Lantern Pharma(US:LTRN)2021-05-04 05:45Financial Data and Key Metrics Changes - For Q1 2021, the company reported a net loss of approximately $2.45 million or $0.24 per share, compared to a net loss of approximately $477,000 or $0.24 per share for Q1 2020 [51] - Research and development expenses increased to approximately $1.3 million in Q1 2021 from $137,000 in Q1 2020, primarily due to increased research studies and team expansion [52] - General and administrative expenses rose to approximately $1.2 million in Q1 2021 from approximately $340,000 in Q1 2020, attributed to costs associated with operating as a public company [53] - The cash position as of March 31, 2021, was $81.4 million, bolstered by a $69 million follow-on public offering in January, extending the cash runway through mid-2025 [56] Business Line Data and Key Metrics Changes - The RADR AI platform surpassed 4.6 billion data points by the end of April 2021, representing a 16-fold increase since May 2020 and nearly four-fold growth since the beginning of 2021 [11][17] - The company initiated pre-clinical development of LP-284, a new molecule targeting hematologic cancers, which has shown exceptional sensitivity [12] Market Data and Key Metrics Changes - The LP-300 drug candidate targets a growing but unaddressed type of non-small cell lung cancer among non-smokers, which accounts for approximately 20% of new non-small cell lung cancer cases globally, with an estimated annual spending of $2.5 billion on therapies for this patient population [29] Company Strategy and Development Direction - The company aims to leverage its RADR AI platform to transform oncology drug development by reducing the pace, cost, and risk associated with bringing therapies to market [9][23] - The collaboration with Actuate Therapeutics is expected to enhance the development of their drug candidate using the RADR platform, potentially generating novel intellectual property [21][22] - The company is focused on expanding its pipeline of oncology drug candidates, including the development of an antibody drug conjugate program expected to enter clinical trials in 2022 [65] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in entering a new era of drug discovery, emphasizing the importance of AI and data-driven approaches in accelerating drug development [24][66] - The company anticipates significant opportunities for R&D collaborations and aims to establish itself as a leader in AI-driven oncology drug discovery [68][69] Other Important Information - The company has filed over 10 patent applications to strengthen its intellectual property portfolio, covering various aspects of its RADR platform and drug candidates [13] - The company has a disciplined approach to acquiring new drug assets, utilizing an internal database to evaluate oncology trials and prioritize potential candidates [94][95] Q&A Session Summary Question: What is behind the exponential growth of data points? - The growth is attributed to team expansion, improved resources, and a focus on automation to enhance data collection and management [75][76] Question: Can you clarify the relationship between LP-184 and LP-284? - LP-284 is a stereoisomer of LP-184, with distinct properties and potential effectiveness in hematologic cancers [78][79] Question: What is the cash position and appetite for acquisitions? - The company has $81.4 million in cash, with plans to grow R&D expenses while remaining open to acquiring new candidates [91][92] Question: Can you provide details on the LP-300 trial and potential partnerships? - The LP-300 trial will focus on never smoker lung adenocarcinoma patients, with plans to explore partnerships with larger pharmaceutical companies as the trial progresses [99][101] Question: Will there be cash milestones or royalty payments from collaborations? - The company plans to focus on developing high-value oncology therapies with partners, potentially involving equity or deferred cash based on success [113][115]