<SEC-DOCUMENT>0001144204-16-102546.txt : 20160516
<SEC-HEADER>0001144204-16-102546.hdr.sgml : 20160516
<ACCEPTANCE-DATETIME>20160516160330
ACCESSION NUMBER:		0001144204-16-102546
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20160512
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160516
DATE AS OF CHANGE:		20160516

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Cellectar Biosciences, Inc.
		CENTRAL INDEX KEY:			0001279704
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				043321804
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36598
		FILM NUMBER:		161653596

	BUSINESS ADDRESS:	
		STREET 1:		3301 AGRICULTURE DRIVE
		CITY:			MADISON
		STATE:			WI
		ZIP:			53716
		BUSINESS PHONE:		617-244-1616

	MAIL ADDRESS:	
		STREET 1:		3301 AGRICULTURE DRIVE
		CITY:			MADISON
		STATE:			WI
		ZIP:			53716

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NOVELOS THERAPEUTICS, INC.
		DATE OF NAME CHANGE:	20050617

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COMMON HORIZONS INC
		DATE OF NAME CHANGE:	20040211
</SEC-HEADER>
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<TYPE>8-K
<SEQUENCE>1
<FILENAME>v440100_8k.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B><BR>
<B>SECURITIES AND EXCHANGE COMMISSION</B><BR>
Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report: May 12, 2016<BR>
(<I>Date of earliest event reported</I>)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CELLECTAR BIOSCIENCES, INC.</B><BR>
(<I>Exact name of registrant as specified in its charter</I>)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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    <TD STYLE="width: 2%; font-size: 10pt; text-align: center; padding-bottom: 1pt">&nbsp;</td>
    <TD STYLE="width: 32%; padding-right: 0.2in; padding-left: 0.2in; font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 10pt"><b>1-36598</b></font></td>
    <TD STYLE="width: 2%; font-size: 10pt; text-align: center; padding-bottom: 1pt">&nbsp;</td>
    <TD STYLE="width: 32%; padding-right: 0.2in; padding-left: 0.2in; font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><font style="font-size: 10pt"><b>04-3321804</b></font></td></tr>
<tr style="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><i>(State or other jurisdiction</i></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><i>of incorporation)</i></P></td>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</td>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><i>(Commission</i></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><i>File Number)</i></P></td>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</td>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><i>(IRS Employer</i></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><i>Identification Number)</i></P></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>3301 Agriculture Drive </B><BR>
<B>Madison, WI 53716</B><BR>
(<I>Address of principal executive offices</I>)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(608) 441-8120</B><BR>
(<I>Registrant's telephone number, including area code</I>)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD><TD>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD><TD>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD><TD>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD><TD>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.9in; text-align: left"><B>ITEM 7.01</B></TD><TD STYLE="text-align: justify"><B>REGULATION FD DISCLOSURE</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On May 12, 2016, we issued a press release announcing our first
quarter 2016 results. The release further announced that management would host a conference call to review our results for the
quarter and our development plans on May 12, 2016, beginning at 5:00 P.M. EDT. A copy of the press release is furnished as Exhibit
99.1, and is incorporated by reference herein. The earnings call was announced in a press release issued on May 4, 2016. A copy
of the press release is furnished as Exhibit 99.2, and is incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.9in; text-align: left"><B>ITEM 9.01</B></TD><TD STYLE="text-align: justify"><B>FINANCIAL STATEMENTS AND EXHIBITS</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(d) Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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    <td style="width: 20%; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">Number</font></td>
    <td style="width: 2%; text-align: center">&nbsp;</td>
    <td style="width: 78%; border-bottom: black 1pt solid"><font style="font-size: 10pt">Title</font></td></tr>
<tr style="vertical-align: top">
    <td style="text-align: center"><font style="font-size: 10pt">99.1</font></td>
    <td style="text-align: center">&nbsp;</td>
    <td><font style="font-size: 10pt">Press release dated May 12, 2016, entitled &ldquo;Cellectar Biosciences Announces First Quarter 2016 Financial Results&rdquo;</font></td></tr>
<tr style="vertical-align: top">
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="text-align: center"><font style="font-size: 10pt">99.2</font></td>
    <td style="text-align: center">&nbsp;</td>
    <td><font style="font-size: 10pt">Press release dated May 4, 2016, entitled &ldquo;Cellectar Biosciences to Host Conference Call on May 12, 2016 to Report First Quarter 2016 Financial Results and Provide a Corporate Performance Update&rdquo;</font></td></tr>
</table>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center">SIGNATURE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: left">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

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<tr style="vertical-align: top">
    <td>Dated:&nbsp;&nbsp;May 16, 2015</td>
    <td colspan="2"><b>CELLECTAR BIOSCIENCES, INC.</b></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="width: 49%"><i>&nbsp;</i></td>
    <td style="width: 3%">By:</td>
    <td style="width: 48%; border-bottom: Black 1pt solid"><i>/s/&nbsp;&nbsp;Chad J. Kolean</i></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>Name:&nbsp;&nbsp;Chad J. Kolean </td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>Title:&nbsp;&nbsp;Vice President and Chief Financial Officer</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;&nbsp;</P>

