Slide 1: Corporate Presentation
Corporate Presentation NASDAQ: CLRB July 2026 Confidential. For Internal Use Only |. For fonts to display correctly, make sure Roboto is downloaded & installed Roboto
Slide 2: Forward-Looking Statements and Disclaimers
Forward-Looking Statements and Disclaimers This presentation contains forward-looking statements. Such statements are valid only as of today, and we disclaim any obligation to update this information. These statements are only estimates and predictions and are subject to known and unknown risks and
Slide 3: Overview
Overview Discovering and Developing the Next Generation of Phospholipid Drug Conjugates (PDC’s) • Phospholipid Radioconjugate (PRC), iopofosine I 131 in Waldenstrom’s macroglobulinemia (WM) – Achieved statistically significant response rate (primary endpoint) in Phase 2b CLOVER WaM study – Granted W
Slide 4: Formula for Value Creation
Formula for Value Creation Strategic Growth and Expansion • Optimize WM regulatory approval pathway for iopofosine I 131 – Phase 3 confirmatory study supports accelerated approval in U.S.; potential approval 4Q27 or 1Q28 – EMA Conditional Marketing Authorization submission based upon U.S. confirmato
Slide 5: Pipeline
Pipeline Compound Disease State Preclinical Phase 1 Phase 2 Phase 3 CONDITIONAL MARKET AUTHORIZATION Waldenström Clover WaM Phase 2 Study r/r WM APPROVAL macroglobulinemia Iopofosine I 131 ACCELERATED Iodine-131 APPROVAL β-emitting radioconjugate b-cell Malignancies DLBCL, MM & NHL Pediatric High-gr
Slide 6: Phospholipid Drug Conjugate (PDC)
Phospholipid Drug Conjugate (PDC) Platform Mechanism of Action (MOA)
Slide 7: PDC Platform MOA: Lipid Rafts
PDC Platform MOA: Lipid Rafts The Role of Lipid Rafts as a Universal Target in Cancer Lipid rafts and play an essential role in cancer Lipid Rafts Play an Influential Role in Cancer Enhanced oncogenic signaling • Concentrate and stabilize growth factor receptors Survival and resistance to apoptosis
Slide 8: PDC Platform MOA: Universal, Intracellular Targeting with Diverse Payloads
PDC Platform MOA: Universal, Intracellular Targeting with Diverse Payloads Enhanced Targeting, Limited Resistance, No Need for Bystander Effect, Improved Toxicity INTERCELLULAR DELIVERY AND RELEASE OF PAYLOAD SPECIFIC TARGETING OF LIPID RAFT ON CANCER PDC CONTAINING DESIRED PAYLOAD WITH BY TRANSMEMB
Slide 9: PDC Platform MOA: Lipid Rafts Mediate Entry into Tumor Cells
PDC Platform MOA: Lipid Rafts Mediate Entry into Tumor Cells Overabundance of Lipid Rafts on Tumor Cells Lipid Rafts Fluorescent-labeled with Cholera Toxin Subunit Methyl-β-cyclodextrin (MBCD) Selectively Disrupts Lipid Rafts A549 NSCLC A549 labeling vs Fibroblast Prostate Pancreatic Co-cultured No
Slide 10: Clinically Validated Platform and Payload Flexibility
PDC Platform MOA: Lipid Rafts Mediate Entry into Tumor Cells Clinically Validated Platform and Payload Flexibility Iopofosine I 131 Iopofosine I 124 100 Best Response by r/r WM Patient (n=55) 75 50 IgMReduction (%) 25 0 * (25) * * * * (50) * * * ** (75) * * ** (100) * PD SD MR PR CR/ VGPR 80 Best Re
Slide 11: Phospholipid Radioconjugate (PRC) program
Phospholipid Radioconjugate (PRC) program Beta Emitter Iopofosine I 131 Waldenstrom Macroglobulinemia
Slide 12: Iopofosine I 131: Global CLOVER-WaM Pivotal Study
Iopofosine I 131: Global CLOVER-WaM Pivotal Study Study Schema Enrollment Criteria Treatment and Primary Evaluation Period Long Term Follow-up (3 years) Endpoints: Key Secondaries: WM Patients who Major Response Rate DoR, TFR, ORR received 2 Prior lines of therapy, including failed or suboptimal res
Slide 13: CLOVER-WaM Demographics
PRC Iopofosine I 131: CLOVER-WaM Demographics Patient Characteristics Data Cut-off September 30, 2024 Patient Characteristics Patient Characteristics Safety population, n 65 Median Prior Lines of Therapy, n (range) 4 (2-15) Median age, years (range) 70 (50-88) Prior Treatment/Refractory n (%) Sex, n
