FDA Designation Sparks Rally For This Biotech

By: Dylan Sikes – AllPennyStocks.com News

Wednesday, June 4, 2025

A New Jersey-based biotech company stole the show on Wednesday after the company announced it was granted FDA Breakthrough Therapy Designation status for its Iopofosine I-131.

Traders rushed to buy up shares of Cellectar Biosciences Inc. (Nasdaq:CLRB), pushing the micro cap to close the session up at $0.4617/share (+66.32%).

Cellectar Biosciences Inc is a clinical-stage biopharmaceutical company. It is focused on the discovery, development and commercialization of drugs for the treatment of cancer. The company's core objective is to leverage proprietary phospholipid drug conjugate (PDC) delivery platform to develop PDCs that are designed to specifically target cancer cells and deliver improved efficacy and better safety as a result of fewer off-target effects. Its lead PDC therapeutic, iopofosine is a small-molecule PDC designed to provide targeted delivery of iodine-131 directly to cancer cells, while limiting exposure to healthy cells.

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