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    <td style="width: 2%; text-align: center">&nbsp;</td>
    <td style="width: 78%; border-bottom: black 1pt solid"><font style="font-size: 10pt">Title</font></td></tr>
<tr style="vertical-align: top">
    <td style="text-align: center"><font style="font-size: 10pt">99.1</font></td>
    <td style="text-align: center">&nbsp;</td>
    <td><font style="font-size: 10pt">Press release dated May 12, 2016, entitled &ldquo;Cellectar Biosciences Announces First Quarter 2016 Financial Results&rdquo;</font></td></tr>
<tr style="vertical-align: top">
    <td style="text-align: center">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="text-align: center"><font style="font-size: 10pt">99.2</font></td>
    <td style="text-align: center">&nbsp;</td>
    <td><font style="font-size: 10pt">Press release dated May 4, 2016, entitled &ldquo;Cellectar Biosciences to Host Conference Call on May 12, 2016 to Report First Quarter 2016 Financial Results and Provide a Corporate Performance Update&rdquo;</font></td></tr>
</table>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0; text-align: right; margin-bottom: 0"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Cellectar
Biosciences Announces<SUP> </SUP>First Quarter 2016 Financial Results </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="color: #050505">Madison, WI</FONT><FONT STYLE="color: #3D60AE">
</FONT>(May 12, 2016<FONT STYLE="color: #050505">) &mdash; </FONT>Cellectar Biosciences, Inc. (NASDAQ:CLRB), an oncology-focused
biotechnology company, <FONT STYLE="color: #050505">today announces its financial results for the first quarter of 2016. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #050505">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">During the first quarter of 2016, the company reported research
and development expenses of $1.0 million, a reduction of $0.6 million from the first quarter of 2015. This improvement is attributable
to the company&rsquo;s shift in strategic focus on its therapeutic compound research and development efforts and the streamlined
clinical trial approach it implemented during the second half of 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Cellectar&rsquo;s general and administrative expenses for first
quarter 2016 totaled $1.0 million, similar to the prior year period. Loss from operations was $2.0 million, compared to $2.6 million
during the same period last year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company ended the first quarter with $1.9
million in cash and cash equivalents, compared to $3.9 million in cash and cash equivalents on December 31, 2015. When added to
the approximately $7.2 million generated from the recently completed public offering, the company estimates that its available
cash and cash equivalents should fund its planned operations into the first quarter of 2017. However, the company expects that
additional capital will be required to complete its planned clinical and preclinical development.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&ldquo;We continue to successfully execute our operating plan which
included positive CLR 131 phase 1 data for the treatment of relapsed or refractory multiple myeloma, advanced our chemotherapeutic
phospholipid drug conjugate program and launched our research collaboration with Pierre Fabre,&rdquo; said Jim Caruso. &ldquo;We
look forward to sharing these results in our conference call this afternoon and discussing our plans to further advance the company.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Cellectar will be holding a conference call at 5:00 PM ET today
to review these results, as well as the company&rsquo;s development plans. The call can be accessed by calling 888-646-8293. The
call will also be webcast and replays will be available, both via the Investor Relations section of the company&rsquo;s website:
investor.cellectarbiosciences.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><B>About Cellectar Biosciences, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">Cellectar Biosciences is developing phospholipid
drug conjugates (PDCs) designed to provide cancer targeted delivery of diverse oncologic payloads to a broad range of cancers
and cancer stem cells. Cellectar's PDC platform is based on the company's proprietary phospholipid ether analogs. These novel
small-molecules have demonstrated highly selective uptake and retention in a broad range of cancers. Cellectar's PDC pipeline
includes product candidates for cancer therapy and cancer diagnostic imaging. The company's lead therapeutic PDC, CLR 131, utilizes
iodine-131, a cytotoxic radioisotope, as its payload. CLR 131 is currently being evaluated under an orphan drug designated Phase
1 study in patients with relapsed or refractory multiple myeloma. The company is also developing PDCs for targeted delivery of
chemotherapeutics such as paclitaxel (CLR 1603-PTX), a preclinical stage product candidate, and plans to expand its PDC chemotherapeutic
pipeline through both in-house and collaborative R&amp;D efforts. For additional information please visit <U>www.cellectarbiosciences.com</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"># # #</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">This news release contains forward-looking
statements. You can identify these statements by our use of words such as &quot;may,&quot; &quot;expect,&quot; &quot;believe,&quot;
&quot;anticipate,&quot; &quot;intend,&quot; &quot;could,&quot; &quot;estimate,&quot; &quot;continue,&quot; &quot;plans,&quot; or
their negatives or cognates. These statements are only estimates and predictions and are subject to known and unknown risks and
uncertainties that may cause actual future experience and results to differ materially from the statements made. These statements
are based on our current beliefs and expectations as to such future outcomes. Drug discovery and development involve a high degree