Slide 14: CLOVER-WaM Efficacy Data
PRC Iopofosine I 131: CLOVER-WaM Efficacy Data Best Serum IgM Response by Patient Evaluable Efficacy Population (n=55) Evaluable Efficacy Population (n=55) ORR = 80% MRR = 58.2% DCR = 98.2% ORR = 83.6% MRR = 61.8% DCR = 98.2% 100% 100% VGPR/CR Rate = 9.1% VGPR/CR Rate = 14.5% 75% 75% 50% 50% IgMRedu
Slide 15: CLOVER-WaM Efficacy Data
PRC Iopofosine I 131: CLOVER-WaM Efficacy Data Duration of Response & Progression Free Survival Analysis (mITT)– Data cutoff Dec 2025 Median DoR = 533 Days / 17.8 months - + = censored Median PFS = 406 Days / 13.5 months - + = censored Iopofosine DoR Achieves 17.8 Months with a PFS of 13.5 Months Co
Slide 16: CLOVER-WaM Efficacy Data
PRC Iopofosine I 131: CLOVER-WaM Efficacy Data Sub-analysis of <2 Prior Lines vs >3 Prior Lines of Therapy: DoR and PFS in Patients (mITT) – Data cut-off Dec 2025 <2 Prior Lines of Therapy = 637 days / 21.2 months: >3 Lines Median DoR = 471 Days / 15.7 months - + = censored <2 Prior Lines of Therapy
Slide 17: CLOVER-WaM Safety Data
PRC Iopofosine I 131: CLOVER-WaM Safety Data Observed Cytopenias Consistent with Treatment of Hematologic Malignancies Any grade Grade ≥3 Most common TEAE* (>10% patients), n (%) Most common TEAE* (>10% patients), n (%) n=65 n=65 Hematologic Toxicities Thrombocytopenia 53 (81.5) Thrombocytopenia 56
Slide 18: Confirmatory Study for Full Approval
PRC Iopofosine I 131: Confirmatory Study for Full Approval Waldenstrom’s macroglobulinemia Second Line or Iopofosine I 131 Primary Endpoint: PFS Later, Immediately (full approval) Post-BTKi Comparator: Secondary Endpoints: Randomized 1:1 rituximab cyclophosphamide MRR, safety dexamethasone (RCD) • E
Slide 19: U.S. & E.U. WM Market Opportunity
PRC Iopofosine I 131: U.S. & E.U. WM Market Opportunity Addressable Patients in a Concentrated Market with High Unmet Need US Prevalent Patient Population Based Upon Claims = 26,000 5 EU Prevalent Patient Population = ~36,0008 ~11,500 ~4,700 ~1,000 ~12,600 ~5,000 Concentrated 2nd line 3rd line or gr
Slide 20: Iopofosine I 131 Additional Indications
Phospholipid Radioconjugate (PRC) program Beta Emitter Iopofosine I 131 Additional Indications
Slide 21: r/r Multiple Myeloma Best Response
PRC Iopofosine I 131: r/r Multiple Myeloma Best Response Waterfall Plot of All Multiple Myeloma Patients Multiple myeloma cell lines Best Response by Patient (n=64) 80 Patients receiving at least 60mCi <60 mCi TAD 60 32% ORR >60 mCi TAD CLR 1501 96% DCR Quad-class refractory 40 3.3 months mPFS in po
Slide 22: Broad Clinical Activity Beyond WM
PRC Iopofosine I 131: Broad Clinical Activity Beyond WM Refractory Primary CNS Lymphoma Relapsed Pediatric High-Grade Glioma Complete Response Extended PFS (~12 months) Recurrent Head & Neck Cancer Refractory Diffuse Large B-cell Lymphoma 30% ORR with 10% CRR – CR PFS 6.8 years 73% ORR with 64% CRR
Slide 23: Auger Emitter – CLR 125 (TNBC)
Phospholipid Radioconjugate (PRC) Program Auger Emitter – CLR 125 (TNBC)
Slide 24: CLR 125: Auger Emitter
PRC CLR 12125 (CLR 125): Auger Emitter ( I) 125 Microenvironment, Tumor Biology & Isotope Properties Drive Safety and Efficacy Primary Mechanism of Penetrating Power Relative Biologic Composition Cell Death (Emission Distance) Effect 2 protons Double strand 50 – 100um Alpha Particles ~5 2 neutrons D
Slide 25: Enhanced Tumor Absorbed Dose Results in Increased Cell Killing
PRC CLR 121125 (CLR 125): Auger Emitter ( I) 125 Enhanced Tumor Absorbed Dose Results in Increased Cell Killing CLR 124 CLR 125 CLR 131 110% 100% Brain Brain Breasts Breasts 100% 90% Stomach Stomach Heart 90% Heart 80% Kidneys Kidneys Liver 80% Liver 70% Lungs Lungs Red Marrow 70% Red Marrow 60% Spl
