Another day, another stock offering from Cellectar Biosciences.
The Madison, WI-based biotech, which announced a $3.3 million stock offering in September 2015 and then said in April that it had raised $8 million from investors, now says it’s raising another $8 million in an offering that’s expected to close on Nov. 29. Cellectar’s pipeline includes several early-stage product candidates for cancer treatment.
Shares in Cellectar (NASDAQ: CLRB) fell following Wednesday’s announcement. The company’s stock price closed the trading day at $1.49 a share, down more than 31 percent from Tuesday’s closing price of $2.16 a share.
Two firms Cellectar chose to help manage the offering are Miami-based Ladenburg Thalmann and New York-based Aegis Capital, according to a news release.