Oppenheimer raised the firm’s price target on Cellectar Biosciences to $11 from $8 and keeps an Outperform rating on the shares. On Monday, Cellectar announced highly statistically significant pivotal results for lead asset Iopofosine-I131 in heavily pretreated WaM patients, including a 61% major response rate, the primary endpoint, in the evaluable population, with a January 3rd data cut off. The firm says these results easily surmount the previously guided hurdle of a 20% MRR with data continuing to mature, and an additional 10 patients on treatment potentially adding to this total. Further, Oppenheimer sees the results as likely to support an approval when the data set further matures.
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Read More on CLRB:
- Cellectar Biosciences says CLOVER WaM study met its primary endpoint
- Cellectar Biosciences Announces Positive Topline Data Achieving Primary Endpoint in Pivotal Clinical Study of Iopofosine I 131 in Waldenstrom’s Macroglobulinemia
- Cellectar Biosciences Expands Iopofosine I 131 Collaboration with Wisconsin Alumni Research Foundation
- Cellectar Biosciences expands iopofosine I 131 collaboration with WARF
- Cellectar Biosciences receives Notice of Allowance for patent for PDC platform
