Cellectar Biosciences: To host conference call on August 20th to discuss second quarter 2014 results and provide quarterly update on development progress

Contact: Kate McNeil
Vice President of IR, PR & Corporate Communications
Cellectar Biosciences, Inc.
Phone: (347) 204-4226
Email: kmcneil@cellectar.com

MADISON, Wis., Aug. 18, 2014 (GLOBE NEWSWIRE) — Cellectar Biosciences,
Inc. (Nasdaq:CLRB), a biopharmaceutical company developing innovative
agents for the detection and treatment of cancer, announced that
management will host a conference call and live webcast to discuss
second quarter 2014 financial results and provide an update on each of
its development programs on Wednesday, August 20th at 5:00 PM ET.

Event Details:

Interested investors may participate in the conference call by dialing
888-646-8293 (domestic) or 973-453-3065 (international). A replay will
be available for one week following the call by dialing 855-859-2056
for domestic participants or 404-537-3406 for international
participants and entering conference ID 90511388 when prompted.
Participants may also access both the live and archived webcast of the
conference call on the investor relations section of Cellectar’s web
site, www.cellectar.com.

To Ask Questions:

Following prepared remarks and time permitting, management will provide
an opportunity for participants dialed into to the live teleconference
to ask questions. Investors may also e-mail their questions to
ir@cellectar.com. E-mail questions will be accepted until 12:00 noon ET
on Wednesday, August 20, 2014.

About Cellectar Biosciences, Inc.

Cellectar Biosciences is developing agents to detect, treat and monitor
a broad spectrum of cancers. Using a novel phospholipid ether analog
(PLE) platform technology as a targeted delivery and retention vehicle,
Cellectar’s compounds are designed to be selectively taken up and
retained in cancer cells including cancer stem cells. With the ability
to attach both imaging and therapeutic agents to its proprietary
delivery platform, Cellectar has developed a portfolio of product
candidates engineered to leverage the unique characteristics of cancer
cells to “find, treat and follow” malignancies in a highly selective
way. I-124-CLR1404 is a small-molecule, broad-spectrum, cancer-targeted
PET imaging agent currently being evaluated in a Phase II glioblastoma
imaging trial. I-124-CLR1404 has been granted Orphan status as a
diagnostic for the management of gliomas from the US FDA. Additionally,
multiple investigator-sponsored Phase I/II clinical trials are ongoing
across 11 solid tumor indications. I-131-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. A Phase Ib dose-escalation trial of
I-131-CLR1404 in patients with advanced solid tumors was completed in
the first quarter of 2014 and results presented at the American Society
of Clinical Oncology (ASCO) 2014 Annual Meeting. CLR1502 is a
preclinical, cancer-targeted, non-radioactive optical imaging agent for
intraoperative tumor margin illumination and non-invasive tumor
imaging. For additional information please visit www.cellectar.com

This news release contains forward-looking statements. You can identify
these statements by our use of words such as “may,” “expect,”
“believe,” “anticipate,” “intend,” “could,” “estimate,” “continue,”
“plans,” 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 31, 2013. These forward-looking statements are made
only as of the date hereof, and we disclaim any obligation to update
any such forward-looking.