Release Date: August 08, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Lantern Pharma Inc (LTRN, Financial) reported a preliminary 86% clinical benefit rate in the Phase 2 Harmonic clinical trial, indicating promising efficacy.
- The company has not observed any dose-limiting toxicities in its ongoing Phase 1a trials for LP-184 and LP-284, suggesting a favorable safety profile.
- Lantern Pharma Inc (LTRN) has a strong cash position with approximately $33.3 million, providing a cash runway into at least Q3 of 2025.
- The RADR AI platform is at the forefront of cancer drug development, facilitating rapid and efficient drug development and offering potential for collaborations.
- Lantern Pharma Inc (LTRN) has expanded its intellectual property portfolio with a new patent in Japan for LP-284, enhancing its global IP position.
Negative Points
- Lantern Pharma Inc (LTRN) reported a net loss of approximately $4.96 million for the second quarter of 2024, slightly higher than the previous year.
- R&D expenses increased to approximately $3.9 million, driven by heightened clinical trial activity, impacting overall financial performance.
- The company faces competition and risks associated with clinical trial results, which could affect future outcomes and projections.
- The Harmonic trial's initial results are based on a small patient cohort, necessitating further data to confirm efficacy and safety.
- Lantern Pharma Inc (LTRN) is still in early stages with some collaborations, such as with Oregon Therapeutics, which may take time to yield tangible results.
Q & A Highlights
Q: What kind of threshold are you looking for to show that LP-300 merits a breakthrough candidacy status?
A: If we see the current trajectory in the next 12 to 20 patients plus some durability data, that would give us comfort. We'd love to see 21 patients, and if 14 out of 21 show positive results, it would be exciting. The overall clinical benefit rate of 86% is largely unheard of in this group, so we want to ensure it's durable.
Q: How does the safety profile of LP-300 compare to other NSCLC populations using EGFR TKIs and checkpoint inhibitors?
A: It's unheard of for patients to go 9 to 10 weeks of treatment without dose interruption or discontinuation. In current trials, up to 80% of patients discontinue due to toxicities. Presenting preliminary safety data with no new toxicity was exciting, as none of the patients required dose discontinuation.
Q: How will you determine if collaborations with Oregon Therapeutics, Actuate, and TTC are successful?
A: Each collaboration is unique. Success is determined by whether we can help them see and do things they couldn't otherwise. For example, Actuate's focus on understanding patient profiles has been beneficial. Oregon is new, but we have clear milestones for developing collaborative IP.
Q: Was the response from the patient with RET mutations a surprise based on preclinical data?
A: It wasn't a surprise. LP-300 binds to cystine residues of different tyrosine kinase receptors, including RET. The protocol is designed to capture any driver mutations in never smokers, making this response encouraging.
Q: Are you open to small pharma partnership opportunities?
A: Yes, absolutely. Being a small pharma ourselves, we are always looking for partnership opportunities. We welcome inquiries and will respond quickly.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
