Business
Lantern Pharma Reports Fourth Quarter and Fiscal Year 2021 Financial Results and Operational Highlights
-- RADR®, Lantern's proprietary A.I. and machine learning platform, grew from 1.2 billion to over 18 billion data points, enhancing its precision, insights,
About this update from Lantern Pharma Inc.
[{"type":"text","content":"-- RADR®, Lantern's proprietary A.I. and machine learning platform, grew from 1.2 billion to over 18 billion data points, enhancing its precision, insights, and capabilities for oncology drug discovery\n -- Preparing for a 2022 launch of the Phase 2 trial for LP-300 in never smokers with NSCLC, which will be Lantern Pharma's second Phase 2 asset\n -- Received Orphan Drug Designations for LP-184 for multiple indications and a Rare Pediatric Disease Designation for ATRT, accelerating LP-184 towards IND submission and multiple Phase 1 clinical trials in 2022\n -- Expanded focus on leveraging RADR® for biopharma collaborations by increasing platform functionality, scale, and security\n -- Strengthened intellectual property estate with addition of 12 new patent applications\n -- $70.7 million of cash, cash equivalents and marketable securities as of December 31, 2021\n -- Announced share repurchase program with plans to acquire up to $7 million of common stock\n -- Conference call scheduled for 4:30 p.m. EST today\n\n\nDALLAS, March 10, 2022 /PRNewswire/ -- Lantern Pharma Inc. (NASDAQ: LTRN), a clinical stage biopharmaceutical company using its proprietary RADR® artificial intelligence (\"A.I.\") and machine learning (ML) platform to transform the cost, pace, and timeline of oncology drug discovery and development, today announced financial results and operational highlights for the fourth quarter and fiscal year ended December 31, 2021. \n\n \n \n \n \n \n \n\n \n\"2021 was a transformational year for Lantern Pharma as we strengthened our financial position, significantly expanded our A.I. platform, and achieved multiple key clinical milestones that further advanced our oncology portfolio,\" stated Panna Sharma, President and CEO of Lantern Pharma. \"Our proprietary RADR® A.I. platform surpassed 18 billion data points and grew over 1,000% in 2021, significantly exceeding our growth expectations. This further development of RADR® is enabling an acceleration of the insights that are powering development decisions for our drug candidates and also support evaluation of drugs and drug candidates of other biopharma companies.\" \n\"Across our entire portfolio of late-stage drug programs, we are progressing towards launching Phase 1 and Phase 2 clinical trials in 2022, including the Phase 2 trial for LP-300, The Harmonicä Clinical Trial, f...