Lantern Pharma Inc. (NASDAQ: LTRN) has announced promising clinical updates and financial results for the third quarter of 2024. The company's LP-300 Harmonic™ Trial has shown an 86% clinical benefit rate in initial patients and has expanded to Japan and Taiwan. Phase 1 trials for LP-184 and LP-284 continue to progress with no dose-limiting toxicities observed. Notably, LP-184 received FDA Fast Track Designation for Glioblastoma. The company maintains three active clinical trials and is advancing its AI-guided precision-oncology drug candidates.
LP-300 Harmonic™ Trial: Advancing NSCLC Treatment
The Phase 2 Harmonic™ trial is focused on addressing the unmet need for never-smoker patients with non-small cell lung cancer (NSCLC). Preliminary results from the initial safety lead-in cohort of 7 patients showed an 86% clinical benefit rate and a 43% objective response rate when LP-300 was combined with standard-of-care chemotherapy (pemetrexed and carboplatin). Three patients achieved partial responses with an average tumor size reduction of 51%, while three additional patients achieved stable disease with an average tumor reduction of 13%. These results were consistent regardless of prior tyrosine kinase inhibitor (TKI) treatments, patient demographics, or metastatic disease sites.
The Harmonic™ trial has now progressed to its randomization and expansion phase, designed to enroll up to an additional 84 patients in a 2:1 ratio comparing LP-300 plus standard-of-care chemotherapy versus chemotherapy alone. The trial has expanded to Japan and Taiwan, regions with a higher prevalence of never-smoker NSCLC, with an expected 10 sites in East Asia. The study's co-primary endpoints are progression-free survival (PFS) and overall survival (OS), with a planned interim analysis expected by mid-2025.
LP-184: FDA Fast Track Designation for Glioblastoma
LP-184 continues to advance through its Phase 1a first-in-human basket trial (NCT05933265) across multiple solid tumor indications. Nine patient cohorts have been successfully dosed at escalating dose levels, with no dose-limiting toxicities observed to date. The trial is actively enrolling patients with relapsed/refractory advanced solid tumors, including pancreatic cancer, glioblastoma (GBM), triple-negative breast cancer, and other solid tumor types with DNA damage response deficiencies.
The FDA granted Fast Track Designation to LP-184 in glioblastoma, recognizing the serious nature of GBM and the significant unmet medical need. Lantern's subsidiary, Starlight Therapeutics, is positioning LP-184 (designated as STAR-001 for CNS indications) for a Phase 1b/2a clinical trial in recurrent GBM, targeted to begin in early 2025.
LP-284: Advancing in Phase 1a Clinical Trial
The fourth cohort of patients are being dosed in the LP-284 Phase 1a clinical trial, with no dose-limiting toxicities observed. Lantern Pharma is in the process of opening additional hematology-focused sites later this year, with the potential to advance to Phase 1b or 2 by early to mid-2025. LP-284 has shown nanomolar potency across multiple published in vitro and in vivo studies, including mantle cell lymphoma (MCL), double hit lymphoma (DHL), and other advanced NHL cancer subtypes with DNA damage response deficiencies.
Financial Highlights
Lantern Pharma reported approximately $28.1 million in cash, cash equivalents, and marketable securities as of September 30, 2024, compared to approximately $41.3 million as of December 31, 2023. Research and development expenses were approximately $3.7 million for the quarter ended September 30, 2024, compared to approximately $2.2 million for the quarter ended September 30, 2023. The net loss was approximately $4.5 million (or $0.42 per share) for the quarter ended September 30, 2024, compared to a net loss of approximately $3.2 million (or $0.29 per share) for the quarter ended September 30, 2023.
