Cellectar Biosciences has begun shutting down manufacturing operations at its headquarters and its plan going forward will be to have one of the company’s existing partners handle finished product manufacturing, Cellectar CEO Jim Caruso said Monday.
Madison, WI-based Cellectar (NASDAQ: CLRB) is developing drugs with the potential to treat malignant tumors and certain forms of blood cancer, including multiple myeloma.
Caruso said the company plans to lay off six of its 16 employees as a result of the decision to shut down its manufacturing activities. The shutdown process started earlier this month and is expected to be complete by the… Read more »
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