell malignancies, as well as a dose escalation Phase 1 study in patients with R/R MM. The company has initiated a Phase 1 study with CLR 131 in pediatric solid tumors and lymphoma.

Cellectar’s product pipeline also includes one preclinical PDC chemotherapeutic program (CLR 1900) and several partnered PDC assets. For more information, please visit www.cellectar.com.
(Source: Company Press Release | 5/16/19)

About ROTH Capital Partners
ROTH Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving emerging growth companies and their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading, market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately-held and employee owned, and maintains offices throughout the U.S. For more information on ROTH, please visit www.roth.com.

Date of Announcement: 5/23/19

The material, information and  facts discussed in this announcement other than the information regarding ROTH Capital Partners, LLC ("ROTH") and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This announcement should not be used as a complete analysis of any companies, securities or topics discussed herein. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Any opinions or estimates in this announcement are subject to change without notice. An investment in any security based on this announcement may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Additionally, such investments may involve a high degree of risk and may not be suitable for all investors. No part of this announcement may be reproduced in any form without the express written permission of ROTH. Copyright 2019.