Lantern Pharma (NASDAQ:LTRN) Releases Earnings Results, Misses Estimates By $0.19 EPS

Lantern Pharma (NASDAQ:LTRN) announced its quarterly earnings data on Friday. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates 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 Performance

Shares of NASDAQ:LTRN opened at $2.65 on Friday. The firm has a market capitalization of $33.81 million, a P/E ratio of -1.64 and a beta of 2.34. The stock has a 50 day moving average price of $3.31 and a 200-day moving average price 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

Several institutional investors have recently modified their holdings of the business. Cetera Investment Advisers purchased a new stake in Lantern Pharma in the fourth quarter worth about $37,000. XTX Topco Ltd bought a new position in shares of Lantern Pharma during the second quarter valued at $40,000. CIBC Private Wealth Group LLC purchased a new stake in Lantern Pharma during the 4th quarter valued at about $47,000. Two Sigma Investments LP purchased a new position in Lantern Pharma in the third quarter worth about $70,000. Finally, Susquehanna International Group LLP purchased a new stake in shares of Lantern Pharma during the third quarter valued at approximately $170,000. 28.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LTRN has been the subject of several analyst reports. Weiss Ratings upgraded shares of Lantern Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 29th. Wall Street Zen lowered Lantern Pharma from a “hold” rating to a “sell” rating in a research report on Saturday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Lantern Pharma presently has an average rating of “Sell”.

Lantern Pharma Company Profile

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.