<SEC-DOCUMENT>0001144204-19-000891.txt : 20190107
<SEC-HEADER>0001144204-19-000891.hdr.sgml : 20190107
<ACCEPTANCE-DATETIME>20190107160513
ACCESSION NUMBER:		0001144204-19-000891
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190107
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190107
DATE AS OF CHANGE:		20190107

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:		19513387

	BUSINESS ADDRESS:	
		STREET 1:		100 CAMPUS DRIVE
		CITY:			FLORHAM PARK
		STATE:			NJ
		ZIP:			07932
		BUSINESS PHONE:		(608) 441-8120

	MAIL ADDRESS:	
		STREET 1:		100 CAMPUS DRIVE
		CITY:			FLORHAM PARK
		STATE:			NJ
		ZIP:			07932

	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
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<TYPE>8-K
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<FILENAME>tv510524_8k.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B><BR>
<B>SECURITIES AND EXCHANGE COMMISSION</B><BR>
Washington, D.C. 20549</P>

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

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report: January 7, 2019<BR>
(<I>Date of earliest event reported</I>)</P>

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

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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Delaware</B></P></TD>
    <TD STYLE="width: 34%; padding-right: 0.2in; padding-left: 0.2in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><B>1-36598</B></P></TD>
    <TD STYLE="width: 33%; padding-right: 0.2in; padding-left: 0.2in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><B>04-3321804</B></P></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(State or other jurisdiction</I></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>of incorporation)</I></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Commission</I></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>File Number)</I></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(IRS Employer</I></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Identification Number)</I></P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>100 Campus Drive, Florham Park, New Jersey
07932</B><BR>
(<I>Address of principal executive offices</I>)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</TD>
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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</TD>
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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Emerging growth company <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>ITEM
7.01&nbsp; &#9;REGULATION FD DISCLOSURE</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On January 7, 2019, we issued a press release <FONT STYLE="color: #050505">announcing
median overall survival (mOS) in Cohorts 1-4 of our ongoing Phase 1 clinical trial evaluating CLR 131 for the treatment of relapsed/refractory
(R/R) multiple myeloma (MM). </FONT>A copy of the press release is furnished as Exhibit 99.1 and is incorporated by reference herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>ITEM
9.01 FINANCIAL STATEMENTS AND EXHIBITS</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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    <TD STYLE="width: 2%; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 88%; border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">Title</FONT></TD></TR>
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    <TD STYLE="font-size: 10pt; text-align: center"><A HREF="tv510524_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">99.1</FONT></A></TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><A HREF="tv510524_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Press release dated January 7, 2019, titled &ldquo;Cellectar Provides Update on Phase 1 Trial of CLR 131 in Relapsed/Refractory Multiple Myeloma&rdquo;</FONT></A></TD></TR>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">SIGNATURE</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">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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    <TD>Dated:&nbsp;&nbsp;January 7, 2019&nbsp;&nbsp;</TD>
    <TD COLSPAN="2"><B>CELLECTAR BIOSCIENCES, INC.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;<I>/s/ Brian M. Posner</I></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name:&nbsp;&nbsp;Brian M. Posner</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:&nbsp;&nbsp;Chief Financial Officer</TD></TR>
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<TYPE>EX-99.1
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<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: left"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Cellectar Provides Update on Phase 1
Trial of CLR 131 in Relapsed/Refractory Multiple Myeloma</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Median overall survival of 22.0 months
observed in Cohorts 1-4 </I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>FLORHAM PARK, N.J. (January 7, 2019)</B> &ndash; Cellectar
