Lantern Pharma Inc. (NASDAQ:LTRN) Q3 2023 Earnings Call Transcript

Moving on to RADR. We continue to advance the platform in size, scope and capabilities, and we believe it continues progressing towards becoming a potential standard for AI-driven drug development in oncology for both early-stage development and later-stage patient biomarker stratification and combination therapy identification. RADR has now surpassed 36 billion oncology-focused data points. We project to reach over $50 billion by the end of this year. And the scope of RADRs data has broadened the strategic focus on additional classes of compounds, including antibodies, checkpoint inhibitors and DNA damaging agents and also additional data from clinical studies such as from liquid biopsy and combination studies. So this data is really important because it helps us define drug interaction and optimal dosage.

And we think those are very important future modules for the platform. Now these data points and the associated advancements in automation on the platform, along with algorithms and code comprise a functional module and have advanced radars drug development capabilities. The key modules that are being advanced right now are for predicting patient response and identifying optimal combination regimens for immuno-oncology drugs such as immune checkpoint inhibitors, which compromise well close to $30-plus billion in sales and also then predicting the blood-brain barrier permeability of any molecule with 90 plus to 94% accuracy and doing that at a scale and speed that allows the analysis of tens of thousands of compounds a day. And we also are continuing to advance our ADC template or ADC module for generating drug conjugate templates for the next generation of ADCs. We expect to have additional data and perhaps post terms and papers out on the ADC module.

These 3 modules exemplify the type of rapid and meaningful progress. The RADR platform is expected to make by the end of this year and over the next several quarters. And we think these can become really a hallmark but almost a backbone for oncology drug development for many companies. And one of our primary focus during the second half of 2023 has been to further and accelerated the enrollment of the Harmonic trial and also position ourselves within the patient advocacy community to drive improved awareness and enrollment in our trials for LP-300, LP-184, LP-284. Now we’ve had several events in the second quarter with groups from GBM awareness, lung cancer advocacy, and these have generated interest in our trials and are generating an enthusiastic groundswell of interest in participating with our drugs at specific trial sites.

We also have an upcoming ATRT rally, where our Head of Clinical Development, will be speaking for an ultra-rare brain cancer, ATRT. And it’s a pediatric indication that we plan on pursuing through Starlight where our molecule is showing tremendous efficacy in preclinical models, specifically in ATRT since that was an insight driven from our AI platform, proven in the lab and now also allow us to gain a rare pediatric disease doctor. So 2023 is shaping into being a pivotal year where our insights are now entering into patients and have started their journey to becoming meaningful therapies in cancer. Our collective efforts and dedication and fostered a transformational shift for our company, setting us on an exciting trajectory towards the future where we are improving the lives of cancer patients with effective and affordable targeted treatment options.

In closing, I want to express my deep gratitude to our team, our partners and our stakeholders for their unwavering support. Together, we’re really lighting the way towards a brighter future in oncology and solving real-world problems with our proprietary AI platform that is enabling the rapid development of genomically targeted therapeutics, and these are the ones that will alter the cost and time lines in drug discovery and place us at the forefront of a new era in cancer therapy and cancer medicine. Now with that, I’d like to open up the call to some questions or clarifications, and I’ll take questions from our audience now.

A – Panna Sharma: Yes, we’ve got a couple of questions already teed up, which is great. We’ll go first question from John. This question I’ll repeat it. As you move past the Phase I trial for LP-184 do anticipate refining the indication what will guide efforts to narrow it down? Well, that’s a great question. We will be taking liquid biopsy from the patients in Phase I and obviously some other PK/PD data as well, and we think that will help us refine it. And since it is a basket trial, we do expect there to be a range of response and that also will help us guide. Is there a new higher levels of PTGR1 or is a bigger genomic signature for homologous repair deficiency or nucleotide excision deficiency, I mean a better response?

Are we getting a muted response in certain cancers versus a higher response than other. But you have the Phase I data, since it’s a basket design we allow all solid tumors that are refractory we’ll be obviously doing a lot of biomarker work on the – what’s called FFPE slides and also on liquid biopsy. So yes, this will be a very data-heavy even in Phase I. The second question, could you provide – I read the question came in. Could you provide guidance for when you expect to secure initial data from Harmonic Phase I studies for LP-184, 284? So just for clarification, Harmonic isn’t Phase II. We expect to have perhaps some initial data in the first half of next year. But we expect that once we reach what’s called 27 events, which we hope to reach by the end of next year, then we’ll be able to give some good data.