Business
Lantern Pharma Reports Second Quarter 2023 Financial Results and Operational Highlights
Obtained FDA clearance of the IND application for LP-184 and activated initial clinical sites for the Phase 1 basket trial in relapsed/refractory advanced
About this update from Lantern Pharma Inc.
[{"type":"text","content":"\n\nObtained FDA clearance of the IND application for LP-184 and activated initial clinical sites for the Phase 1 basket trial in relapsed/refractory advanced solid tumors and brain cancers - a patient population with unmet clinical needs.\n\n\n\n\nCompleted IND-enabling studies for LP-284 and anticipate IND submission in August; first-in-human Phase 1 clinical trial targeted for Q4 in advanced non-Hodgkin’s lymphomas.\n\n\n\n\nDosed initial patients in the Phase 2 Harmonic™ clinical trial for never smokers with NSCLC, who make up 15-20% of all lung cancer cases; continued expansion of additional clinical trial sites in the US and increased patient recruitment activity.\n\n\n\n\nInitiated RADR® collaboration with Bielefeld University to design and develop breakthrough antibody drug conjugates (ADCs) with greater precision and efficacy.\n\n\n\n\nReceived US Patent & Trademark Office notice of allowance for composition of matter patent for LP-284, extending commercial protection into early 2039.\n\n\n\n\n$48.0 million in cash, cash equivalents, and marketable securities as of June 30, 2023, providing a cash runway into 2025.\n\n\n\n\nConference call and webcast is scheduled for today at 4:30 p.m. ET / 1:30 p.m. PT.\n\n\n\n DALLAS--(BUSINESS WIRE)--\nLantern Pharma Inc. (NASDAQ: LTRN), an artificial intelligence (“AI”) company developing targeted and transformative cancer therapies using its proprietary RADR® AI and machine learning (“ML”) platform with multiple clinical-stage drug programs, today announced operational highlights and financial results for the second quarter ended June 30, 2023.\n\n\n\"We made significant strides over the past quarter in executing our mission of transforming the oncology drug discovery and development process, especially with advancing our programs for LP-184 and LP-284 into the clinical setting and increasing our focus on developing next-generation ADCs. Our RADR® AI platform is revolutionizing the way we understand and predict drug-cancer interactions, enabling us to advance our newly developed drug programs from initial AI insights to first-in-human clinical trials in an average of two years and at a cost of roughly $1-2 million per program - a milestone unheard of in the realm of oncology drug discovery,\" said Panna Sharma, CEO of Lantern Pharma.\n\n\nSharma continued, \"Computational and AI-dr...