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Cellectar Biosciences (CLRB) just unveiled an update.
Cellectar Biosciences, Inc. successfully enticed holders of its Tranche B warrants to exercise their options early by offering them a lower conversion price of $2.52 per share, resulting in the company raising $19.4 million in gross proceeds. In return, the company issued new warrants with varying conditions and expiration dates linked to future milestones involving their drug iopofosine I 131. The transaction, which was exempted from SEC registration requirements, highlights the company’s strategic financial maneuvering to bolster its capital and secure investor commitments.
Learn more about CLRB stock on TipRanks’ Stock Analysis page.