Lantern Pharma Inc. Q3 FY2023 earnings call

• Progress in clinical trials: LP-184 dosed in Phase I for recurrent advanced solid tumors, LP-284 launched in Phase I for recurrent non-Hodgkin’s lymphomas and sarcomas, LP-300 trial expanded into East Asian countries. • Development of Starlight Therapeutics: CNS and brain cancer focused subsidiary with plans to share data later in the year/early next year. • RADR AI platform advancements: Surpassed 36 billion oncology-focused data points, projected to reach over $50 billion by year-end, with expansion into additional compound classes and clinical study data. • Financials: Cash position of approximately $45 million as of September 30, 2023, with general and administrative expenses down slightly, R&D expenses up due to various factors, and net loss of $3.2 million.

No specific product segments with revenue contributions were detailed. The company focused on overall operations, including clinical trials of drug candidates (LP-184, LP-284, LP-300), development of the RADR AI platform, and progress with Starlight Therapeutics.

• Cash runway: Approximately $45 million in cash and cash equivalents provides runway into at least Q3 of 2025. • RADR data: Anticipated to double or more the data points in 2024, aiming for $100 billion+ by year-end. • Trial readouts: Expect initial data from LP-184 and LP-284 trials in Q2-Q3 2024, with ADC program data to be shared in January 2024 and IND application in early 2025 depending on manufacturing progress.

• Factors causing actual results to differ from forward-looking statements: Results of clinical trials, impact of competition. • Uncertainties: Clinical trial outcomes, adoption of AI and computational approaches by large pharma companies affecting market dynamics.

Q: As you move past the Phase I trial for LP-184, do you anticipate refining the indication what will guide efforts to narrow it down?

A: Panna Sharma: Will take liquid biopsy from patients in Phase I and PK/PD data to refine, with biomarker work on FFPE slides and liquid biopsy guiding narrowing down.

Q: Could you provide guidance for when you expect to secure initial data from Harmonic Phase I studies for LP-184, 284?

A: Panna Sharma: Expect initial data from LP-184 in first half of next year, LP-284 about a quarter behind, with potential readouts in Q2-Q3 2024.

Q: Can you please discuss the timing potential readouts for 184 and 284?

A: Panna Sharma: LP-184 designed in cohorts of 3, expecting signals in cohorts 3-5, with maximum tolerated dose seen in Q1-Q2 2024. LP-284 cohorts differ, with potential signals in Q2-Q3 2024.

Q: What are your expectations around the pace of RADAR data accumulation in 2024 as you look beyond the 50 billion data points anticipated by end of 2023?

A: Panna Sharma: Anticipate doubling or more the data points in 2024, aiming for $100 billion+ by year-end, with initiatives like engineered data sets and automated scraping to achieve this.