Lantern Pharma(LTRN) - 2025 Q3 - Quarterly Results

Clinical Trials and Drug Development - LP-184 Phase 1a clinical trial achieved a 48% clinical benefit rate in evaluable cancer patients at or above the therapeutic dose threshold, with marked tumor reductions in patients with specific DNA damage repair mutations[2] - The FDA Type C meeting provided regulatory guidance for Starlight Therapeutics' planned pediatric CNS cancer trial, confirming the combination strategy with spironolactone[8] - LP-300 Phase 2 HARMONIC™ trial is ongoing, evaluating the drug in combination with standard chemotherapy for NSCLC patients who have progressed after TKI therapy[10] - The Company plans to initiate a Pediatric CNS cancer trial in Q1 2026 and LP-184 Phase 1b/2 trials in TNBC and NSCLC, subject to funding[29] - Lantern Pharma's AI platform, RADR, utilizes over 200 billion oncology-focused data points to enhance drug discovery and development efficiency[30] - The Company will host a KOL scientific webinar on November 20, 2025, to discuss LP-184 Phase 1a results and clinical development strategy[29] Financial Performance - Lantern Pharma has approximately $12.4 million in cash, cash equivalents, and marketable securities as of September 30, 2025, down from approximately $24.0 million at the end of 2024, providing an operating runway into approximately Q3 2026[20] - R&D expenses decreased to approximately $2.4 million for Q3 2025, compared to approximately $3.7 million for Q3 2024, primarily due to reductions in research studies and materials[21] - General and Administrative expenses increased to approximately $1.9 million for Q3 2025, up from approximately $1.5 million for Q3 2024, driven by higher business development and investor relations expenditures[22] - Net loss for Q3 2025 was approximately $4.2 million (or $0.39 per share), compared to a net loss of approximately $4.5 million (or $0.42 per share) for Q3 2024[23] - Operating expenses for Q3 2025 totaled $4,349,800, a decrease from $5,179,576 in Q3 2024, indicating a 16% reduction year-over-year[40] - The net loss for Q3 2025 was $4,177,423, compared to a net loss of $4,505,697 in Q3 2024, showing a 7% improvement[40] - As of September 30, 2025, total current assets decreased to $13,461,005 from $25,247,629 as of December 31, 2024, reflecting a significant reduction[38] - The Company reported a cash and cash equivalents balance of $8,389,486 as of September 30, 2025, up from $7,511,079 at the end of 2024[38] - The weighted-average number of common shares outstanding for Q3 2025 was 10,833,393, slightly increasing from 10,763,351 in Q3 2024[40] Strategic Initiatives - The Company entered into an ATM Sales Agreement allowing the sale of up to $15,530,000 of common stock, with $989,061 raised from 212,444 shares sold in Q3 2025[25] - Lantern Pharma expects to scale up commercial efforts for its AI platform and prepare for potential capital formation activities to support clinical advancements in 2026[29] - The RADR AI platform demonstrated a 94.1% accuracy for blood-brain barrier permeability prediction, addressing a critical pharmaceutical challenge[18] - LP-284 has received multiple FDA Orphan Drug Designations, highlighting its potential in treating aggressive lymphomas[14] - The company is advancing development plans for LP-184 in high-value indications, with a combined market potential exceeding $7 billion annually[2]