Slide 26: Offers Benefits Vs Other Auger Emitters
PRC CLR 121125 (CLR 125): Auger Emitter ( I) 125 Offers Benefits Vs Other Auger Emitters Why I-125? • One of the highest Auger electron emitters • 57-day half-life enhanced outcomes • No Beta or Gamma emissions observed Existing data set supports Phase 1b/2 clinical study AE = Auger electron X = X
Slide 27: TNBC - Observed Statistically Significant Activity and Well Tolerated In Vivo
PRC CLR 121125 (CLR 125): Auger Emitter ( I) 125 TNBC - Observed Statistically Significant Activity and Well Tolerated In Vivo CLR 125 structurally identical to iopofosine I 131; potentially reduced B development risk A CLR 125 tested in MDA-MB-231 triple negative breast cancer • Observed significan
Slide 28: Phase 1b Dose Finding Study in Relapsed TNBC
PRC CLR 121125 (CLR 125): Auger Emitter ( I) 125 Phase 1b Dose Finding Study in Relapsed Triple Negative Breast Cancer 3 months 6 months 12 months Study Schematic Phase 1 Study Overview Key Inclusion/Exclusion Criteria 2 doses per cycle: 15 patients per arm • Imaging and therapy study • Confirmed TN
Slide 29: Alpha Emitters – CLR 225 (Pancreatic)
Phospholipid Radioconjugate (PRC) Program Alpha Emitters – CLR 225 (Pancreatic)
Slide 30: Tumor Volume Reduction and Survival Benefit in Pancreatic Cancer
PRC CLR 121225 (CLR 225): Alpha Emitter ( Ac) 225 Tumor Volume Reduction and Survival Benefit in Pancreatic Cancer MIA PaCa-2 Time to Progression BxPC-3 Time to Progression 100 100 Control 90 90 100 nCi 80 Control Progression Free (%) 80 500 nCi Progression Free (%) 70 250 nCi 70 250 nCi 60 60 500 n
Slide 31: Biodistribution in Pancreatic Model
PRC CLR 121225 (CLR 225): Alpha Emitter ( Ac) 225 Biodistribution in Pancreatic Model 40 4 hours 24 hours 72 hours 30 144 hours %ID/g 20 10 0 Brain Bone Muscle Small Large Stomach Pancreas Liver Spleen Kidney Heart Blood Tumor Intestines Intestines High and Prolonged Tumor Uptake; Low Normal Tissue
Slide 32: Tumor Volume Reduction and Survival Benefit in Prostate Cancer
PRC CLR 121225 (CLR 225): Alpha Emitter ( Ac) 225 Tumor Volume Reduction and Survival Benefit in Prostate Cancer • MyC-CaP and TRAMP-C1 prostate MyC-CaP TRAMP-C1 cancer xenograph models dosed after tumors reached 200mm3 • Doses of 200nCi or 500nCi • Dosimetry data showed increased uptake in TRAMP-C1
Slide 33: Phase 1 Clinical Study – Pancreatic Cancer
PRC CLR 121225 (CLR 225): Alpha Emitter ( Ac) 225 Phase 1 Clinical Study – Pancreatic Cancer Excellent labeling efficiency with 225Ac Phase 1 study design Imaging and therapy study Simplified reaction process Dose escalation utilizing an accelerated titration design (allows intrapatient dose escalat
Slide 34: Financials
Financials Capitalization BIOSCIENCES
Slide 35: Financial Summary
Financial Summary Cash Position as of March 31, 2026 (millions) $12.6M Capitalization as of May 7, 2026 Common Stock Outstanding 7,991,812 Pre-Funded Warrants 9,471,086 May 2026 Series A Common Warrant ($2.65 strike) 13,206,026 May 2026 Series B Common Warrant ($2.65 strike) 13,206,026 May 2026 Seri
Slide 36: Formula for Value Creation
Formula for Value Creation Strategic Growth and Expansion • Optimize WM regulatory approval pathway for iopofosine I 131 – Phase 3 confirmatory study supports accelerated approval in U.S.; potential approval in 2027 – EMA Conditional Marketing Authorization submission based upon U.S. confirmatory st
Slide 37: Thank You
Thank You
Slide 38: Executive Management Team
Executive Management Team Greater than 95 years combined leadership experience James Caruso Jarrod Longcor Chad Kolean President, CEO and Director Chief Operating Officer Chief Financial Officer Confidential. For Internal Use Only |. For fonts to display correctly, make sure Roboto is downloaded & i