- Lantern Pharma completed enrollment in its LP-184 Phase 1a trial and is preparing Phase 1b/2 studies in cancers with large market potential.
- Early patient responses across LP-184, LP-284, and LP-300 trials highlight clinical activity in difficult-to-treat cancers.
- Intellectual property expanded with new European patent allowance for LP-284 and publication of blood-brain barrier prediction patent.
- Enhancements to RADR(R), the company’s AI platform, include public launch of predictBBB.ai(TM) and a new drug combination module.
- Lantern ended Q2 with $15.9 million in cash and expects its runway to extend into mid-2026.
- R&D expenses declined year-over-year, reflecting disciplined cost control while advancing multiple trials.
Lantern Pharma (NASDAQ: LTRN), a clinical-stage biotechnology company leveraging artificial intelligence and machine learning to redefine oncology drug development, reported second-quarter 2025 results while outlining clinical progress, intellectual property gains, and new developments in its RADR(R) artificial intelligence platform. The company continues to advance multiple oncology drug candidates aimed at high-value markets, supported by a balance sheet that management says provides funding into June 2026 (https://ibn.fm/xEtvR).
The company has finished enrolling 65 patients in its Phase 1a trial of LP-184, a synthetic acylfulvene drug candidate. The study established both the maximum tolerated dose and recommended Phase 2 dose, enabling planned Phase 1b/2 trials in recurrent triple negative breast cancer (“TNBC”) and recurrent bladder cancer.
LP-184 has already received Fast Track designations for glioblastoma and TNBC, along with several Rare Pediatric Disease designations. Preclinical work at Johns Hopkins supported the pediatric potential of LP-184 by showing extended survival in mouse models of atypical teratoid rhabdoid tumors. Lantern estimates that LP-184 could address a market worth between $10 and $12 billion annually if approved.
Lantern Pharma also noted that LP-284 produced a complete metabolic response in a 41-year-old patient with aggressive diffuse large B-cell lymphoma who had exhausted several prior treatment regimens including CAR-T therapy. These results support the company’s belief that LP-284 could play a role in treating refractory lymphomas, a market estimated at $4 billion annually.
During the quarter, Lantern reported individual patient responses that may bolster the clinical case for its pipeline. In the HARMONIC(TM) trial of LP-300 combined with chemotherapy, a 70-year-old non-smoker with advanced non-small cell lung cancer achieved a complete response after multiple prior therapies had failed. The trial has now completed enrollment in Japan, where never-smoker lung cancer has a relatively high prevalence. Further data from the HARMONIC(TM) trial are expected in September, particularly from the Asian expansion cohort in Japan and Taiwan.
Lantern strengthened its patent coverage during the quarter. The European Patent Office issued a notice of allowance for a composition of matter patent covering LP-284, adding to protection already secured in the U.S. and Japan. Additional applications are pending in several other regions.
Separately, the company announced the publication of an international patent application covering its machine learning solution for predicting blood-brain barrier permeability. The patent could extend protection for 20 years from filing if granted.
Lantern Pharma continues to build out its RADR(R) AI platform, which it positions as a tool for accelerating oncology drug discovery and development. Two notable modules were highlighted this quarter.
The first is predictBBB.ai(TM), launched publicly with accuracy metrics exceeding 90% in predicting whether small molecules can cross the blood-brain barrier. This has direct implications for central nervous system drug development, where very few compounds are successful.
The second is a drug combination prediction module that draws on peer-reviewed research and clinical trial data to forecast effective cancer therapy combinations. Initially, the focus will be on DNA damaging agents and DNA repair inhibitors, a segment where billions of dollars are invested annually.
Lantern has indicated that selected RADR(R) modules may be opened to the wider oncology research community, creating opportunities for collaboration and potential revenue diversification.
For the quarter ending June 30, Lantern reported cash, cash equivalents and marketable securities of $15.9 million. Management expects this to provide operating runway into at least mid-2026.
Research and development expenses fell to $3.1 million from $3.9 million a year earlier, while general and administrative expenses were $1.6 million. The company had 10.8 million shares outstanding at the end of the quarter, with no warrants issued.
CEO Panna Sharma said the combination of patient responses in clinical trials and enhancements to the AI platform marked an important stage in Lantern Pharma’s evolution. The company plans to continue advancing its trials while expanding RADR(R) into functional modules for broader use in oncology research.
“This quarter we observed complete responses in patients across two of our clinical trials, delivering meaningful patient benefit and providing further validation of both the mechanisms and therapeutic potential of our drug candidates,” said Sharma. “Simultaneously, our team is transforming our AI platform into functional, accessible modules for the broader oncology community. These parallel advances mark a pivotal inflection point in our clinical and technological evolution, reinforcing our fiscally disciplined, AI-driven approach to addressing critical unmet patient needs with a clear pathway to commercialization and value creation.”
For more information, visit the company’s website at www.LanternPharma.com.
NOTE TO INVESTORS: The latest news and updates relating to LTRN are available in the company’s newsroom at https://ibn.fm/LTRN
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