of risk. Factors that might cause such a material difference include, among others, uncertainties related to the ability to raise
additional capital, uncertainties related to the ability to attract and retain partners for our technologies, the identification
of lead compounds, the successful preclinical development thereof, the completion of clinical trials, the FDA review process and
other government regulation, our pharmaceutical collaborators' ability to successfully develop and commercialize drug candidates,
competition from other pharmaceutical companies, product pricing and third-party reimbursement. A complete description of risks
and uncertainties related to our business is contained in our periodic reports filed with the Securities and Exchange Commission
including our Form 10-K for the year ended December&nbsp;31, 2015. These forward-looking statements are made only as of the date
hereof, and we disclaim any obligation to update any such forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">INVESTOR AND MEDIA CONTACT:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">Jules Abraham<BR>
JQA Partners<BR>
917-885-7378</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">jabraham@jqapartners.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: #3D60AE"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 99.2&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: #3D60AE"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Cellectar
Biosciences to Host Conference Call on May 12, 2016 to Report<BR>
First Quarter 2016 Financial Results and Provide a Corporate Performance Update</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: #3D60AE"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="color: #050505">Madison, WI</FONT><FONT STYLE="color: #3D60AE">
(</FONT>May 4, 2016<FONT STYLE="color: #050505">) &mdash; </FONT>Cellectar Biosciences, Inc. (NASDAQ:CLRB), an oncology-focused
biotechnology company, <FONT STYLE="color: #050505">today announces that management will host a teleconference and live webcast
to report first quarter 2016 financial results, followed by a review of corporate performance, on May 12 at 5:00 PM EDT.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #050505">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="color: #050505"><B>Event Details</B></FONT><BR>
<FONT STYLE="color: #050505">Interested investors may participate in the conference call by dialing (888) 646-8293 (US domestic)
or (973) 453-3065 (international) or participate via webcast. The live and archived webcast can be accessed via the company&rsquo;s
website at </FONT>http://investor.cellectarbiosciences.com/events.cfm<FONT STYLE="color: #050505">. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #050505">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>About Cellectar Biosciences, Inc.</B><BR>
Cellectar Biosciences is developing phospholipid drug conjugates (PDCs) designed to provide cancer targeted delivery of diverse
oncologic payloads to a broad range of cancers and cancer stem cells. Cellectar's PDC Delivery Platform is based on the company's
proprietary phospholipid ether analogs. These novel small-molecules have demonstrated highly selective uptake and retention in
a broad range of cancers. Cellectar's PDC pipeline includes product candidates for cancer therapy and cancer diagnostic imaging.
The Company's lead therapeutic PDC, CLR 131, utilizes iodine-131, a cytotoxic radioisotope, as its payload. CLR 131 is currently
being evaluated under an orphan drug designated Phase 1 study in patients with relapsed or refractory multiple myeloma. The company
is also developing PDCs for targeted delivery of chemotherapeutics such as paclitaxel (CLR 1602-PTX), a preclinical stage product
candidate, and plans to expand its PDC chemotherapeutic pipeline through both in-house and collaborative R&amp;D efforts. For
additional information please visit <U>www.cellectarbiosciences.com</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"># # #</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">This news release contains forward-looking
statements. You can identify these statements by our use of words such as &quot;may,&quot; &quot;expect,&quot; &quot;believe,&quot;
&quot;anticipate,&quot; &quot;intend,&quot; &quot;could,&quot; &quot;estimate,&quot; &quot;continue,&quot; &quot;plans,&quot; or
their negatives or cognates. These statements are only estimates and predictions and are subject to known and unknown risks and
uncertainties that may cause actual future experience and results to differ materially from the statements made. These statements
are based on our current beliefs and expectations as to such future outcomes. Drug discovery and development involve a high degree
of risk. Factors that might cause such a material difference include, among others, uncertainties related to the ability to raise
additional capital, uncertainties related to the ability to attract and retain partners for our technologies, the identification
of lead compounds, the successful preclinical development thereof, the completion of clinical trials, the FDA review process and
other government regulation, our pharmaceutical collaborators' ability to successfully develop and commercialize drug candidates,
competition from other pharmaceutical companies, product pricing and third-party reimbursement. A complete description of risks
and uncertainties related to our business is contained in our periodic reports filed with the Securities and Exchange Commission
including our Form 10-K for the year ended December&nbsp;31, 2015. These forward-looking statements are made only as of the date
hereof, and we disclaim any obligation to update any such forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">INVESTOR AND MEDIA CONTACT:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">Jules Abraham<BR>
JQA Partners<BR>
917-885-7378</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">jabraham@jqapartners.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>


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