OTCQB CEOs and CFOs Strongly Support Creating a Better OTCQB Venture Stage Marketplace
OTC Markets Group recently conducted a survey of OTCQB® and OTCQX® U.S. companies regarding planned improvements to the OTCQX and OTCQB marketplaces and ways we can improve the marketplaces and enhance shareholder value for the companies that trade there. Below are the results of the survey, which were shared in an e-mail notification to issuers this month.
Sample of Individual Responses
What does OTC Markets Group provide that you find most valuable?
Compared to an exchange, what does OTC Markets not offer that you wish it did?
Thank you to the 200 OTCQB and OTCQX companies who participated in the survey. We value your detailed feedback and look forward to working with you as we improve the OTCQX and OTCQB marketplaces for your company and investors.
For more about this survey or for questions, contact OTC Markets Group’s Corporate Services at +1 (212) 896-4420 or email@example.com.
Get to Know Your Community: Interview with Dr. Simon Pedder, acting CEO of Cellectar Biosciences Inc.
This month, we speak with Dr. Simon Pedder, acting CEO of Cellectar Biosciences Inc. (OTCQX: CLRB). The company, which joined OTCQX in February 2012, recently underwent a strategic realignment that included organizational changes and a corporate name change. Dr. Pedder talks with us about the company’s growth strategy going forward.
We believe the beauty of our cancer-targeting technology is that we are able to combine a wide variety of known imaging and therapeutic agents with our delivery and retention platform, creating opportunities for development across a broad range of uses and indications.
Cellectar’s current portfolio consists of PET imaging agents, optical imaging agents and therapeutic agents.
Our most advanced clinical candidate, I-124-CLR1404, is a small-molecule, broad-spectrum, cancer-targeted PET imaging agent. We are initiating a Phase II trial evaluating I-124-CLR1404 imaging of glioblastoma compared with standard of care magnetic resonance imaging (MRI) this quarter and expect to be able announce results from this trial by year-end 2014.
The next candidate slated for clinical trials is CLR1502, our cancer-targeted, non-radioactive optical imaging agent for intraoperative tumor margin illumination and non-invasive tumor imaging. We expect to obtain regulatory approval to initiate a multi-center Phase I trial in patients undergoing breast-conserving surgery in 2014. The trial will aim to establish the safety of CLR1502 and demonstrate its utility in the identification and differentiation of malignant and non-malignant tissue, based on pathology confirmation.
As we ramp up the development of our imaging agents, we are looking forward to reporting results this quarter from a Phase Ib trial of our therapeutic candidate, I-131-CLR1404, in patients with advanced solid tumors. I-141-CLR1404 is a small-molecule, broad-spectrum, cancer-targeted molecular radiotherapeutic that delivers cytotoxic radiation directly and selectively to cancer cells including cancer stem cells.
OTCM: Your company recently underwent a strategic realignment, including some organizational and personnel changes, a corporate name change and relocation of your headquarters. Tell us about some of these changes and why are you doing this now.
SP: This is a new era at the company; our priority has shifted to focused execution of our clinical programs to support regulatory approval of our products.
Cellectar was founded on extraordinary technology. Years of research have been dedicated not only to identifying and developing our core cancer-targeting technology, but also rigorously conducting thorough studies of its potential applications. Having now accumulated a compelling library of research supporting its viability across a broad range of cancers, it was time to sharpen our focus and apply the same discipline as has historically been applied to our research to mapping out a path to approval for our product candidates.
This process required some tough decisions as the opportunities are all compelling and the urgency and potential benefits to patients significant. However, several key themes emerged that guided our decision making process and that we feel define our new direction.
It is imperative that we validate our core cancer delivery and retention platform by demonstrating efficacy in robust, multi-center Phase II clinical trials in patients. Because each of our product candidates leverage the same platform, success in one indication provides additional support for pursuing additional indications in the future.
We believe our technology has the potential to target oncology indications that are currently woefully underserved by current imaging and treatment options. Pursuing a development strategy that targets rare or orphan indications not only offers the opportunity to potentially impact the lives and care of patients that are in critical need of new options, but also allows us to more effectively use our resources to conduct trials that are, generally speaking, smaller in scale.
Further, by initially prioritizing development of our imaging agents over our therapeutic agents, we believe the overall development program can be successfully executed more rapidly with a smaller clinical safety and efficacy dataset requirements for U.S. regulatory approval.
