Cellectar Biosciences to explore strategic alternatives; hires Oppenheimer as advisor

Cellectar Biosciences, Inc.

Board authorized exploration of M&A, partnerships, licensing or other transactions; no deal reached.
Oppenheimer & Co. retained as exclusive financial advisor for the strategic evaluation process.
CEO James Caruso cites need for a partner to develop lead asset iopofosine I-131 and pipeline.
Alpha- and Auger-emitting radioconjugates CLR 225 and CLR 125 in solid tumors are additional opportunities.
No timetable set; company will not update progress unless a definitive agreement is reached.

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