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Biotechnology

Novelos Therapeutics, Inc. (CLRB) is a preclinical-stage biopharmaceutical company that focuses on the research and development of cancer therapies. The company's lead product candidate is L-BLP25, a synthetic lipid- attached peptide (LAP) that is designed to stimulate the body's immune system to seek out and destroy cancer cells. L-BLP25 is being studied in several clinical trials for the treatment of various types of cancer, including pancreatic, ovarian, and non-small cell lung cancer.

As for financials, the company is not currently generating any revenue and has reported net losses in each of the past several years. For the year ended December 31, 2020, the company reported a net loss of approximately $1.4 million, compared to a net loss of approximately $1.5 million for the same period in 2019. As of December 31, 2020, the company had an accumulated deficit of approximately $104.5 million.

It is important to note that the stock of Novelos Therapeutics is traded over-the-counter(OTC) and it is not listed on any major stock exchanges such as NYSE or NASDAQ. This means that the company may not be required to file financial statements or other reports with the Securities and Exchange Commission (SEC) as frequently or in as much detail as companies listed on major exchanges. Therefore, it can be harder to find detailed and reliable financial information about OTC companies.

It's advisable to conduct your own research, and consult with a financial advisor or broker when considering an investment in a small, preclinical-stage biopharmaceutical company like Novelos Therapeutics.