Finally, our corporate history also reflects the merger of a public company and a previously private company. Though we are utilizing the advantages afforded to us by the public company, including increased visibility in the capital markets, the research and development efforts are focused on technology developed by our private company predecessor, Cellectar, Inc.
As we looked to set our development priorities, we also felt it was important to not only realign the tremendous expertise of our existing employees with our new programs, but also to consolidate our operations in one location to optimize our collective efforts. Madison, Wisconsin, which has long been home to a majority of our employees and our in-house manufacturing site, was the natural choice for our corporate headquarters and principal executive offices.
With the right team and the right programs, we are now poised to execute on the near-term opportunities that will provide the foundation for our future growth and success. We look forward to starting this new chapter and are proud to do so under a new name, Cellectar Biosciences, that reflects the origins of our technology and the simplicity of our mission to create cancer and cancer stem cell selective technology.
OTCM: What is your growth strategy going forward?
SP: We believe we have identified a development strategy that affords us significant near-term opportunities to validate our technology while laying the foundation for the expansion of our research and development into additional oncology indications that will generate substantial future growth opportunities. Our preclinical work suggests our platform truly targets a broad range of cancer, selectively seeking out malignancy and accumulating in the cancer cells and stem cells, regardless of location within the body. This represents enormous opportunity for us to both expand the potential oncology indications for our agents currently under development as well as the opportunity to explore additional imaging and therapeutic agents that could be enhanced by selective targeting and retention in malignant cells.
We are fortunate in that our portfolio is also well suited to potential partnership and co-development opportunities that could potentially accelerate development across indications and geographies. Up until now, we have benefitted from meaningful support and collaboration from independent clinical researchers and academic institutions. Looking ahead, we plan to adopt a more pro-active business development strategy that might enable us balance internal research and product development with continued academic collaboration and new corporate partnering opportunities to more rapidly and broadly advance our pipeline.
OTCM: What else should U.S. investors know about Cellectar?
SP: We have taken significant steps to realign our business and begin rebuilding shareholder value. We have defined clinical development programs that target areas of high-unmet medical need, provide an opportunity to validate our technology and allow us to firmly establish proof-of-concept for our highly selective cancer-targeting and retention delivery platform. However, this is just the beginning. Over the next 12-18 months, investors can expect to see us report data from our Phase Ib therapeutic trial, complete our Phase II Glioma imaging trial and begin a Phase I trial of our optical imaging agent in breast cancer patients undergoing lumpectomy. Data from these programs will be critical to defining the potential of our technology and afford both the medical and investment communities the opportunity to see the true value of the advancements in targeted cancer imaging and treatment being made at Cellectar. We look forward to increasing the opportunities for dialogue with our investors throughout this process and maintaining an open, transparent and accessible relationship with our key stakeholders as we make progress against our newly identified goals.
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Monthly Trade Summary — January 2014
Events & Sponsorships
OTC Markets Group has attended or will attend the following events to educate investors, broker-dealers, and OTCQX, OTCQB and OTC Pink companies about our marketplaces.
STANY 78th Annual Conference & Dinner (April 10, 2014)
ISEEE Spring 2014 Meeting (April 6-10, 2014)
26th Annual ROTH Conference (March 9-12, 2014)
Webinar: The Anatomy of an IPO (February 12, 2014)
Contact us if you are interested in meeting us at one of these events.
Tick pilot for illiquid stocks gains momentum - The Trade News (February 25, 2014)
Blue Sky Filing Service To Launch
Streamlined News Distribution for GlobeNewswire Subscribers
Free Access to Zacks Research Reports via www.otcmarkets.com
Sharing Research with Investors is Now Simpler
Service Provider Directory Now Available
Contact Corporate Services at 212.896.4420 or firstname.lastname@example.org to learn more.
Market Data Updates
For more information, contact our Market Data Services at 212.220.2166 or email@example.com.
Regulation & Compliance
New Requirements Require Alternative Trading Systems to Report Weekly Volume Information
Revised Migration Date for New FINRA ORF Platform
SEC Proposes for Comment New Crowdfunding Regulation
SEC Releases Proposed Rules on Regulation A+
- New Additions
8 new companies joined OTCQX in January:
A complete list of OTCQX companies is available on www.otcqx.com.