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

Lantern Pharma (NASDAQ:LTRN) issued its quarterly earnings results on Friday. The company reported ($0.57) earnings per share (EPS) 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 Up 0.8%

Shares of LTRN traded up $0.02 during midday trading on Friday, hitting $2.65. The company’s stock had a trading volume of 165,594 shares, compared to its average volume of 72,610. Lantern Pharma has a one year low of $1.11 and a one year high of $4.75. The stock has a market capitalization of $33.81 million, a price-to-earnings ratio of -1.83 and a beta of 2.34. The company’s fifty day simple moving average is $3.31 and its two-hundred day simple moving average is $2.85.

Institutional Trading of Lantern Pharma

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its position in Lantern Pharma by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 96,742 shares of the company’s stock valued at $293,000 after acquiring an additional 4,661 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Lantern Pharma by 10.3% in the 4th quarter. Renaissance Technologies LLC now owns 110,400 shares of the company’s stock valued at $335,000 after purchasing an additional 10,300 shares in the last quarter. Cetera Investment Advisers acquired a new stake in shares of Lantern Pharma in the 4th quarter valued at approximately $37,000. XTX Topco Ltd bought a new stake in shares of Lantern Pharma during the 2nd quarter valued at approximately $40,000. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of Lantern Pharma during the 4th quarter valued at approximately $47,000. 28.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LTRN. Wall Street Zen upgraded Lantern Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings upgraded Lantern Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average 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.