Cellectar Bio reports ‘impressive’ efficacy in Phase 1 trial, says Roth MKM

Roth MKM maintained a Buy rating and $20 price target on Cellectar Biosciences after Iopofosine I 131 plus external beam radiation therapy was shown to be safe and tolerated in a Phase 1 investigator-initiated trial treating 12 patients having locoregionally recurrent head and neck squamous cell carcinoma, as well as showing impressive efficacy. Despite Cellectar making a full effort to commercialize the drug itself, Roth MKM says the company is an attractive acquisition target.