Lantern Pharma (NASDAQ:LTRN) Posts Quarterly Earnings Results, Misses Expectations By $0.19 EPS

Lantern Pharma (NASDAQ:LTRN) posted its quarterly earnings data on Friday. The company reported ($0.57) earnings per share (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 Price Performance

NASDAQ:LTRN traded up $0.02 during trading hours on Friday, reaching $2.65. 165,594 shares of the company were exchanged, compared to its average volume of 72,610. The firm has a market cap of $33.81 million, a price-to-earnings ratio of -1.83 and a beta of 2.34. Lantern Pharma has a 52-week low of $1.11 and a 52-week high of $4.75. The stock has a 50 day simple moving average of $3.33 and a 200 day simple moving average of $2.86.

Institutional Trading of Lantern Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in LTRN. Cetera Investment Advisers acquired a new stake in shares of Lantern Pharma during the 4th quarter worth $37,000. XTX Topco Ltd acquired a new stake in Lantern Pharma during the second quarter worth about $40,000. CIBC Private Wealth Group LLC acquired a new stake in Lantern Pharma during the fourth quarter worth about $47,000. Two Sigma Investments LP purchased a new position in shares of Lantern Pharma in the 3rd quarter worth about $70,000. Finally, Susquehanna International Group LLP purchased a new position in shares of Lantern Pharma in the 3rd quarter worth about $170,000. 28.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on LTRN shares. Weiss Ratings upgraded Lantern Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 29th. Wall Street Zen raised Lantern Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently 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.