Release Date: March 27, 2025
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 progress in its clinical pipeline and AI platform, with three AI-driven drugs advancing into clinical trials at a rapid pace and lower cost.
- The company's LP 300 drug has shown promising preliminary results in the harmonic trial, achieving an 86% clinical benefit rate and a 43% objective response rate in never smoker non-small cell lung cancer patients.
- Lantern Pharma Inc (LTRN) received two FDA fast track designations for LP 184 in glioblastoma and triple negative breast cancer, indicating regulatory validation and potential for expedited clinical development.
- The company's AI platform, RADar, has expanded to over 100 billion oncology-specific data points, enhancing its ability to identify non-obvious relationships and potential combination strategies.
- Lantern Pharma Inc (LTRN) has a strong cash position with $24 million in cash equivalents and marketable securities, providing a runway to fund operations for at least 12 months.
Negative Points
- Lantern Pharma Inc (LTRN) reported a net loss of approximately $20.8 million for the full year 2024, an increase from the previous year's loss of $16 million.
- The company anticipates needing substantial additional funding in the near future to continue its operations and development programs.
- R&D expenses increased significantly, from $11.9 million in 2023 to $16.1 million in 2024, primarily due to research studies and clinical trial support.
- The enrollment in clinical trials has been slower than expected, with dose levels for LP 184 reaching higher than anticipated, extending the timeline for results.
- Lantern Pharma Inc (LTRN) faces challenges in securing partnerships and collaborations, as potential deals often break down over financial and resource allocation issues.
Q & A Highlights
Q: How is the pace and quality of enrollment in Asia compared to the US?
A: The pace of enrollment in Asia is about 2 to 4 times faster than in the US. The sites in Asia ramped up faster, and in the past few months, the output from Asia has matched that of the US, with a much quicker timeline from onboarding to first patient. This trend is expected to continue, potentially reaching 3 to 4 times faster enrollment this year due to the Asian sites. - Panna Sharma, CEO
Q: What are the opportunities for ADCs that substitute the toxic payload with another immunotherapy?
A: Substituting the toxic payload with another immunotherapy, such as an immunomodulating agent, is possible and is an area of interest. There is potential for innovation in designing multi-payload ADCs, which could include both immunomodulating and toxic payloads. However, testing these complex architectures, especially in non-human primates, remains a challenge. This area is well-suited for AI-driven precision biology and data collection. - Panna Sharma, CEO
Q: Can you provide an update on the harmonic trial data expected later this year?
A: We have enrolled a significant number of patients in Asia and the US, and we continue to see positive clinical benefit trends. We expect to have a mid to late Q2 readout, with a key update at 30 events, likely closer to the end of the year. This will help decide whether to proceed to a larger trial and potentially partner the asset. - Panna Sharma, CEO
Q: What should we look for next in your ADC programs?
A: We have exciting pre-clinical data, particularly in HER2 low and medium expressing cancers, showing higher potency than existing FDA-approved agents. We are also working on new payloads that are significantly more potent. Expect more pre-clinical data and announcements of partnerships using our ADC AI platform as an analytical tool. - Panna Sharma, CEO
Q: Why was the LP 184 data delayed, and when can we expect results?
A: The delay was due to higher dose levels being reached in the trial, which extended the timeline. We are now in cohort 11 or 12, with each cohort taking about a month. We have not seen significant adverse events and are beginning to see therapeutic levels of efficacy. Results are expected once these higher dose levels are fully evaluated. - Panna Sharma, CEO
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
