Q2 2024 Lantern Pharma Inc Earnings Call Transcript
Key Points
- Lantern Pharma Inc (LTRN) 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.
- 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.
Good afternoon and welcome to our second-quarter 2024 earnings call. As a reminder, this call is being recorded. (Operator Instructions)
A webcast replay of today's conference call will be available on our website at lanternpharma.com shortly after the call. We issued a press release after market close today, summarizing our financial results and progress across the companyr for the second quarter ended June 30, 2024. A copy of this release is available through our website at lanternpharma.com, where you will also find a link to the slides management will be referencing on today's call.
We would like to remind everyone that remarks about future expectations, performance, estimates, and prospects constitute forward-looking statements for purposes of Safe Harbor provisions under the Private Securities Litigation Reform Act of 1995. Lantern Pharma cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those anticipated.
A number of factors could cause actual results to differ materially from
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