Cellectar Biosciences announced today the pricing of its underwritten public offering of its common stock at $1.35 per share, which will result in gross proceeds of approximately $24.5 million.

Cellectar also announced that in a concurrent private placement transaction, it sold 1,518.5180 shares of Series D convertible preferred stock for gross proceeds of approximately $20.5 million.

The public offering and the private placement are expected to close by Dec. 28, 2020.