Release Date: November 07, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Lantern Pharma Inc (LTRN, Financial) has made significant clinical progress with its AI-guided drug programs, including the ongoing Phase 2 HARMONIC trial and Phase 1 programs for LP-184 and LP-284.
- The company received FDA Fast Track designation for LP-184 in glioblastoma, highlighting the potential to expedite development and enhance commercial value.
- Lantern Pharma Inc (LTRN) is expanding its HARMONIC trial into Asia, specifically Japan and Taiwan, to address a larger portion of never smoker lung cancer cases.
- The company has secured three new FDA rare pediatric designations for LP-184, which could lead to valuable priority review vouchers upon FDA approval.
- Lantern Pharma Inc (LTRN) closed the quarter with approximately $28.1 million in cash, providing a cash runway into at least late 2025.
Negative Points
- Lantern Pharma Inc (LTRN) reported a net loss of approximately $4.5 million for the third quarter of 2024, an increase from the previous year's third quarter loss.
- R&D expenses increased significantly to approximately $3.7 million, driven by heightened clinical trial activity.
- The company faces risks and uncertainties related to forward-looking statements, including clinical trial results and competition impact.
- General and administrative expenses rose to approximately $1.5 million, primarily due to increased professional and legal fees.
- Lantern Pharma Inc (LTRN) is still in early discussions for potential partnerships, particularly for its never smoker trial in Asia, indicating a lack of immediate partnership agreements.
Q & A Highlights
Q: When do you expect additional data regarding the HARMONIC and LP-300 trial?
A: As we have just opened sites in Asia, our goal is to gather another 14 to 28 patients actively. We will know more once we see the impact of the trial expansion in Asia and the data from the planned interim analysis at 31 patients. We expect the next big clinical readout around mid-next year, if not earlier. - Panna Sharma, CEO
Q: Are there any updates on how RADR is growing and collaboration efforts?
A: We announced a collaboration with Oregon Therapeutics last quarter, which is progressing well. We expect to finalize the first phase by the end of the year. We are also focusing on larger biotech companies for future collaborations, given the platform's maturity over the last 1.5 years. - Panna Sharma, CEO
Q: Can you speak to any partnership interest for the never smoker trial?
A: While it's early, we have started conversations with larger pharma companies in Japan, given the prevalence of non-small cell lung cancer among never smokers in East Asia. We are also exploring a biomarker signature correlating to lower intermediate tumor mutation burden, which could attract interest. - Panna Sharma, CEO
Q: What is the significance of the new scientific advisory board members for Starlight Therapeutics?
A: The addition of Dr. DeAngelis, Berger, Laterra, and Grossman to the Scientific and Clinical Advisory Board is significant. Their expertise in neuro-oncology validates our CNS cancer program and the potential of our novel site-activated alkylating agent for brain cancer patients. - Panna Sharma, CEO
Q: How is Lantern Pharma managing its financial position and operations?
A: Lantern closed the quarter with approximately $28.1 million in cash, cash equivalents, and marketable securities. We anticipate this balance will provide a cash runway into at least late 2025. Our focus remains on advancing our product candidates and pipeline efficiently. - David Margrave, CFO
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