Biosciences (Nasdaq: CLRB), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization
of drugs for the treatment of cancer, today announced median overall survival (mOS) in Cohorts 1-4 of the company&rsquo;s ongoing
Phase 1 clinical trial evaluating CLR 131 for the treatment of relapsed/refractory (R/R) multiple myeloma (MM). The results showed
mOS of 22.0 months among 15 patients, all of whom were heavily pretreated, averaging five prior lines of systemic therapy. Each
patient in Cohorts 1-4 of this dose-escalation study received a single 30-minute infusion of CLR 131.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All patients enrolled in Cohorts 1 through 4 were previously
treated with both proteasome inhibitors and immunomodulatory drugs, and experienced disease progression with greater than one-third
dual refractory. While no head-to-head studies have been conducted between CLR 131 and other therapies in this heavily pretreated
population, for background purposes, a 2016 article published in the journal <I>Bone Marrow Transplantation </I>refractory to both
proteasome inhibitors and immunomodulatory drugs achieve mOS of 9 months.<SUP>1</SUP> Additionally, mOS for R/R MM patients receiving
treatment in third line averages approximately 12 months of survival, including several recently approved drugs.<SUP>2,3</SUP></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;The median overall survival of 22 months in this heavily
pretreated patient population is very encouraging. These are patients with limited therapeutic options and, unfortunately, face
poor prognoses,&rdquo; said James Caruso, president and chief executive officer of Cellectar Biosciences. &ldquo;The convenience
afforded by CLR 131 delivered in only one or two doses as currently administered in our ongoing hematology studies makes it a far
less intrusive regimen than other treatments that must be administered at regular dosing intervals. We believe extending mOS with
a more patient-friendly dosing regimen provides both a distinctive product profile and the potential to provide beneficial patient
outcomes even in later lines of therapy.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-weight: normal">1.
R.F Cornell and A.A. Kassim (2016). <FONT STYLE="color: #222222">Evolving paradigms in the treatment of relapsed/refractory multiple
myeloma: increased options and increased complexity. Journal of Bone Marrow Transplantation</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-weight: normal">2.
Jurczyszyn et al (2014). New drugs in multiple myeloma &ndash; role of carfilzomib and pomalidomide. Contemporary Oncology</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3. Dimopolous et al (2016). Safety and efficacy of pomalidomide
plus low-dose dexamethasone in STRATUS (MM-010): a phase 3b study in refractory multiple myeloma. Blood Review</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About the Phase 1 R/R MM Trial</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">The objective of this
multicenter, open-label, Phase 1 dose-escalation study is the characterization of safety and tolerability of CLR 131 administered
either as a single-dose or split-dose, 30-minute infusion(s) in patients with R/R MM. In Cohorts 1-4, patients received doses of
12.5 mCi/m<SUP>2</SUP> up to 31.25 mCi/m<SUP>2</SUP>. All doses were deemed safe and well tolerated by an independent Data Monitoring
Committee (DMC). </FONT>All 15 patients were heavily pretreated, receiving an average of five previous lines of multidrug therapy
including anti-CD38, immunomodulating drugs and proteasome inhibitors. All patients were relapsed or refractory to at least one
proteasome inhibitor and IMiD. Most patients presented with advanced stage 2 or 3 disease and 67% had previously received at least
one stem cell transplant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">Data from Cohort 5, released
in August 2018, evaluated a split or fractionated dose of 31.25 mCi/m<SUP>2</SUP> for tolerability and safety. </FONT>The dosing
schedule provided higher average drug exposure but lower peak serum levels than non-fractionated dosing, potentially reducing adverse
events and improving efficacy. The DMC determined the fractionated dose used in Cohort 5 to be safe and well tolerated, and recommended
advancement to a higher dose cohort.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In December 2018, Cohort 6 was initiated. Cohort 6 will evaluate
up to four patients with each receiving two doses of 18.75 mCi/m2 of CLR 131 administered one week apart. This fractionated dosing
regimen will result in each patient being treated with a total of approximately 75.0 mCi of CLR 131, representing an increase in
average total exposure of greater than 15% over Cohort 5.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white"><B>About CLR 131</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">CLR
131 is Cellectar&rsquo;s investigational radioiodinated </FONT>phospholipid ether-drug conjugate (PDC&trade;) <FONT STYLE="background-color: white">therapy
that exploits the tumor-targeting properties of the company's proprietary phospholipid ether (PLE) and PLE analogs to selectively
