Lantern Pharma(US:LTRN)2025-11-13 15:02Financial Data and Key Metrics Changes - R&D expenses decreased to approximately $2.4 million in Q3 2025 from $3.7 million in Q3 2024, primarily due to reductions in clinical trial support and consulting expenses [38] - General and administrative expenses increased to approximately $1.9 million in Q3 2025 from $1.5 million in the prior year, attributed to higher business development and investor relations costs [38] - The 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 in Q3 2024 [39] Business Line Data and Key Metrics Changes - The LP-184 phase I-A clinical trial achieved a 48% clinical benefit rate in evaluable cancer patients, validating the AI-driven precision medicine approach [5][10] - The LP-300 Harmonic trial showed an 86% clinical benefit rate in preliminary data, with one patient demonstrating a durable complete response for nearly two years [21] - The LP-284 program for recurrent non-Hodgkin's lymphoma generated interest from biopharma companies, showcasing a complete metabolic response in a heavily pretreated patient [23] Market Data and Key Metrics Changes - The combined annual market potential for the targeted indications of LP-184 exceeds $7 billion, focusing on triple-negative breast cancer, non-small cell lung cancer, bladder cancer, and recurrent GBM [17] - The market opportunity for the LP-300 trial in never-smokers with lung cancer is approaching $4 billion annually, with no current approved therapies for this demographic [19] - The LP-284 program has a global market opportunity of about $3 billion, targeting aggressive recurrent non-Hodgkin's lymphoma [22] Company Strategy and Development Direction - The company is focused on integrating AI and machine learning into drug discovery and development, positioning itself as a leader in precision oncology [4] - The RADR AI platform is being commercialized, with eight distinct AI-powered modules developed to address critical pain points in oncology drug development [27] - The introduction of the Zeta platform aims to streamline rare cancer research and drug development, enhancing the efficiency of identifying treatment options [30][34] Management's Comments on Operating Environment and Future Outlook - Management highlighted the transformative nature of the past quarter, achieving significant clinical, regulatory, and validation milestones [5] - The company expects to continue advancing its clinical assets while scaling its AI platform for commercial deployment, emphasizing a dual engine strategy [43] - Management expressed confidence in the potential of their AI tools and services, projecting significant standalone market potential in the future [36] Other Important Information - The company had approximately $12.4 million in cash, cash equivalents, and marketable securities as of September 30, 2025, providing a runway into Q3 2026 [39] - The company entered into an ATM sales agreement to offer and sell up to $15.53 million of its common stock, raising approximately $989,000 during Q3 2025 [40] Q&A Session Summary Question: What is the status of the interim event analysis for the LP-300 trial? - Management indicated that they do not believe they will reach the 31 events required for the analysis by December, which is positive as it suggests patients are remaining on the trial longer [45] Question: What is the timeline for the Denmark trial? - The Denmark trial has been approved, and management expects it to start in late December or early January [45] Question: What is the status of the IND submission for the pediatric CNS program? - Management confirmed that they are prepared to submit the IND for the pediatric CNS program in the coming weeks [46] Question: What can be expected from the Zeta platform? - Management mentioned that Zeta will be rolled out in phases, with early demos available to collaborators and partners, and broader rollout expected in Q1 2026 [46] Question: How will the indications for LP-184 be prioritized? - Management plans to evaluate which indications yield the biggest impact and move those into larger scale trials, ideally with partners [47]