Cellectar Biosciences Announces Exercise of Tranche B Warrants and Purchase of New Warrants for Approximately $19.4 million with the Potential to Raise Up to an Additional $73.3 Million

Group 1 - Cellectar Biosciences, Inc. has announced the exercise of the majority of Tranche B warrants for Series E preferred stock, generating gross proceeds of approximately $19.4 million, with potential additional proceeds of up to $73.3 million from newly purchased warrants [1][2][11] - The company plans to file a New Drug Application (NDA) for iopofosine I 131 for the treatment of Waldenstrom's macroglobulinemia in Q4 2024, seeking priority review [2] - Cellectar focuses on the development of proprietary drugs for cancer treatment using its Phospholipid Drug Conjugate™ (PDC) delivery platform, aiming for improved efficacy and safety [3][13] Group 2 - The new warrants include Tranche A, B, and C, with Tranche A potentially generating approximately $17.0 million, Tranche B approximately $32.9 million, and Tranche C approximately $23.5 million based on specific exercise triggers [11] - The company's product pipeline features lead asset iopofosine I 131, designed for targeted delivery of iodine-131, along with other preclinical PDC chemotherapeutic programs and partnered assets [13]