Full Press Release Details
Pharma Reports Fourth Quarter and Fiscal Year 2021 Financial Results and Operational Highlights
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.
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."
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 Harmonic Clinical Trial, for advanced non-small cell lung cancer in never smokers. Our dedicated
team is focused on completing the requirements and details to launch these trials including IND-enabling studies and submissions, clinical
site selections, and patient enrollment," stated Sharma.
Platform Growth and Development
Portfolio of Targeted Therapies
Pharma is currently developing four drug candidates and an Antibody-Drug Conjugate (ADC) program across eight disclosed tumor targets,
and several undisclosed targets. Lantern's portfolio currently includes:
FDA granted LP-184 Orphan Drug Designations for the treatment of pancreatic cancer, GBM, and ATRT and a Rare Pediatric Disease Designation
for treatment of ATRT. These designations will assist the advancement of LP-184 towards clinical studies. Under the Rare Pediatric Disease
Priority Review Voucher Program companies may be eligible to receive a priority review voucher if the product satisfies certain conditions,
including receipt of regulatory marketing approval following required clinical testing. Vouchers may be sold or transferred to another
sponsor, and past transfers of vouchers have occurred at average prices of more than $100 million.
Scientific Collaborations
Quarter and 2021 Financial Overview:
2022 we expect to reach over 25 billion data points and also grow the methods and algorithms powering the analysis and insights of our
RADR platform. Our team has been developing machine learning modules and algorithms that enable a wide range of analysis,
correlations and predictions that are central to cancer drug development," added Sharma. "These additions to our platform
are cornerstone to the advancement of our programs, and we believe this will be clearly demonstrated this year as we launch multiple
clinical trials, report new data, and expand our collaborations."
team will continue to advance our portfolio and our platform along with the development of new drug programs which we will be able to
accomplish through our significant cash position, our focused strategy of collaborations and our data-driven drug development model.
We are looking forward to a year of significant value creation for cancer patients and investors alike as we transform and accelerate
the drug development process in oncology."
Call and Webinar Details
will host its fourth quarter and fiscal year 2021 earnings call and webinar today, Thursday, March 10 at 4:30 p.m. ET.
Investor Relations Contact
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 eight 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.
find more information at:
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.