I n v e s t o r F a c t s h e e t | Q 1 2 0 2 3

OVERVIEW

We are a late-stage clinical biopharmaceutical company focused on the discovery, development and commercialization of drugs for the treatment of cancer. The company's core objective is to leverage its proprietary Phospholipid Drug Conjugate™ (PDC) delivery platform to develop PDCs that specifically target cancer cells to deliver improved efficacy and better safety as a result of fewer off-target effects. The company's PDC platform possesses the potential for the discovery and development of the next- generation of cancer-targeting treatments, and the company plans to develop PDCs independently and

through research and development collaborations.

Iopofosine I 131 (CLR 131) and PDC PLATFORM

Iopofosine is a PDC designed to provide targeted delivery of iodine-131 directly to cancer cells, while limiting exposure to healthy cells. This novel, targeted radiotherapeutic provides a differentiated product profile with unique benefits. Ongoing clinical studies include:

  • The pivotal Phase 2 Part B (CLOVER-WaM): A registration study currently evaluating iopofosine in Waldenstrom's macroglobulinemia (WM) patients who have received at least 2 prior lines of therapy, including in Bruton tyrosine kinase inhibitor (BTKi) failed or suboptimal-response patients.
  • The Phase 2 Part A (CLOVER-1): Additional evaluation of iopofosine in highly refractory multiple myeloma patients and select B-cell malignancies.
  • A Phase 1 dose-escalating pediatric clinical study in children and adolescents with relapsed or refractory cancers, including malignant brain tumors, neuroblastoma, sarcomas, and lymphomas (including Hodgkin's lymphoma). The study is being conducted internationally at seven leading pediatric cancer centers.
  • A proprietary PDC chemotherapeutic program and partnered assets including an alpha emitter and small molecule cytotoxic compounds.

CURRENT PIPELINE OPPORTUNITIES & DEVELOPMENT STATUS

FAST FACTS (as of 9/30/2022) 1, 2

Ticker (Exchange)

CLRB (Nasdaq)

Stock Price2

$1.85

Market Cap

$17.4M

Cash Available1

$17.8M

Outstanding

9.4M

Shares2

52-Week Range2

$1.25 -$7.90

Avg. Daily Volume2

59,800 (3 mo.)

Headquarters

Florham Park,NJ

Fiscal Year End

December 31

  1. As reported 9/30/2022
  2. As of 1/6/2023

PDC PROGRAM

INDICATION

DISCOVERY

PRECLINICAL

PHASE 1

PHASE 2

PIVOTAL

COLLABORATION PARTNER

Waldenstrom's

Macroglobulinemia

Highly Refractory

Multiple Myeloma

Iopofosine

I 131

Pediatric

HeadandNeck (IIS)

CLR1900

Solid Tumors

PARTNERSHIPS

CLR2000

Solid Tumors

CLR12120

Solid Tumors

New PDCs

Various Targets

New PDCs

Various Targets

I n v e s t o r F a c t s h e e t | Q 1 2 0 2 3

LEADTHERAPEUTIC CANDIDATE: Iopofosine I 131 (CLR 131)

Iopofosine is a radio-labeled small molecule therapeutic that exploits the selective uptake and retention of phospholipid ethers (PLEs) by malignant cells. Iopofosine is currently in four ongoing clinical studies evaluating its safety and efficacy in a variety of hematologic and solid cancers. A pivotal study in 50 patients with WM who have received at least 2 prior lines of therapy, including those that have failed or had a suboptimal response to BTKi therapy, was initiated in January 2021. To date, iopofosine has demonstrated a 100% overall response rate in WM patients in Part A of the Phase 2 study.

PDC PLATFORM

Our PDC Platform provides selective delivery of a diverse range of oncologic molecules to cancer cells - whether it's the primary tumor, metastatic tumor and/or cancer stem cells. Due to the diversity of molecules that can be used, PDCs can treat a wide variety of cancers: both hematologic and solid tumors, including braintumors.

  • The PDC platform's mechanism of entry does not rely upon specific cell surface epitopes or antigens like other targeted delivery platforms, allowing the molecules to potentially target all existing tumor cellsin the body.
  • Our PDC platform takes advantage of a metabolic pathway utilized by all tumor cell types in all stages of the tumor cycle. Tumor cells modify regions on the cell surface as a result of the utilization of this metabolic pathway. Our PDCs bind to these regions and enter the intracellular compartment.
  • The PDC platform has the capacity to link with almost any molecule and provide a significant increase in targeted oncologic payload delivery to potentially all tumor cells in the body. As a result, it improves the therapeutic index of oncologic drug payloads, enhancing or maintaining efficacy while reducing adverse events.

RECENT DEVELOPMENTS

November 30, 2022

Cellectar Biosciences Announces Shane Lea as Chief Commercial Officer

November 21, 2022

Cellectar Biosciences Announces Presentation of Data on CLR 12120 Series of Targeted Alpha- Emitting Therapies at the 13th Annual World ADC Conference

November 16, 2022

Cellectar Announces Resolution of Breach

of Contract and Intellectual Property

Dispute

November 3, 2022

Cellectar Reports Financial Results for Third Quarter 2022 and Provides a Corporate Update

MANAGEMENT TEAM

James Caruso

President, CEO and Director

Chad Kolean

Chief FinancialOfficer

Shane Lea

Chief Commercial Officer

Jarrod Longcor

Chief Operating Officer

Forward-Looking Statement Disclaimer

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 including our expectations of the impact of the recent COVID-19 pandemic. 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 disruptions at our sole source supplier of iopofosine, the ability to attract and retain partners for our technologies, the identification of lead compounds, the successful preclinical development thereof, patient enrollment and the completion of clinical studies, the FDA review process and other government regulation, our ability to maintain orphan drug designation in the United States for iopofosine, the volatile market for priority review vouchers, 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, 2021, and our Form 10-Qfor the quarter ended September 30, 2022. These forward-lookingstatements are made only as of the date hereof, and we disclaim any obligation to update any such forward-lookingstatements.

CONTACT

Cellectar Biosciences, Inc.

100 CampusDrive, Suite207 Florham Park, NJ 07932

  1. (608) 441-8120investors@cellectar.com

www.cellectar.com

www.wmclinicaltrial.com

@Cellectarbio

Cellectar Biosciences

Cellectar Biosciences, Inc.

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Cellectar BioSciences Inc. published this content on 13 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2023 19:19:04 UTC.