Lantern Pharma Inc. (NASDAQ:LTRN) Q3 2023 Earnings Call Transcript
Lantern Pharma Inc. (NASDAQ:LTRN) Q3 2023 Earnings Call Transcript November 9, 2023
Operator: Good afternoon, and welcome to our Third Quarter 2023 Earnings Call. As a reminder, this call is being recorded and all attendees are in a listen-only mode. We will open the call for questions and answers after our management’s presentation. 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 company for the third quarter ended September 30, 2023. 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 those indicated by forward-looking statements, including results of clinical trials and the impact of competition. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements can be found in our annual report on Form 10-K for the year ended December 31, 2022, which is on file with the SEC and available on our website. Forward-looking statements made on this conference call are as of today, November 8, 2023, and Lantern Pharma does not intend to update any of these forward-looking statements to reflect events from circumstances that occur after today, unless required by law.
The webcast replay of the conference call and webinar will be available on Lantern’s website. On today’s webcast, we have Lantern Pharma’s CEO, Panna Sharma; and CFO, David Margrave, Panna will start things off with an overview of Lantern’s strategy and business model and highlight recent achievements in our operations, after which David will discuss our financial results. This will be followed by some concluding comments from Panna, and then we’ll open the call for Q&A. I’d now like to turn the call over to Panna Sharma, President and CEO of Lantern Pharma. Panna, please go ahead.
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Panna Sharma: Thank you. Hello, everyone, and thank you for joining us this afternoon to hear about our third quarter results and corporate progress. We made significant strides over this past quarter and executing our mission of transforming the oncology drug discovery and development process, especially now that we have all of our clinical stage drug candidates in human clinical trials that are active, two that are in Phase 1 now and one that is in Phase II. We also continue to make significant progress in the launch of our CNS and brain cancer focused subsidiary, Starlight Therapeutics and in developing the next major leg of our discovery and development efforts, which will be focused on drug conjugates, including antibody drug conjugates.
Our team and many clinicians are particularly excited about the interesting first-in-human drug candidates, LP-184 and LP-284. Both of these candidates share a mechanism called synthetic lethality. During Q2, I was able to share the news that we launched LP-184 into a Phase I clinical trial for recurrent advanced solid tumors, especially those that are refractory to current standard of care therapies. This area is an area of especially critical need. During Q3, we launched the sister drug candidate, LP-284, into a clinical trial for recurrent non-Hodgkin’s lymphomas and also sarcomas. We also dosed the initial patient for LP-184 this quarter. Additionally, we continue to enhance and develop our AI platform, RADR. Our AI platform is revolutionizing the way we model, predict and understand drug cancer interactions, enabling us to advance our newly developed drug programs from initial insights, the first in human clinical trials and an average of less than 2.5 years, and it cost of under $2 million per program.
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