Full Press Release Details
Lantern Pharma Reports
First Quarter 2022 Financial Results and Operational Highlights
/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 first quarter ended March 31, 2022.
a very exciting inflection point as we continue to make significant and meaningful progress in translating key insights generated by our
A.I. platform into preclinical and clinical programs," stated Panna Sharma, President and CEO of Lantern Pharma. "Our proprietary
RADR A.I. platform recently surpassed 20 billion data points and is on a solid trajectory to surpass our year-end goal
of 25 billion data points. This accelerates our ability to generate new insights to further power our development decisions for our drug
candidates, as well as drug candidates from our biopharma collaborators."
an amendment to the IND application for the planned Phase 2 trial for LP-300, the HARMONIC clinical trial, was submitted to the
FDA. The Harmonic trial is focused on never-smokers with non-small cell lung cancer (NSCLC) and is expected to begin enrolling
patients in the second half of this year. Additionally, we remain on track to launch up to two Phase 1 trials for LP-184 in cancers with
significant clinical need. We also anticipate reporting data from multiple preclinical programs this year, including programs focused
on pediatric cancers and those that exploit the synthetic lethality potential of our compounds." continued Sharma.
Operational Highlights:
Platform Growth and Development
of Targeted Therapies
Lantern Pharma is currently
developing four drug candidates and an Antibody-Drug Conjugate (ADC) program across nine disclosed tumor targets, and several undisclosed
targets. Lantern's portfolio currently includes:
data demonstrating synergy between LP-100 and PARP inhibitors, we are currently investigating the potential of combination therapy for
studies for LP-184 are in progress and are anticipated to be completed by Q3 2022. Based on current timeline projections, the Company
is targeting to file the LP-184 IND submission with the FDA in Q3 and should be in a position to initiate in-human Phase 1 clinical testing
before the end of 2022.
data supporting the efficacy of LP-184 in brain mets in a poster at the American Association for Cancer Research (AACR) 2022 annual meeting.
The poster highlighted the in vitro anti-tumor activity of LP-184 in brain mets cell models from lung, skin, and breast cancers. In the
US, brain mets occur in around 10-30% of all cancer cases and are diagnosed in well over 100,000 patients each year.
urgent and unmet clinical need for new therapies for brain mets due to a current lack of novel agents that can cross the blood brain barrier
(BBB). LP-184's favorable BBB permeability, paired with its observed preclinical efficacy in certain CNS cancers, underscore its potential
to become a vital treatment option for patients relapsed from current standard of care treatment or for use in combination with other
Establishment of Australian
Scientific Collaborations
Additional Financial
Board Member for Election and Annual Meeting of Stockholders
we expect to bring multiple assets into focused clinical trials where there is demonstrated clinical need, while remaining focused on
capital efficiency. Additionally, our A.I. platform, RADR , will continue to grow significantly across all measures - data,
analytical rigor, generation of new publishable insights, and new functionality. As data and A.I. continue to drive changes in the cost,
speed and efficiency of drug discovery and development, our team at Lantern will remain at the forefront of transforming oncology therapeutic
Lantern will host its
first quarter fiscal year 2022 earnings call and webinar today, Tuesday, May 3 at 4:30 p.m. ET.
Investor Relations Associate
About Lantern Pharma
Lantern Pharma (NASDAQ:
LTRN) is a clinical-stage oncology-focused biopharmaceutical company leveraging its proprietary RADR A.I. and machine
learning platform to discover biomarker signatures that identify patients most likely to respond to its pipeline of genomically targeted
therapeutics. Lantern is currently developing four drug candidates and an ADC program across nine disclosed tumor targets, including two
phase 2 programs. By targeting drugs to patients whose genomic profile identifies them as having the highest probability of benefiting
from the drug, Lantern's approach represents the potential to deliver best-in-class outcomes.
Please find more information
Website: www.lanternpharma.com
Twitter: @lanternpharma
Forward-looking Statements
This press release contains
forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. These forward-looking statements include, among other things, statements relating to: future events
or our future financial performance; the potential advantages of our RADR platform in identifying drug candidates and
patient populations that are likely to respond to a drug candidate; our strategic plans to advance the development of our drug candidates
and antibody drug conjugate (ADC) development program; estimates regarding the development timing for our drug candidates and ADC development
program; our research and development efforts of our internal drug discovery programs and the utilization of our RADR
platform to streamline the drug development process; our intention to leverage artificial intelligence, machine learning and genomic data
to streamline and transform the pace, risk and cost of oncology drug discovery and development and to identify patient populations that
would likely respond to a drug candidate; estimates regarding potential markets and potential market sizes; sales estimates for our drug
candidates and our plans to discover and develop drug candidates and to maximize their commercial potential by advancing such drug candidates
ourselves or in collaboration with others. Any statements that are not statements of historical fact (including, without limitation, statements
that use words such as "anticipate," "believe," "contemplate," "could," "estimate,"
"expect," "intend," "seek," "may," "might," "plan," "potential,"
"predict," "project," "target," "objective," "aim," "upcoming," "should,"
"will," "would," or the negative of these words or other similar expressions) should be considered forward-looking
statements. There are a number of important factors that could cause our actual results to differ materially from those indicated by the
forward-looking statements, such as (i) the impact of the COVID-19 pandemic, (ii) the risk that our research and the research of our collaborators
may not be successful, (iii) the risk that none of our product candidates has received FDA marketing approval, and we may not be able
to successfully initiate, conduct, or conclude clinical testing for or obtain marketing approval for our product candidates, (iv) the
risk that no drug product based on our proprietary RADR A.I. platform has received FDA marketing approval or otherwise
been incorporated into a commercial product, and (v) those other factors set forth in the Risk Factors section in our Annual Report on
Form 10-K for the year ended December 31, 2021, filed with the Securities and Exchange Commission on March 10, 2022. You may access our
Annual Report on Form 10-K for the year ended December 31, 2021 under the investor SEC filings tab of our website at www.lanternpharma.com
or on the SEC's website at www.sec.gov. Given these risks and uncertainties, we can give no assurances that our forward-looking statements
will prove to be accurate, or that any other results or events projected or contemplated by our forward-looking statements will in fact
occur, and we caution investors not to place undue reliance on these statements. All forward-looking statements in this press release
represent our judgment as of the date hereof, and, except as otherwise required by law, we disclaim any obligation to update any forward-looking
statements to conform the statement to actual results or changes in our expectations.