About Us   |   Contact Us
	HOME REPORTS TRACK RECORD DISCLAIMER
	LATEST REPORT MONDAY , MAY  23th 2016 11:22 AM Stock: CLRB Our Opinion: SHORT HEADLINE Cellectar Biosciences Patent Application for Phospholipid-Ether Analogs as Cancer Targeting Drug Vehicles Published by USPTO OUR ASSESSMENT Hammer Research believes the recent surge in price for CLRB is not warranted in the short term for the following reasons; 1) Recent news states that Cellectar has simply received their identification numbers for previously submitted patent applications. Patent identification numbers are used to find the application(s) in a patent search on the online patent database (USPTO). This is a baby step in the average 4 years between filing and approval of a biotech patent, let alone the average $100-500 million price tag and, unless fast-tracked, the 10-12 years for FDA approval of a new drug. Cellectar’s products have barely started the journey into the FDA approval process with only Phase I and II clinical trials. 2) Phospholipid drug delivery systems are not new to the market. Cellectar will have to prove that their proprietary phospholipid ether analog molecule is superior to similar drugs already FDA approved, such as Doxil, a phospholipid bound chemotherapy drug used to treat Ovarian cancer and multiple myeloma.   3) Financially, Cellectar is struggling with decreased funding for research and development of their products from $1.6M in the 1st Quarter 2015 to $1.04M in the 1st Quarter 2016. They currently have no revenues from products with all gains derived from offerings of common stock. 4) Cellectar has a high cash burn rate. During the first quarter of 2016, Cellectar had burned through approximately $1.95M in cash and by the end of that quarter, had $1.9M remaining in cash. Cellectar was required to complete a stock and warrant offering on April 20, 2016 in order to continue current operations, otherwise the company would have run out of cash before the end of the second quarter, June 30, 2016. In addition, since August of 2015, they have received 2 letters of listing noncompliance from Nasdaq, namely that their stockholders’ equity was less than the required minimum of $2.5 million. Compliance was regained by instituting a 1:10 reverse split and an offering April 20, 2016, in which the total balance when added to their net equity resulted in $9.8 million. The company expects to require additional capital (future offerings) in order to continue operations given the fact they continue to generate significant operating losses.    MISSION Our objective is to identify stocks that are moving significantly in percentage terms, in a very short period of time. Research the fundamentals of the company to determine if the recent news justifies the gains reflected in the price. When we are confident the stock increase is not warranted, we release a report.    DISCLAIMER This disclaimer is to be read and fully understood before using any of our website information, following any of our social networking platforms or joining our email list. By using this website or any of our Social Network accounts you agree to the terms of this disclaimer.    PREVIOUS REPORT TUESDAY , MARCH  29th 2016 07:33 AM Alert 03/29/2016 @  07:33 AM  Price: $ 6.30 Closing Price on Alert Day: $ 4.94  After 1 day: $ 4.71  After 2 days: $ 4.67
	Hammer Research About Us Contact Us Subscribe Disclaimer Site Home Reports Track Record Follow Us Copyright © 2021 Hammer Research Corporation. All rights reserved.