Lantern Pharma (NASDAQ:LTRN) Releases Quarterly Earnings Results

Lantern Pharma (NASDAQ:LTRN) released its quarterly earnings results on Friday. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.19), FiscalAI reports.

Here are the key takeaways from Lantern Pharma’s conference call:

• LP-300 showed encouraging activity in never-smoker NSCLC patients with L858R mutations: median progression-free survival was 8.4 months overall and 8.9 months among patients completing six cycles, with a 0.37 hazard ratio and a 77% clinical benefit rate. Management cautioned that the data remain exploratory and based on small cohorts.
• Lantern advanced several clinical and regulatory milestones for LP-184, including European clearance for a biomarker-selected bladder cancer trial, FDA clearance for a triple-negative breast cancer study, and a notice of allowance for a three-gene patient-selection patent covering four tumor types.
• Lantern formally established Open-Medicine AI as a separately structured, wholly owned company with commercial licenses to its multi-agent drug-development platform. Management expects the unit to raise its own capital and potentially become separately listed, while Lantern retains access to the technology and expects to remain a major shareholder.
• Liquidity remains a concern: cash, cash equivalents, and marketable securities declined to approximately $7.4 million at June 30 from $10.1 million at year-end, despite $4.4 million of gross proceeds from a May offering. Management said additional capital raises and collaborations are a top priority, while warrant-related non-cash expenses contributed to a quarterly net loss of $7.1 million.
• Operating discipline improved, with second-quarter operating expenses down 25% year over year and operating loss reduced to approximately $3.5 million from $4.7 million, even as the company continued advancing multiple clinical programs and launched the AI business.

Lantern Pharma Stock Up 0.8%

Lantern Pharma stock opened at $2.65 on Friday. The firm has a market capitalization of $33.81 million, a P/E ratio of -1.83 and a beta of 2.34. The firm has a fifty day moving average of $3.31 and a 200-day moving average of $2.85. Lantern Pharma has a 52-week low of $1.11 and a 52-week high of $4.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cetera Investment Advisers acquired a new stake in shares of Lantern Pharma in the fourth quarter valued at about $37,000. XTX Topco Ltd purchased a new stake in shares of Lantern Pharma during the second quarter valued at approximately $40,000. CIBC Private Wealth Group LLC purchased a new position in shares of Lantern Pharma in the fourth quarter valued at $47,000. Two Sigma Investments LP acquired a new stake in Lantern Pharma during the 3rd quarter valued at $70,000. Finally, Susquehanna International Group LLP purchased a new stake in Lantern Pharma during the 3rd quarter worth $170,000. Institutional investors and hedge funds own 28.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on LTRN shares. Wall Street Zen cut Lantern Pharma from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings raised shares of Lantern Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

About Lantern Pharma

Lantern Pharma, Inc is a clinical-stage oncology company leveraging artificial intelligence (AI) and machine learning to accelerate the discovery and development of targeted cancer therapies. Headquartered in Dallas, Texas, Lantern Pharma’s proprietary RADR® platform integrates large-scale genomic, transcriptomic and chemical data to identify novel drug candidates and predict patient populations most likely to benefit from treatment.

The company’s pipeline focuses on molecules designed to address cancers with high unmet medical need.