deliver radiation to malignant tumor cells, thus minimizing radiation exposure to normal tissues. </FONT>CLR 131 is in a Phase
2 clinical study in R/R MM and a range of B-cell malignancies, and a Phase 1 clinical study in patients with R/R MM exploring fractionated
dosing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">The objective of the multicenter,
open-label, Phase 1 dose-escalation study is the characterization of safety and tolerability of CLR 131 in patients with R/R MM.
Patients in Cohorts 1-4 received single doses of CLR 131 ranging from 12.5 mCi/m<SUP>2</SUP> to 31.25 mCi/m<SUP>2</SUP>, as well
as a fractionated dose of 15.625 mCi/m<SUP>2</SUP> given twice over seven days in Cohort 5. </FONT>Cohort 6 will evaluate up to
four patients with each receiving two doses of 18.75 mCi/m2 of CLR 131 administered one week apart. This fractionated dosing regimen
will result in each patient being treated with a total of approximately 75.0 mCi of CLR 131, representing an increase in average
total exposure of greater than 15% over Cohort 5. <FONT STYLE="background-color: white">All study doses and regimens have been
deemed safe and well tolerated by an independent DMC. </FONT>The company plans to initiate a Phase 1 study with CLR 131 in pediatric
solid tumors and lymphoma, as well as a second Phase 1 study in combination with external beam radiation for head and neck cancer.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white"><B>About Phospholipid
Drug Conjugates&trade;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Cellectar's product candidates are built upon a patented delivery
and retention platform that utilizes optimized PDCs to target cancer cells. The PDC platform selectively delivers diverse oncologic
payloads to cancerous cells and cancer stem cells, including hematologic cancers and solid tumors. This selective delivery allows
the payloads&rsquo; therapeutic window to be modified, which may maintain or enhance drug potency while reducing the number and
severity of adverse events. This platform takes advantage of a metabolic pathway utilized by all tumor cell types in all cell cycle
stages. Compared with other targeted delivery platforms, the PDC platform&rsquo;s mechanism of entry does not rely upon specific
cell surface epitopes or antigens. In addition, PDCs can be conjugated to molecules in numerous ways, thereby increasing the types
of molecules selectively delivered. Cellectar believes the PDC platform holds potential for the discovery and development of the
next generation of cancer-targeting agents.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Cellectar Biosciences is focused on the discovery, development
and commercialization of drugs for the treatment of cancer. The company plans to develop proprietary drugs independently and through
research and development (R&amp;D) collaborations. The core drug development strategy is to leverage our PDC platform to develop
therapeutics that specifically target treatment to cancer cells. Through R&amp;D collaborations, the company&rsquo;s strategy is
to generate near-term capital, supplement internal resources, gain access to novel molecules or payloads, accelerate product candidate
development and broaden our proprietary and partnered product pipelines.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The company's lead PDC therapeutic, CLR 131, is in a Phase 1
clinical study in patients with R/R MM and a Phase 2 clinical study in R/R MM and a range of B-cell malignancies. The company plans
to initiate a Phase 1 study with CLR 131 in pediatric solid tumors and lymphoma as well as a second Phase 1 study in combination
with external beam radiation for head and neck cancer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The company&rsquo;s product pipeline also includes one preclinical
PDC chemotherapeutic program (CLR 1900) and partnered assets including PDCs from multiple R&amp;D collaborations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For more information please visit&nbsp;<FONT STYLE="color: blue"><U>www.cellectar.com</U></FONT>.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Forward-Looking Statement Disclaimer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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 disruptions at our sole source supplier of CLR 131, 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, the volatile market for priority review vouchers, 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, 2017 and
our Form 10-Q for the quarterly period ended September 30, 2018. 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: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>CONTACT:&nbsp;</U></B><BR>
LHA Investor Relations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Miriam Weber Miller</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">212-838-3777</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">mmiller@lhai.com</P>

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

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