Cellectar Biosciences Announces Up To ~$103M Private Placement Financing With Certain Institutional Investors
Portfolio Pulse from Happy Mohamed
Cellectar Biosciences, Inc. (NASDAQ:CLRB) has announced a private placement financing agreement with institutional investors that could result in gross proceeds of up to $102.9 million. The financing is led by Rosalind Advisors and includes participation from AIGH Capital, ADAR1, Second Line, Nantahala Capital, AuGC, and other investors. The funds will be used to support corporate activities, including the potential accelerated approval and commercialization of iopofosine, Cellectar's lead asset.
September 05, 2023 | 12:22 pm
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Cellectar Biosciences' private placement financing could result in gross proceeds of up to $102.9 million. This funding will support corporate activities and the potential commercialization of iopofosine, the company's lead asset.
The announced private placement financing is a significant financial boost for Cellectar Biosciences. It will provide the necessary capital to fund corporate activities and potentially accelerate the approval and commercialization of iopofosine, their lead asset. This news is likely to be viewed positively by investors, potentially leading to an increase in the company's stock price in the short term.
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