DALLAS - Lantern Pharma Inc. (NASDAQ: LTRN), a biopharmaceutical company leveraging artificial intelligence (AI) in cancer drug development, has received regulatory clearance to conduct Phase 2 clinical trials of its drug LP-300 in Japan and Taiwan.
The study, named the Harmonic™ trial, focuses on treating non-small cell lung cancer (NSCLC) in never-smokers, a patient group that constitutes about a third of all lung cancer cases in East Asia.
The Harmonic™ trial (NCT05456256) is designed to assess LP-300 in combination with standard chemotherapy and involves 90 patients, with two-thirds receiving LP-300 alongside chemotherapy and the remaining third receiving only chemotherapy. In prior trials, LP-300 showed promising results, with increased overall and two-year survival rates in never-smoker NSCLC patients.
Dr. Yashushi Goto of the National Cancer Center of Japan will lead the trial in Japan, where the incidence of NSCLC in never-smokers is notably higher than in the United States. Dr. Goto expressed optimism about LP-300's potential, especially for patients with advanced NSCLC and driver mutations such as EGFR, ALK, ROS1, and MET, who have limited treatment options after progressing on targeted therapies.
Lantern Pharma's LP-300 has been well-tolerated in over 1,000 individuals across multiple clinical trials. The therapeutic is intended to interact with Tyrosine Kinase gene pathways, which are often altered in lung cancer among never-smokers, to inhibit tumor growth.
This development could potentially expedite data collection for further evaluation of LP-300 and provide a new therapeutic option for LCINS patients in Japan and Taiwan. Lantern Pharma also sees this as an opportunity to establish partnerships with biopharma companies focused on the Asian market.
The company's AI-driven approach aims to transform the pace and cost of oncology drug discovery and development, with their RADR® AI platform analyzing billions of data points to streamline the drug development process.
This news article is based on a press release statement from Lantern Pharma Inc.
InvestingPro Insights
As Lantern Pharma Inc. (NASDAQ: LTRN) advances its clinical trials in East Asia, investors are closely monitoring the company's financial health and stock performance. According to InvestingPro data, Lantern Pharma holds a market capitalization of $57.36 million, with a Price to Book ratio for the last twelve months as of Q4 2023 at 1.4. The company's stock has experienced significant volatility, with a 94.89% price increase over the last six months, yet a steep 49.86% decline over the past month.
Two notable InvestingPro Tips for Lantern Pharma are its position of holding more cash than debt on its balance sheet, which could provide some financial stability, and the fact that liquid assets exceed short-term obligations, suggesting the company has the liquidity to meet its short-term financial commitments. Still, concerns arise as analysts do not anticipate the company will be profitable this year, and the net income is expected to drop.
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The company's next earnings date is set for April 30, 2024, which will be a critical event for investors to gauge the company's progress and financial trajectory. With the InvestingPro Fair Value estimated at $8.2 USD, significantly higher than the previous close price of $5.77 USD, there could be potential for upside according to some analysts' perspectives.
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