Lantern Pharma (LTRN) investor relations material

Portfolio and clinical progress

• Three molecules in clinical trials, >100 patients dosed, 12 FDA designations, and ~100 issued or pending patents.

• Six clinical paths span the portfolio; LP-300 is in phase II in Taiwan and the U.S., focused on L858R mutations, while LP-184 is launching in TNBC and has a Denmark bladder trial.

• LP-184, also called zirdafulven, showed ~50% disease control in adult phase I-A; a pediatric trial is cleared, and planned indications include TNBC, bladder, GBM, and pediatric CNS cancers.

• In LP-300, none of 14 evaluated patients had disease progression and 10 had tumor shrinkage; PFS was 8.9 months after six cycles, with the next 15 patients to receive up to eight cycles.

• An ATRT trial under PNOC is expected to start early next year, with most costs covered by the consortium; four rare pediatric disease designations support potential priority review voucher paths.

AI platform and business plans

• RADR uses >250 billion cancer-study data points; five of the top 12 Therapeutic Data Commons models were developed by the platform.

• The stated cost to take a program from idea to human trial is $2 million-$3 million and 2-3 years, versus industry norms of $20 million-$100 million and 5-10 years.

• The platform combines disease and drug analysis with biomarker selection to identify precision patient groups; its development has focused on real drug programs rather than theoretical AI applications.

• Open-Medicine AI, 100% owned, is planned as a spinout serving biotech, pharma, CROs, and service providers beyond oncology; the platform has supported >100 drugs and has several dozen subscribers.

Financial position and upcoming milestones

• Quarterly burn rate was ~$3.5 million; spending fell 25% last quarter, and R&D costs declined YoY after completion of the LP-184 trial in 60+ patients.

• Cash was $7.4 million at Q2 end, followed by raises of $4.4 million and $4 million; available cash was expected to last into Q2 or Q3 next year.

• Upcoming milestones include LP-300 data, a first TNBC patient, bladder and CNS trial launches, and outside financing for Open-Medicine AI; regional licensing deals are targeted for next year.