Lantern Pharma(US:LTRN)2020-10-31 01:51Financial Data and Key Metrics Changes - As of September 30, 2020, the company reported working capital of approximately $21.7 million, primarily driven by the net proceeds of its IPO that closed on June 15, 2020 [30] - For Q3 2020, the company reported a net loss of $1.7 million compared to a net loss of $669,652 in Q3 2019 [31] - General and administrative expenses increased by 149% to $1,100,719 from $441,251 in Q3 2019, primarily due to increases in labor, business development, and corporate insurance expenses [31] - Research and development expenses increased by 163% to $600,769 from $228,401 in Q3 2019, driven by higher research study expenses and employee-related costs [32] - The company had nine full-time employees, two part-time employees, and four consultants as of the end of the quarter [33] Business Line Data and Key Metrics Changes - The company achieved a significant milestone by surpassing 1.1 billion data points in its RADR AI platform, with expectations to reach 3 billion by the end of 2021 [11][12] - The RADR platform's growing datasets are essential for streamlining drug development and identifying mechanisms driving drug activity and patient types that will benefit from targeted therapies [14] Market Data and Key Metrics Changes - The company entered into collaborations with Fox Chase Cancer Center for pancreatic cancer and Georgetown University for prostate cancer, focusing on the development of LP-184 [18][21] - The collaborations aim to develop robust gene signatures for clinical trials, potentially providing personalized therapy options for patients [21] Company Strategy and Development Direction - The company aims to establish itself as a leading AI-driven drug discovery and development franchise focused on oncology, leveraging large-scale data analytics to uncover new opportunities and enhance drug development efficiency [39][40] - The strategy includes rescuing previously deprioritized therapeutic candidates and developing new biomarker-guided drug candidates, with a goal of adding one new program every 12 to 18 months [40][26] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of the growing RADR platform and its potential to drive insights and accelerate drug development, particularly in the context of the ongoing advancements in AI and data analytics [15][41] - The company is focused on achieving existing milestones and advancing its programs into clinical trials to make a meaningful impact on cancer patients [40] Other Important Information - The company plans to continue building a portfolio of high-value small molecule oncology drug candidates and is focused on partnerships with larger biotech and pharmaceutical companies for pivotal registration-directed trials [38][41] Q&A Session Summary Question: How should we think about the incremental benefit of additional data points when you're already over 1 billion? - Management indicated that more data points enhance the precision of drug response signatures and allow for better understanding of tumor biology, which can lead to significant cost savings in drug development [46][47][48] Question: How should we think about the burn rate going forward and potential headcount changes? - Management expects R&D expenses to increase as they progress towards clinical trials, with selective growth in headcount primarily in data science and biology [52][53] Question: What proportion of new data points is attributed to refining current programs versus looking at new candidates? - The majority of the new data points are focused on new categories, with significant enrichment in cancers where the company is already developing programs [57] Question: How has RADR helped refine the way the company looks at data and evolves curation? - Management noted improvements in data tagging and automation processes, which enhance the ability to analyze and utilize data effectively [59][61]