Benzinga | Aug 18, 2021 11:55AM EDT

Cellectar Receives $2M NIH Grant For Rare Lymphoma Study

* Cellectar Biosciences Inc (NASDAQ:CLRB) has received a peer-reviewed National Institutes of Health (NIH) Phase II Small Business Innovation Research (SBIR) grant of approximately $2 million from the National Cancer Institute (NCI).

* The Company is currently conducting a pivotal study of iopofosine I-131 (CLR 131) in Waldenstrom's macroglobulinemia (WM) patients who have received at least two prior lines of therapy.

* The study was initiated in January of 2021 and will take approximately 18 months to enroll fully.

* With the addition of this grant, Cellectar said over $46.8 million in cash and cash equivalents would provide a forecasted cash runway into Q3 2023.

* Waldenstrom's macroglobulinemia is lymphoma or cancer of the lymphatic system.

* The disease occurs in a type of white blood cell called a B-lymphocyte or B-cell, which matures typically into a plasma cell whose job is to manufacture immunoglobulins (antibodies) to help the body fight infection.

* Price Action: CLRB shares are down 0.82% at $0.87 during the market session on the last check Wednesday.